EDMONTON, Aug. 28 /CNW/ - PowerComm Inc. (PCG:TSX) today announced that
it is releasing its amended 2007 year-end financial statements. "There is
absolutely no change to the statements," said PowerComm's Chief Financial
Officer, Joe Huising, "the revision is to the Auditor's Letter which contained
an error in referencing the previous year's statements," he concluded.
The Auditors' Report now properly refers to the qualification of opinion
expressed on the opening inventory of the comparative 2006 Consolidated
Financial Statements and the effects, if any, on the Consolidated Statements
of Earnings and Cash Flows for the fiscal year 2006. The replacement Auditors'
Report is dated the same date, June 28, 2007, as the original report.
The amended statements containing the corrected Audit Letter are
available at www.sedar.com.
The news release contains certain forward-looking statements, including
management's assessment of future plans and operations and capital
expenditures and the timing thereof, that involve substantial known and
unknown risks and uncertainties, certain of which are beyond PowerComm Inc.'s
control. Such risks and uncertainties include, without limitation, risks
associated with the Corporation's ability to market successfully to current
and new customers; supply and demand for PowerComm Inc.'s services and
products and industry activity levels; capital expenditure programs;
projections of commodity prices and costs; the Corporation's ability to obtain
material and equipment from suppliers; operating risk liability; expansion of
services and products by internal growth or acquisition; the Corporation's
ability to obtain additional financing on satisfactory terms; the impact of
general economic and industry conditions; changes in laws and regulations
(including the adoption of new environmental laws and regulations) and changes
in how they are interpreted and enforced; competitive conditions; the lack of
availability of qualified personnel or management; fluctuations in foreign
exchange or interest rates, stock market volatility; and obtaining required
approvals of regulatory authorities. PowerComm Inc.'s actual results,
performance or achievements could differ materially from those expressed in,
or implied by, these forward-looking statements and, accordingly, no
assurances can be given that any of the events anticipated by the
forward-looking statements will transpire or occur, or if any of them do so,
what benefits, including the amount of proceeds, that PowerComm Inc. will
derive therefrom. Readers are cautioned that the foregoing list of factors is
not exhaustive. All subsequent forward-looking statements, whether written or
oral, attributable to PowerComm Inc. or persons acting on its behalf are
expressly qualified in their entirety by these cautionary statements.
Furthermore, the forward-looking statements contained in this news release are
made as of the date of this news release and PowerComm Inc. does not undertake
any obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information, future
events or otherwise, except as may be required by applicable securities laws.
For further information:
For further information: Wayne R. Rutherford, President and Chief
Executive Officer or J.D. Snowdon, Executive Vice President Corporate Services
at (780) 465-7038 or at firstname.lastname@example.org