Acquisition Expands Vertex's Geographic Expertise in Large Pipeline, Utility and Mineral Land Projects across Canada.
SHERWOOD PARK, AB, Feb. 1, 2018 /CNW/ - (TSX.V:VTX) - Vertex Resource Group Ltd. ("Vertex") is pleased to announce that it has acquired the business of HMA Land Services ("HMA"). The expertise of the HMA team will further strengthen Vertex's professional land consulting practice, with particular focus on large pipeline, utility and mineral land projects. In addition to expanding our expertise, the addition of the HMA team, provides geographic exposure to new Canadian markets with projects and personnel on both the east and west coast.
"This acquisition enhances one of our long established and core consulting services. The addition of HMA continues the growth of our land, project management and public consultation services by strengthening our professional team and adding additional expertise in midstream, utility and mineral land projects. The acquisition is very complimentary and positions Vertex to continue to grow within our existing client base and better serve current customers of both entities with additional skills and expertise across the country," said Terry Stephenson, President of Vertex.
HMA began operating as Vertex effective January 1, 2018.
Established in 1976, Vertex has grown to become a leading provider of environmental and environmentally focused industrial services. Headquartered in Sherwood Park, Alberta, Vertex employs a staff of approximately 900 employees that service a wide array of customers in industries such as upstream and midstream oil and gas, utilities, telecommunication, forestry, agriculture and government. Vertex principally operates in western Canada and maintains a presence in select locations in the United States.
Certain statements contained in this news release, such as the Company's expectations regarding its results and the impact of its cost controls, and diversification efforts for the remainder of the year, constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events, that the Company's expectation regarding the impact of its costs controls and diversification efforts are accurate and assumptions regarding future commodity prices, exchange rates and demand for the Company's services. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, as well as the other risks and uncertainties applicable to the provision of environmental and industrial services and to the Company as set forth in the Company's Filing Statement in respect of the Transaction filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE Vertex Resource Group Ltd.
For further information: Please contact Terry Stephenson, President and CEO, or Michael Zvonkovic, CFO, Vertex Resource Group Ltd., 780-464-3295.