Grande West Delivers 15 Vicinity Buses
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 11/12/14 -- Grande West Transportation Group Inc. (TSX VENTURE: BUS) ("Grande West" or the "Company") is pleased to announce that 15 Vicinity buses have been delivered and placed into operation in the last 3 months. Kings Transit of Nova Scotia has acquired 3 Vicinity buses replacing 5 cut-away style buses. One of the daily routes for Kings Transit stretches 950 km on which the Vicinity buses perform well. Transdev of Quebec has recently received and put into service 12 Vicinity buses in the North and South Shore areas of Montreal. In February 2014, Transdev bought a Vicinity demonstration bus and has placed multiple orders totaling 12 buses.
Grande West has engaged Paradox Public Relations Inc. ("Paradox") to provide investor relations services for a 24 month term with a 30 day right of cancellation by either party. Paradox will be paid a monthly fee of $8,000 and will be granted an option to purchase 300,000 common shares of Grande West at $0.50 per share. The options vest in equal amounts at the rate of 25% per quarter and have a three-year term.
Paradox was formed in 2001 and is headquartered in Montreal, Quebec, Canada. Its bilingual (English and French) team of professionals offers experience and expertise in investor relations, corporate communications and consulting aiming at raising investors'' awareness for publicly trading companies. Paradox specializes in the development and marketing of emerging growth, micro cap and small cap companies. With over 13 years of continued service, Paradox has developed extensive national and international contacts including brokers, investment advisors, institutional investors, investment funds, analysts, newsletter writers, media and private investors.
Grande West will continue to engage The Howard Group who have provided for the last 15 months comprehensive investor and capital markets programs, business development solutions, strategic planning and financing services to the Company.
About Grande West Transportation Group
Grande West was formed in 2008 to design and develop a 27.5 foot bus, known as the "Vicinity." With little competition in the "mid-size" bus range, Grande West has set itself apart from others with the Vicinity bus - a heavy duty mid-size, true community transit bus.
The Vicinity is designed with affordability, accessibility and global responsibility in mind. It costs 40% less than a 40 foot transit bus, burns less fuel, emits less harmful emissions and has lower maintenance costs. The Vicinity achieves a life span twice as long as the cut-away buses which are based on a truck chassis and are currently used by many transit operators. The Vicinity also has materially lower maintenance costs than a cut-away bus.
In a large and unsaturated market segment, Grande West is poised to capture sales growth from both the replacement of cut-away buses and the right sizing of larger buses for better utilization of transit fleets across Canada and the United States.
Grande West has delivered a total of 31 Vicinity buses: 15 buses to BC Transit, 3 buses to Kings Transit in Nova Scotia and 13 buses to Transdev in Quebec. The future sales funnel is constantly growing. As the Vicinity is introduced to transit agencies across Canada, a strong interest in the Vicinity is being generated.
For marketing and customer testing, 3 Vicinity buses are being demonstrated including our new 30 foot model with two doors for the Ontario market and airport shuttle bus applications.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding the use of proceeds from the Private Placement, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
Contacts:
Grande West Transportation
William R. Trainer
President & CEO
1-604-607-4000
Grande West Transportation
John J. Sutherland
CFO
1-604-607-4000
The Howard Group
Jeff Walker
1-888-221-0915
The Howard Group
Ariel Cobangbang
1-888-221-0915
Paradox Public Relations
Carl Desjardins
1-866-460-0408
Paradox Public Relations
Jean-Francois Meilleur
1-866-460-0408
Paradox Public Relations
Karl Mansour
1-866-460-0408
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Datum: 12.11.2014 - 07:30 Uhr
Sprache: Deutsch
News-ID 1317624
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