Rand Logistics Announces Marine Miracle Month Program Results
September 30 2016 - 4:09PM
Rand Logistics, Inc. (NASDAQ:RLOG) (“Rand”), a leading provider of
bulk freight shipping services throughout the Great Lakes Region,
announced the Company will be donating in excess of $125,000 to
children’s charities designated by its customers as a result of its
Marine Miracle Month Program.
Rand introduced the Marine Miracle Month program
earlier this year announcing that the Company will donate $0.05 for
every ton of cargo carried by its fleet during August 2016 to
non-profit organizations with a primary focus on the health and
wellbeing of children. Rand provided its customers the opportunity
to select the children’s charity of their choice and is making the
donations in each participating customer’s honor. The donation
amount is based upon the total tons each customer shipped during
August 2016. Rand expects to distribute funds to the
designated charities in the United States and Canada in the third
quarter of its 2017 fiscal year.
“We are overwhelmed by the interest and positive
response our customers, employees, suppliers and community partners
have shown towards the initiative,” stated Aaron Degodny, Rand’s
Chief Commercial Officer. “With more than 30 participating
customers, Marine Miracle Month has created a vehicle for Rand to
give back to the many communities in which we operate and expand
the reach of our Corporate Social Responsibility efforts, while
strengthening partnerships with our valued customers.”
Degodny continued, “We are looking forward to
making Marine Miracle Month an annual event for Rand, our customers
and the organizations and children in the communities that it
positively impacts.”
Qualifying not-for-profit organizations selected by
Rand’s participating customers must hold 501(c)(3) status in the
U.S. or be a registered charity in Canada providing services and
benefits to children.
About Rand Logistics Rand
Logistics, Inc. is a leading provider of bulk freight shipping
services throughout the Great Lakes region. Through its
subsidiaries, the Company operates a fleet of three conventional
bulk carriers and twelve self-unloading bulk carriers including
three tug/barge units. The Company is the only carrier able to
offer significant domestic port-to-port services in both Canada and
the U.S. on the Great Lakes. The Company's vessels operate under
the U.S. Jones Act – which reserves domestic waterborne commerce to
vessels that are U.S. owned, built and crewed – and the Canada
Coasting Trade Act – which reserves domestic waterborne commerce to
Canadian registered and crewed vessels that operate between
Canadian ports.
Forward-Looking StatementsThis
press release contains forward-looking statements which reflect
management’s current views with respect to certain future events
and Rand’s operations, performance and financial condition.
Forward-looking statements are only as of the date of this press
release. Forward-looking statements include, but are not limited
to: future operating or financial results; anticipated plans, goals
or objectives of our management for operations and services; and
outlook, financial and other guidance. For all forward-looking
statements, we claim the protection of the Safe Harbor for
Forward-Looking Statements contained in the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are
inherently subject to risks and uncertainties, many of which cannot
be predicted with accuracy or are otherwise beyond our control and
some of which might not even be anticipated. Future events and
actual results, affecting our strategic plan as well as our
financial position, could differ materially from those described in
or contemplated by the forward-looking statements.
Important factors that contribute to such risks
include, but are not limited to, participation by our customers in
the Marine Miracle Month program; the effect of the economic
downturn in certain of our markets; the weather conditions on the
Great Lakes; our ability to maintain and replace our vessels as
they age; changes in customer demand; changes in shipping
regulations; fluctuations in currencies and interest rates;
adequacy of capital resources; expected capital spending or
operating expenses, including dry-docking and insurance costs;
changes in laws, regulations or tax rates, or the outcome of
pending legislative or regulatory initiatives; and potential
liability from pending or future litigation.
The risks included are not exhaustive. For a more
detailed description of these uncertainties and other factors,
please see the "Risk Factors" section in Rand's Annual Report on
Form 10-K filed with the Securities and Exchange Commission on June
16, 2016.
CONTACT:
Rand Logistics, Inc.
Corporate Communications:
Annemarie Dobler
(212) 863-9429
apdobler@randlogisticsinc.com