VANCOUVER, July 24, 2017 /CNW/ - Grande West
Transportation Group Inc. (TSXV: BUS; OTC PINK: GWTNF) –
July 24, 2017: ("Grande West" or the
"Company"), a Canadian bus manufacturer of heavy-duty mid-sized
transit buses for sale in Canada
and the United States, is pleased
to announce a management update on Vicinity bus deliveries during
the second quarter ended June 30,
2017, as well as second quarter earnings release date.
The Company delivered a record number of thirty two buses (32)
in the second quarter. These record deliveries will result in
Grande West's first profitable
quarter.
Management is targeting delivery of a minimum of two hundred
(200) Vicinity buses during 2017.
Along with reaching profitability and record deliveries,
management is pleased with the Company's Vancouver-based assembly and inspection
process. These processes have now been tested and confirmed during
ramped up deliveries in the first half of the year. This faster
pace of deliveries will continue throughout the third and fourth
quarters and we will continue to implement process improvements as
we optimize our methods and practices. These actions and lessons
learned will be directly applicable to the Atlanta Buy America
facility to ensure that operations there are ramped up smoothly and
with the highest quality.
Taras Kindzersky, COO of Grande
West stated, "We are extremely pleased in achieving record
deliveries for the quarter, close to matching all deliveries during
the 2016 calendar year. Our new systems for streamlining
pre-delivery inspections and deliveries have been successful and
continue to improve. I am very proud of our operational team's
drive and enthusiasm in scaling up to the next level. Building on
second quarter successes is setting us up for continued record
deliveries moving into the coming quarters."
Second quarter financial results will be announced before market
open on August 17, 2017. A conference
call to discuss these results will be held the same day at
8:00 AM PST / 11:00 AM EST. The call-in number is (866)
215-5508 or (514) 841-2157 and can be accessed by entering passcode
45310688. A recording of the call will be available on the website
shortly after.
About Grande West Transportation Group
Grande West Transportation Group is a Canadian bus manufacturer
which designs, engineers and manufactures mid-size buses for
transit authorities and commercial enterprises. Grande West's Best-in-Class rated Vicinity bus
is available in 27.5', 30' and 35' models designed with
affordability, accessibility and global responsibility in mind. It
costs significantly less than a regular 40' transit bus, burns less
fuel and emits less harmful emissions.
The Company has been successful in supplying Canadian municipal
transportation agencies and private operators with new buses and is
receiving follow-on orders in many Canadian transit agencies.
Grande West is Buy America
compliant, and along with ABG, its exclusive US distributor, has
sold Vicinity buses to US–based public and private operators and is
actively pursuing more opportunities throughout the US.
For further information please contact:
Grande West
Transportation
John
LaGourgue
Ph: 604-607-4000
jlagourgue@grandewest.com
www.grandewest.com
Neither the TSX-V nor its Regulation Service Provider (as that
term is defined in the policies of the TSX-V) 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.
Important factors that could cause actual results to differ
materially from Grande West's
expectations include uncertainties relating to the receipt of final
approval from the TSX-V; and other risk and uncertainties disclosed
in Grande West's reports and
documents filed with applicable securities regulatory authorities
from time to time. Grande West's
forward-looking statements reflect the beliefs, opinions and
projections on the date the statements are made. Grande West assumes no obligation to update the
forward-looking statements or beliefs, opinions, projections, or
other factors, should they change, except as required by
law.
SOURCE Grande West Transportation Group Inc.