Grande West Nominates Yves Devin and Don Siemens
May 01 2014 - 10:56AM
Marketwired
Grande West Nominates Yves Devin and Don Siemens
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 1, 2014) -
Grande West Transportation Group Inc. (TSX-VENTURE:BUS) ("Grande
West" or the "Company") announces the nominations of Yves Devin and
Don Siemens to its Board of Directors at its upcoming Annual
General Meeting to be held on May 29, 2014.
Mr. Devin has over 25 years of experience in the public transit
industry and was CEO of Société de transport de Montréal ("STM")
from 2006 to 2012. STM is one of the largest transit systems in
North America with its 1,800 buses, 69 km of subway lines, 9,800
employees and a $1.8 Billion operating budget. Through Yves Devin's
leadership, STM reached the ranks of top performers by being named
best Transportation Company in North America (2010) by the American
Public Transportation Association (APTA) and the best
Transportation Company with a commitment to sustainable development
(2010-2011-2012) by the London Metro Awards (participants from 40
Countries). Employee mobilization and customer satisfaction
achieved an all-time high and traffic reached a record 405 million
trips. Yves is actively involved and an avid supporter of the
Canadian Urban Transit Association, the American Public
Transportation Association and UITP, the only worldwide network to
bring together all public transport stakeholders and all
sustainable transport modes.
Mr. Siemens is an independent financial advisor and corporate
director specializing in Corporate Finance and Mergers &
Acquisitions. Don Siemens is a Chartered Accountant and previously
was Partner-in-Charge of Thorne Ernst & Whinney's (now KPMG)
Vancouver office Financial Advisory Services group.
William Trainer, President and CEO of Grande West, stated: "We
are pleased to be nominating the caliber of Yves Devin and Don
Siemens to our Board of Directors. Each will bring a wealth of
experience and expertise to Grande West. Mr. Devin's experience in
managing a major public transit system and the intricacies of
government relations and funding will provide a valuable
perspective to Grande West on the needs of our customers. Mr.
Siemens has a proven track record of advising companies to excel in
growth, strategic planning and financial reporting. We look forward
to their input to assist Grande West achieve its' goals and
increase shareholder value."
Michael Evans and Joanne Yan will not be standing for
re-election as Directors at the Annual General Meeting so as to
enable Yves Devin and Don Siemens to join the Board. The Company
wishes to sincerely thank, Michael Evans and Joanne Yan, for their
important contributions to the launching of Grande West through its
IPO process and their valued guidance given as Directors.
About Grande West Transportation Group Inc.
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 its "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 about half the amount of a
40 foot transit bus, burns less fuel, emits less harmful
environment emissions and achieves a life span twice as long as
cut-away buses with less maintenance costs.
In a large and unsaturated market, Grande West is poised to
capture growth in 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.
Initial deliveries of 15 Vicinity buses occurred in August 2013
to BC Transit. We also recognized the recent sale of our
demonstration bus. Currently, we have 18 new Vicinity buses in
production mostly for delivery to Quebec and Nova Scotia transit
agencies. Our potential sales funnel is constantly growing, as the
Vicinity is introduced to transit agencies across Canada.
For marketing and customer testing, 3 Vicinity demonstration
buses are included in the current production run inclusive of our
new 30 foot model with 2 doors for the Ontario market and airport
shuttle bus applications.
NEITHER 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, without limitation,
statements relating to the future operating or financial
performance of Grande West Transportation, 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.
These forward-looking statements may include statements regarding
the perceived merit of the product offered by Grande West; sales
estimates; manufacturing capabilities; capital expenditures;
timelines; strategic plans; market prices for parts and material;
or other statements that are not statements of fact.
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 the
uncertainties involving the need for additional financing to market
Grande West's products and provide after-sales maintenance and
support services to Grande West's customers; access to adequate
services and supplies to operate Grande West's business;
availability of financing in the debt and capital markets; the need
to obtain governmental approvals; unexpected cost increases, which
could include increases in estimated capital and operating costs;
fluctuations in price of materials used in the manufacture of our
products and currency exchange rates; availability of a qualified
work force; customers' reliance on funding from various levels of
government to purchase our products; fuel shortages and fuel
prices; competitors' ability to develop competing products; our
ultimate ability to develop, manufacture and sell Grande West's
products on economically favourable terms; 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.
Grande West TransportationWilliam R. TrainerPresident &
CEO(604) 607-4000info@grandewest.comwww.grandewest.comThe Howard
Group Inc.Jeff WalkerInvestor
Relations1-888-221-0915jeff@howardgroupinc.comwww.howardgroupinc.com
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