VANCOUVER, May 10, 2017 /CNW/ - Grande West
Transportation Group Inc. (TSXV: BUS; OTC PINK: GWTNF) –
May 10, 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 it has implemented an Employee Share Purchase Plan for
its employees (the "Plan").
The purpose of the Plan is to encourage employees of
Grande West to invest in common
shares of the Company, which will further align the interests of
management and employees with those of the shareholders of the
Company.
The Plan is available to employees, directors and officers of
the Company. Under the Plan, participants can contribute up to 20%
of their compensation to the Plan each pay period. Grande West will make a contribution to the Plan
on behalf of each participant in an amount equal to 20% of the
participant's contribution during that pay period. All
contributions to the Plan will be invested in common shares of the
Company and will be acquired on the public market by the
administrative agent under the Plan, Canaccord Genuity Corp. The
Plan has been conditionally approved by the TSXV.
William Trainer, CEO stated,
"2017 is a transformational year for Grande
West and our employees are a major reason for our growth and
success. This Plan has been implemented to further allow our valued
team to participate in the future growth in the Company and will
play an important role in attracting and retaining talented people
as we continue to build to meet growing demand."
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 Vicinity bus is available in 27.5, 30
and 35 foot models powered by clean diesel or CNG designed with
affordability, accessibility and global responsibility in mind. It
costs significantly less than a regular 40 foot 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, is actively
pursuing opportunities to sell Vicinity into public and private
transit fleet operations.
For further information please contact:
Grande West Transportation
John LaGourgue
Ph: 1-604-607-4000
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 closing of the Acquisition,
statements regarding the acquisition of common shares pursuant to
the Plan and the Company's expansion plans, 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
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.