Luxor Provides Corporate Update
February 10 2017 - 8:00AM
Luxor Industrial Corporation (“Luxor” or the “Company”) (TSX.V:LRL)
(OTC:LXRRF) wishes to provide a corporate update.
On February 7, 2017, the Company requested that the
TSX Venture Exchange place a halt on the trading of its common
shares. Luxor made the request so that it could update the market
of developments impacting the Company.
The Company is experiencing significant financial
distress and has retained a strategic consulting group to assist it
in attempting to complete a financial restructuring.
Notwithstanding the Company’s efforts, there is no guarantee that
they will be successful in completing a restructuring.
The Company will keep shareholders advised of
further developments.
ABOUT LUXOR
Luxor’s operations are focused around a turnkey
framing solution for multi-family complexes. With its manufacturing
facility in Chilliwack, British Columbia, Luxor’s operations are
focused on offering a complete service, including estimating,
design, manufacturing and constructing, to General Contractors in
the Western United States.
In addition, Luxor is involved in the development,
engineering, manufacturing and marketing of engineered wood
products. In the industrial sector, it manufacturers wood mat
products. In the residential sector it manufactures its patented
IBS 2000® engineered floor bridging, fire protected architectural
wood products, and FastFrame™ wall components.
This news release contains forward looking
statements. Although Management believes that the expectations
reflected in these forward looking statements are reasonable, undue
reliance should not be placed on them because Luxor can give no
assurance that they will prove to be correct. Since forward looking
statements address future events and conditions, by their very
nature, they involve inherent risks and uncertainties. Additional
information may be accessed through the SEDAR website:
www.sedar.com.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
For further information contact Terry Lashman,
Chief Executive Officer, at 604-684-7929 or 800-665-2454 or visit
Luxor’s website at www.luxorcorp.com.