VANCOUVER, Feb. 13, 2018 /CNW/ - Grande West
Transportation Group Inc. (TSXV: BUS; OTC PINK: GWTNF) –
February 13, 2018: ("Grande West" or
the "Company"), a Canadian manufacturer of mid-sized multi-purpose
transit vehicles for sale in Canada and the
United States, is pleased to announce the appointment of
Jean-Marc Landry to the position of
Chief Executive Officer.
Grande West is making leadership
changes that are focused on aligning Corporate management with the
needs of our growing company. These efforts are an important part
of our shift from a product-focused business to a stronger sales
and customer development organization.
Over the course of the past 10 years and William Trainer's leadership, Grande West designed, engineered, manufactured,
assembled and delivered our Best-In-Class mid-size Vicinity bus. To
date, Grande West has delivered over
300 buses in Canada and the US,
and is experiencing increased demand as the concept of right sizing
takes hold.
At this time, to support this change in focus, Grande West announces that Mr. Trainer will
transition from his CEO role to undertake the roles and
responsibilities of President and remain as a member of the Board
of Directors. Jean-Marc Landry, our
existing VP of Sales, will assume the CEO role.
Mr. Trainer notes, "I've been intimately involved with the
success of Grande West to date and
have been very pleased with our growth and expansion throughout
North America. However, there
comes a point in time when good corporate governance demands the
right people in the right roles. That time has come. Our company is
reaching an inflection point in our growth and our next phase along
this growth path is focused on sales. So, sales strategy rather
than product design strategy moves to the forefront. I feel very
comfortable handing the reins over to Jean-Marc."
"Will and I have worked together for over four years now" said
Jean-Marc Landry, "and we will
continue to work diligently to grow Grande
West as we move forward into 2018 and beyond. We will begin
to implement expanded sales strategies and processes that will
support the continued rapid growth that we expect. I will also be
working alongside others here at the Company to assure that our
shareholders and other stakeholders are well informed of our
progress."
The Company has granted Mr. Landry 1,000,000 stock options with
a strike price of $1.90 for his
executive incentive plan that will vest over a three year period.
The options are exercisable until February 14, 2023, subject
to exchange approval.
The Company is currently preparing fourth quarter and year-end
2017 audited financial statements to be released in late April.
About Grande West
Grande West is a Canadian company
that designs, engineers and manufactures mid-size multi-purpose
transit vehicles for public and commercial enterprises.
Grande West's Best-in-Class
heavy-duty Vicinity bus is available in 27.5', 30' and 35' 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, is more
maneuverable, burns less fuel and emits less harmful emissions.
Grande West will soon be offering a
new product which will be the first Crossover Vehicle in the
transit space - a medium-duty, monocoque-designed rear engine
vehicle.
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 compliant to Buy
America certification, and along with ABG, its exclusive US
distributor, is actively pursuing opportunities in public and
private transit fleet operations that would benefit from
Grande West's vehicles.
For further information please contact:
Grande West Transportation
John LaGourgue
VP Corporate Development
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 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.
