TORONTO, April 27, 2020 /CNW/ - SustainCo Inc.
("SustainCo" or the "Company", TSXV: SMS) announces
today that the Company has completed the previously announced sale
of its wholly-owned subsidiary, Clean Energy Developments Corp. to
Groundheat Solar Wind Corp. See press release dated April 15, 2020.
The Company's existing business will continue to be operated
through its wholly-owned subsidiary, VCI Controls Inc. ("VCI
Controls").
Chris Hazelton, the Chief
Financial Officer of SustainCo, said: "We will be focusing our
success and expansion of VCI Controls' core business by providing
additional services during this difficult time. For three decades,
VCI Controls' clients have come to expect and rely on our prompt,
professional and knowledgeable team that goes well beyond the
basics, providing complete satisfaction and peace of
mind."
Chris Hazelton, continued, "We
would like to thank the employees for their commitment and their
hard work in the past and particularly during these challenging
times. They are our strength and the reason for our success."
About SustainCo Inc.
SustainCo conducts its operations through its wholly-owned
subsidiary, VCI Controls.
VCI Controls is a leading supplier of building technologies and
services that improve comfort, safety, energy efficiency, and
occupant productivity. It is an industry leader in the development
of intelligent building technology, including the integration of
all building systems utilizing the latest in communications
technologies and standards. VCI Controls' business focuses on
digital controls and mechanical services, performance monitoring,
and energy efficiency solutions.
With headquarters in Toronto,
SustainCo has offices across Canada including, Halifax, Montreal, Pembroke, Ottawa, and Vaughan.
Forward Looking Statements
Certain information provided in this press release constitutes
forward-looking statements and information within the meaning of
applicable securities laws. Forward-looking information typically
contains statements with words such as "anticipate", "believe",
"forecast", expect", "plan", "intend", "estimate", "propose",
"project", or similar words suggesting future outcomes. The Company
cautions readers and prospective investors in the Company's
securities not to place undue reliance on forward-looking
information as, by its nature, it is based on current expectations
regarding future events that involve a number of assumptions,
inherent risks and uncertainties, which could cause actual results
to differ materially from those anticipated by the Company.
The forward-looking information included herein is expressly
qualified in its entirety by this cautionary statement. The
forward-looking information included herein is made as of the date
hereof and the Company assumes no obligation to update or revise
any forward-looking information to reflect new events or
circumstances, except as required by law.
Neither the Exchange, nor its Regulation Services Provider
(as that term is defined in the policies of the Exchange) accepts
responsibility for the adequacy or accuracy of this release. No
stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained
herein.
SOURCE SustainCo Inc.