Tornado Global Hydrovacs Engages The Howard Group Inc. and Announces Stock Option Grants
October 04 2022 - 4:00PM
Tornado Global Hydrovacs Ltd. (“
Tornado”, the
“
Company”, “we” or “us”)
(TSX-V: TGH ;
OTCQX: TGHLF) is pleased to announce that it has entered
into a Letter of Agreement (the “IR Agreement”) with The Howard
Group Inc. to direct the company’s capital market and corporate
digital communications programs. The IR Agreement is subject to the
approval of the TSX Venture Exchange (the “TSX-V”).
The Howard Group will be providing a number of
services to Tornado pursuant to the IR Agreement, including
management of the Company’s capital markets communications
programs, investor engagement and digital media. Based in Calgary
Alberta, The Howard Group is a boutique capital markets firm that
has represented various other publicly traded companies.
Since 1988, The Howard Group has provided
comprehensive outreach and capital markets programs targeting
investor, investment and institutional communities as well as
financing support and strategic planning for public companies.
Grant Howard, President of The Howard Group
commented, “Our specialized team is particularly pleased to be
working with Tornado based on our extensive experience and
appreciation of the real growth opportunities for the manufacturers
of Hydrovac trucks and equipment. Most people have no idea of the
multiple applications of Hydrovac trucks for the efficient and safe
excavation of utility, pipeline, natural gas and fibre optic
corridors and especially so within an urban environment. Tornado is
clearly on a growth path and its fundamental performance should be
appreciated by the investing public.”
Pursuant to the terms of the IR Agreement,
Howard Group will be paid a fee of $10,000 (plus all applicable
taxes and out-of-pocket expenses) per month for the 18-month term
of the Agreement, subject to termination by either party after the
end of the initial 12 months of the term and receive incentive
stock options for the purchase of up to 500,000 common shares of
the Company effective October 1, 2022. Such stock options have an
exercise price of $0.51 per share and are subject to the approval
of the TSX-V. To the knowledge of the Company, the Howard Group
does not own any common shares of the Company nor, prior to the
execution of the IR Agreement, have any right to acquire common
shares of the Company.
Additionally, the Company announces that
pursuant to the terms of its stock option plan it granted incentive
stock options for the purchase of up to 1,825,000 common shares of
the Company effective September 15, 2022. 325,000 of the stock
options were granted to a strategic consultant and 1,500,000 were
granted to certain key employees. Such stock options have an
exercise price of $0.51 per share and are subject to the approval
of the TSX-V.
About Tornado Global Hydrovacs
Ltd.
Tornado is a pioneer and leader in the vacuum
truck industry and has been a choice of oilfield and utility
professionals with over 1,000 hydrovacs sold since 2005. The
Company designs and manufactures hydrovac trucks as well as
provides heavy duty truck maintenance operations in central
Alberta. It sells hydrovac trucks to excavation service providers
in the infrastructure and industrial construction and oil and gas
markets. Hydrovac trucks use high pressure water and vacuum to
safely penetrate and cut soil to expose critical infrastructure for
repair and installation without damage. Hydrovac excavation methods
are quickly becoming a standard in the North America to safely
excavate in urban areas and around critical infrastructure greatly
reducing infrastructure damage and related fatalities. In China,
the Company’s subsidiary is used principally to source certain
parts to the Company’s North America operations.
For more information about Tornado Global
Hydrovacs Ltd., visit www.tornadotrucks.com or contact:
Brett NewtonPresident & Chief Executive
OfficerPhone: (587) 802-5070Email: bnewton@tghl.ca
Jeff WalkerVice PresidentThe Howard GroupPhone:
(403) 221-0904Email: jeff@howardgroupinc.com
Advisory
Certain statements contained in this news
release constitute forward-looking statements and future oriented
financial information. These statements relate to future events.
All statements other than statements of historical fact are
forward-looking statements or future oriented financial
information. The use of the words “anticipates”, “should”, ‘‘may”,
“expected”, “expects”, “believes” and other words of a similar
nature are intended to identify forward-looking statements or
future oriented financial information. These statements involve
known and unknown risks, uncertainties and other factors that may
cause actual results or events to differ materially from those
anticipated in such forward-looking statements or, as applicable,
such future oriented financial information. Although Tornado
believes these statements to be reasonable, no assurance can be
given that these expectations will prove to be correct and such
forward-looking statements included in this news release and the
future oriented financial information included in this news release
should not be unduly relied upon. Such statements include the
statement with respect to: the anticipated receipt of TSXV Approval
for the IR Agreement; the anticipated receipt of TSXV Approval of
the Options; and; the expectation that the Howard Group will
provide management of the Company’s capital markets communications
programs, investor engagement and digital media. The
forward-looking statements and future oriented financial
information contained in this news release represent Tornado’s
expectations as of the date hereof and are subject to change after
such date. Tornado disclaims any intention or obligation to update
or revise any forward-looking statements and future oriented
financial information whether as a result of new information,
future events or otherwise, except as may be required by applicable
securities regulations.
Neither the Exchange nor its Regulation
Service Provider (as that term is defined in policies of the
Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
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