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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Tornado Infrastructure Equipment Ltd | TSXV:TGH | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.03 | 2.97% | 1.04 | 1.00 | 1.05 | 1.05 | 1.00 | 1.03 | 131,500 | 21:59:02 |
“When Brett approached the company to explore building a future together, I immediately recognized this as an outstanding opportunity,” said Bill Rollins, Tornado’s CEO. “Tornado has made a huge investment in the New Facility and the addition of Brett to the executive management team is an important step in Tornado’s plan to capitalize on the expected massive increase in infrastructure spending in North America and the impact that this will have on construction in general and hydrovac excavation in particular. I am looking forward to working with Brett and maximizing the returns for Tornado shareholders.”
“Having owned and operated a service business with 14 Tornado hydrovacs, I knew Tornado makes a great hydrovac,” stated Brett Newton. “I wanted to move my young family to the heart of hydrovac country in Alberta, where the industry was founded by Badger over two decades ago. Tornado’s vision and positioning in the industry is perfectly suited to my skill set to make a difference in the industry and that is what appeals to me.”
A total of 1,700,000 stock options are being granted to Brett Newton and Bill Rollins under the Company’s stock option plan. The incentive stock options have an exercise price of $0.32, will expire June 1, 2026 and are subject to TSX Venture Exchange approval.
About Tornado Global Hydrovacs Ltd.
The Company designs and manufactures hydrovac trucks and provides heavy duty truck maintenance operations in central Alberta. It sells hydrovac trucks to excavation service providers in the infrastructure and industrial markets in Canada and the USA as well as provides heavy duty truck parts and services in Alberta. Hydrovac trucks use high pressure water to pulverize soil and turn it into mud, and then vacuum up the resulting mud into its tank. 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:
Bill RollinsChief Executive OfficerPhone: (403) 204-6333Email: brollins@tghl.ca | Brett NewtonPresident & Chief Operating OfficerPhone: (416) 522-6390Email: bnewton@tghl.ca |
Advisory
Certain statements contained in this news release constitute forward-looking statements. These statements relate to future events. All statements other than statements of historical fact are forward-looking statements. 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. 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. 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 should not be unduly relied upon. Such statements include statements with respect to: (i) the Company’s plan to accelerate the utilization of the Red Deer facility; and (ii) the Company’s ability to capitalize on the increase in infrastructure spending requiring the use of hydrovacs. . Actual results could differ materially from those anticipated in these forward-looking statements as a result of prevailing economic conditions, and other factors, many of which are beyond the control of Tornado. The forward-looking statements 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 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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