Tornado Hires President & COO to Bolster Team To Capitalize on North American Hydrovac Market Opportunity
June 01 2021 - 7:00AM
Tornado Global Hydrovacs Ltd. (“Tornado” or the “Company”) (TGH:
TSX-V) is excited to announce it has hired Brett Newton as
President and COO effective today. Brett has become a hydrovac
industry leader, working his way up to be Vice President of
Operations and Fleet Manager for Badger franchises in Toronto,
Hamilton and Niagara, then starting his own hydrovac service
operation in Ontario and for the past five years, being a
co-founding partner of Rival Hydrovacs (“Rival”), a competitor to
Tornado. Because of the significant growth expected in
infrastructure spending in North America, Tornado recently
purchased a 68,500 square foot, state of the art, manufacturing
facility in Red Deer, Alberta on 16 acres of land (the “New
Facility”), effectively tripling its monthly production capacity.
Brett decided to join Tornado to help the Company capture more of
its share of the growing hydrovac market in North America.
“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.
Tornado Infrastructure E... (TSXV:TGH)
Historical Stock Chart
From Nov 2024 to Dec 2024
Tornado Infrastructure E... (TSXV:TGH)
Historical Stock Chart
From Dec 2023 to Dec 2024