FORT ST. JOHN, B.C., Aug. 30, 2018 (GLOBE NEWSWIRE) -- Macro Enterprises Inc . (TSXV:MCR) (the “Company” or “Macro”) is providing this corporate update relative to today’s ruling by Canada’s Federal Court of Appeal which will result in further delays with respect to the construction of the Trans Mountain Pipeline Expansion Project.
Although the decision announced today was unexpected, the Company advises its guidance as provided on August 28, 2018 remains unchanged. The Company still expects its revenues to exceed $150.0 million and to be cash flow positive for the fiscal year ended December 31, 2018.
The Company
Macro’s core business is providing pipeline and facilities construction and maintenance services to major companies in the oil and gas industry within Canada. The Company’s corporate office is in Fort St. John, British Columbia. Its shares are listed on the TSX Venture Exchange under the symbol MCR. Information on the Company’s principal operations can be found at www.macroindustries.ca .
For further information please contact:
| Frank Miles | Jeff Redmond, CPA, CA |
| President & C.E.O. | C.F.O. & Corp. Secretary |
| Phone: (250) 785-0033 | Phone: (250) 785-0033 |
Forward-Looking Statements
This news release contains forward-looking statements that are not historical facts, including guidance on expected financial results to the end of 2018. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, remaining uncertainty relating to the final investment decision on the LNG Canada Project, the outcome of final contract negotiations, and the Company's ability to obtain any permits, consents or authorizations required for its planned construction. Readers are referred to the Company's public disclosure record which is available on SEDAR (www.sedar.com). Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by securities laws and the policies of the TSX Venture Exchange, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
