STT Enviro Corp. Announces Grant of Options
04 April 2014 - 2:23PM
Marketwired
STT Enviro Corp. Announces Grant of Options
TORONTO, ONTARIO--(Marketwired - Apr 4, 2014) - STT Enviro Corp.
("STT" or the "Company") (TSX-VENTURE:STT), announced that it has
today granted 795,000 options to directors and employees, subject
to regulatory approval. The options will be exercisable into the
Company's common shares for a period of five years at an exercise
price of $0.13 per share, which was the closing price of the
Company's common shares on April 3, 2013.
About STT Enviro Corp.
STT Enviro Corp. (TSX-VENTURE:STT) is an international supplier
of industrial processes and environmental solutions. We work with
the biggest and most respected names in the mining, oil & gas
and utility sectors by assisting them in reducing their
environmental footprint and improving their operational
efficiency.
Our three primary areas of business are in providing
engineering, project management and installation of bulk
material/chemical handling systems for the neutralization of
pollutants; supplying bolted steel tanks and glass fused to steel
tanks for liquid storage projects; and sales of parts and
aftermarket services to our customers to help them in maintaining
their systems and increasing overall efficiency.
STT Enviro Corp. is focused on becoming a leading supplier of
environmental solutions by continuing to grow its business
organically and, longer term, to make strategic acquisitions at
prices that are financially accretive.
For more information, please visit our website at
www.sttenvirocorp.com.
Caution Regarding Forward-Looking Information and Non-IFRS
Measures
Forward-Looking Information
This news release contains certain forward-looking statements.
These statements relate to future events or future performance and
reflect management's current expectations and assumptions regarding
the growth, results of operations, performance, and business
prospects and opportunities. Such forward-looking statements
reflect management's current beliefs and expectations and are based
on information currently available to management of the Company. In
particular, statements regarding the future operating results and
economic performance are forward-looking statements.
Forward-looking statements involve significant risks and
uncertainties. A number of factors could cause actual events or
results to differ materially from the events and results discussed
in the forward-looking statements, including risks outlined under
"Risk Factors" in our Annual Information Form, which is posted at
www.sedar.com. In evaluating these statements, investors should
specifically consider various factors, including such risks as
Investment Risk; Business Valuations; Condition of Capital Markets;
Dependence on Key Personnel; General Economic Factors; Interest
Rate Risk; Competition; and Reliance on Key Suppliers. One or more
of these "Risk Factors" could cause actual events or results to
differ materially from any forward-looking statement. These factors
should not be considered exhaustive. Although the forward-looking
statements contained in this press release are based on what
management of the Company considers to be reasonable assumptions
based on information currently available to them, there can be no
assurance that actual events or results will be consistent with
these forward-looking statements, and management's assumptions may
prove to be incorrect. These forward-looking statements are made as
of the date of this press release, and none of STT nor its
directors assume any obligation to update or revise them to reflect
new events or circumstances. Undue reliance should not be placed on
forward-looking statements.
Non-IFRS Measures
The term "EBITDA" is a financial measure used in this document
which is not a standard measure under International Financial
Reporting Standards ("IFRS"). The Company's method of calculating
EBITDA may differ from the methods used by other issuers.
Therefore, STT's measure of EBITDA, as presented in this press
release, may not be comparable to similar measures presented by
other issuers. EBITDA refers to net earnings determined in
accordance with IFRS before depreciation, amortization of
intangible assets, gain or loss on disposal of property and
equipment, interest expense, accretion expense, special charges and
recoveries, stock compensation expense and income tax expense.
Management believes that EBITDA is a useful supplemental measure of
cash available for debt service, working capital, capital
expenditures, income taxes, and distribution. Investors are
cautioned that EBITDA, as a non-IFRS measure, is not an alternative
to measures under IFRS and should not, on its own, be construed as
an indicator of performance or cash flows, a measure of liquidity
or as a measure of actual return.
The term "backlog" is a financial measure used in this document
which is not a standard measure under IFRS. The Company's method of
calculating backlog may differ from the methods used by other
issuers. Therefore, STT's measure of backlog, as presented in this
press release, may not be comparable to similar measures presented
by other issuers. Backlog is the value of revenue remaining to be
earned from purchase orders received from customers. The projects
represented in backlog are executed according to a schedule agreed
with each customer, which could range in duration from one month to
eighteen months. Revenues are earned on a percentage of completion
basis. Management uses this measure to i) monitor the Company's
success in securing new orders, and ii) gauge the likelihood of
meeting revenue objectives in future periods.
Investors are cautioned that backlog, as a non-IFRS measure, is
not an alternative to measures under IFRS and should not, on its
own, be construed as an indicator of performance or cash flows, a
measure of liquidity or as a measure of actual return.
Neither the 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 of this
release.
Investor Relations:Holly HendershotDirector of Corporate
AffairsTel: +1 905-875-5584Email: hhendershot@sttenvirocorp.com
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