Business
Horizon North Logistics Inc. Announces Acquisition of Moose Haven Lodge, Provides Update on Fort McMurray Strategy
Horizon North Logistics Inc. Announces Acquisition of Moose Haven Lodge, Provides Update o...
About this update from Dexterra Group, Inc.
[{"type":"text","content":"\n\n\n\nHorizon North Logistics Inc. Announces Acquisition of Moose Haven Lodge, Provides Update on Fort McMurray Strategy\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Jan. 8, 2018\n\n\n\nCALGARY, Jan. 8, 2018 /CNW/ - Horizon North Logistics Inc. (\"Horizon North\" or the \"Corporation\") (TSX: HNL.TO) announced today that it has completed the acquisition of Moose Haven Lodge in Janvier, Alberta and has formed two new Aboriginal partnerships in the Fort McMurray, Alberta area. The acquisition and new partnerships are key components of the Corporation's strategy with respect to opportunities in the Fort McMurray region.\n\n\n \n \n\n \nMoose Haven Lodge Acquisition\n\nLocated 120 km south of Fort McMurray near the hamlet of Janvier, Moose Haven Lodge is a 288-bed open lodge servicing workforce accommodation needs in the Highway 881 corridor between Conklin, Alberta and Fort McMurray. The acquisition of Moose Haven Lodge is a key element of the Corporation's newly signed partnership with Janvier Aboriginal Industrial Services Corp., a wholly owned entity of the Chipewyan Prairie Dene First Nation (\"Chipewyan Prairie\"). Both the acquisition and partnership position Horizon North to secure future contracts in the surrounding area.\n\nThe purchase price of Moose Haven Lodge is $14 million, payable in a mix of cash and Horizon North common shares.\n\n\"We have invested significantly in our industrial business park, with Moose Haven Lodge as a vital piece to its future development,\" says Chief Vern Janvier of the Chipewyan Prairie Dene First Nation. \"We are pleased that Horizon North purchased the lodge and joined with us to finalize our new camp and catering partnership. As partners, we look forward to generating new business opportunities in our territory which will benefit the Nation and all our members.\"\n\n\"To win work in these areas, Horizon North and our customers believe strong relationships are required with the Aboriginal communities who call the regions home,\" says Rod Graham, President and Chief Executive Officer of Horizon Nort...