CALGARY, ALBERTA -- (Marketwire) -- 12/24/12 -- Pro-Trans Ventures Inc. ("Pro-Trans" or the "Corporation") (TSX VENTURE: PVI) is providing an operational update related to the current fourth quarter of 2012.
The Corporation's principal operating subsidiary, Maple Leaf Loading Ltd. ("Maple Leaf"), has encountered certain market and operational challenges during the fourth quarter of 2012, including the following:
a. continued weakness in metallurgical coal pricing has had a negative impact on the volumes available for transport from Maple Leaf's customer base; andb. the transportation capacity of Maple Leaf was temporarily impacted by a one-time mechanical problem which temporarily grounded a portion of its trucking fleet.
Based on these factors, the Corporation anticipates a significant decline in the revenues of Maple Leaf as compared to the fourth quarter of 2011. The Corporation expects that this will have a significant negative impact on the Corporation's earnings in the fourth quarter of 2012.
Brian Murray, the President and Chief Executive Officer of Pro-Trans stated, "The Corporation is taking the necessary steps to deal with what is expected to be a decline in volumes to be transported by shedding affected assets and contractor services. In addition, repairs are ongoing to deal with a mechanical issue that is expected to be fully resolved by the beginning of 2013."
"Despite the current challenges in our traditional marketplace, we believe that there continue to be some excellent opportunities to further expand Maple Leaf's presence in the Canadian coal and other mining sectors", he added.
Pro-Trans is a Calgary based public company listed on the TSX Venture Exchange. The Company is actively involved in specialized transportation and logistics services within Western Canada, primarily through its' wholly owned subsidiary, Maple Leaf Loading Ltd., based in Prince George, B.C. Maple Leaf, a mining support company, offers specialized transportation services related to the management, handling and transportation of coal and ore concentrates for customers involved in the mining industry in B.C., Alberta, and the Yukon.
This press release contains certain statements or disclosures relating to Pro-Trans that are based on the expectations of Pro-Trans as well as assumptions made by and information currently available to Pro-Trans which may constitute forward-looking information under applicable securities laws. In particular, this press release contains forward-looking information related to the future financial performance of the Corporation, future opportunities of the Corporation and the completion of mechanical repairs on certain of Maple Leaf's fleet. Such forward looking information involves material assumptions and known and unknown risks and uncertainties, certain of which are beyond Pro-Trans' control. Many factors could cause the performance or achievement by Pro-Trans to be materially different from any future results, performance or achievements that may be expressed or implied by such forward looking information. Pro-Trans' Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR website at www.sedar.com) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. Pro-Trans disclaims any intention or obligation to publicly update or revise any forward looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.
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 or accuracy of this release.
Pro-Trans Ventures Inc.
President and Chief Executive Officer