FORT ST. JOHN, British Columbia, Sept. 06, 2017 (GLOBE NEWSWIRE) -- Macro Enterprises Inc. (TSX-V:MCR) (the “Company” or “Macro”) confirms that, as set out in the September 6, 2017 press release by Kinder Morgan Canada Limited, a joint venture consisting of Macro’s wholly-owned subsidiary, Macro Pipeline Services Inc., and its joint venture partner, Spiecapag, (a French-based pipeline contractor) has been named as one of several contractors selected for the Trans Mountain Expansion Project.
The memorandum of understanding with the Macro Spiecapag Joint Venture is for the construction of approximately 85 kilometers of pipeline along the Coquihalla-Hope corridor in British Columbia referred to as pipeline “Spread 5B”. The parties are currently negotiating the terms and conditions of the definitive commercial agreement for construction. The Company will provide more details once the terms and conditions of the construction contract have been fully negotiated and settled.
The Company
Macro’s core business is providing pipeline and facilities construction and maintenance services to major companies in the oil and gas industry in northeastern B.C. and northwestern Alberta. 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
Forward-Looking Statements
This news release contains forward-looking statements that are not historical facts. 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, including statements regarding the outcome of the Joint Venture’s negotiations with Kinder Morgan Canada for construction work on the Trans Mountain Pipeline expansion project, statements regarding the joint venture with Spiecapag SA and statements concerning the expected construction of the Kinder Morgan Trans Mountain Expansion Project, including the timing of the start of construction. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the inability to settle acceptable contract terms and conditions with Kinder Morgan, the continuing political and legal uncertain relating to the Kinder Morgan Trans Mountain Expansion Project, and the Company's ability to obtain any necessary permits, consents or authorizations required for its planned activities. 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.