Seacliff Construction Corp.
TSX : SDC

Seacliff Construction Corp.

May 04, 2010 22:46 ET

Seacliff Construction Issues Clarification to its May 3, 2010 News Release

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 4, 2010) - Seacliff Construction Corp. (TSX:SDC) wishes to clarify certain points made in the news release it issued on May 3, 2010 regarding its role in the construction of the new community owned stadium in Winnipeg, the future home of the Winnipeg Blue Bombers and University of Manitoba Bison Football team, and the University of Manitoba Active Living Centre: http://www.seacliffconstruction.ca/s/News_Releases.asp?ReportID=397776

First, it is the Winnipeg-based office of Dominion Construction (Dominion), a wholly owned subsidiary of Seacliff, that has been awarded the construction management contract for the stadium. Dominion has operated in Manitoba for half a century and employs over 100 people locally.

Second, Dominion's scope of work on the project is limited to the stadium only and does not include the active living centre at the University of Manitoba in Winnipeg. The value of work to be managed under Dominion's existing construction management contract is approximately $100 million. As construction manager of the project, the normal tendering process for all trade contracts will be carried out as part of Dominion's overall services.

FORWARD-LOOKING STATEMENTS

This press release contains statements concerning Seacliff's services, use of funds, business plan, and objectives. Seacliff's Total Work on Hand, other expectations, plans, goals, objectives, assumptions, information or statements about future events or conditions may constitute forward-looking statements or information under applicable securities legislation. Such forward-looking statements or information are based on a number of assumptions which may prove to be incorrect. Assumptions have been made regarding, among other things, the successful implementation of Seacliff's business plan, the availability to Seacliff of qualified personnel, the continuation and completion of the projects forming Seacliff's Total Work on Hand, and general economic, business and market conditions. Although Seacliff believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Seacliff can give no assurance that such expectations will prove to be correct. The forward-looking statements are based on Seacliff's current expectations, estimates and projections, and are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, among others, Seacliff's ability to be retained for existing and new project work by existing and new clients, Seacliff's ability to retain and hire the qualified personnel required, the delay or cancellation of projects forming Seacliff's Total Work on Hand, general economic, business and market conditions, and other risks as are detailed from time to time in continuous disclosure filings of Seacliff. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. These forward-looking statements are made as of the date of this press release, and Seacliff assumes no obligation to update or revise them to reflect new events or circumstances, except as required by applicable laws.

Contact Information

  • Seacliff Construction Corp.
    Bill Crarer
    Chief Executive Officer
    604.242.2000
    or
    Seacliff Construction Corp.
    Vance Hackett
    Chief Financial Officer
    604.242.2000
    604.242.2008 (FAX)
    www.seacliffconstruction.ca