Park Lawn Corporation
TSX VENTURE : PLC

Park Lawn Corporation

June 23, 2015 17:09 ET

Park Lawn Corporation Announces Opening of New Mausoleum at Westminster Cemetery

TORONTO, ONTARIO--(Marketwired - June 23, 2015) - Park Lawn Corporation (TSX VENTURE:PLC) (the "Company" or "Park Lawn") today announced that it has received a Certificate of Consent from the Registrar, Ministry of Government and Consumer Services, Cemeteries Regulation Unit, for its new mausoleum at Westminster Cemetery. This consent will allow Park Lawn to begin converting sales from the reservation program and to make new sales both pre-need and at-need.

CEO Andrew Clark commented, "We are delighted that the new mausoleum at Westminster, called the Mausoleum of Faith, has received Consent from the Registrar. This will ensure that we can continue to serve families at Westminster on an uninterrupted basis."

Clark added, "Demand for the Mausoleum of Faith has been stronger than expected. With 148 spaces being reserved in advance of opening, it is evident that there was pent-up demand for a new building at Westminster."

The building contains 3,240 crypts.

About Park Lawn

Park Lawn Corporation provides goods and services associated with the disposition and memorialization of human remains. Products and services are sold on a pre-planned basis (pre-need) or at the time of a death (at-need). The Company owns and operates six cemeteries in the Greater Toronto Area and operates the crematorium at the Brampton Crematorium and Visitation Centre. The Company also operates Tubman/Cadieux Funeral Homes in the Ottawa region and Parkland Funeral Holdings in Manitoba and Saskatchewan. The Harmonia business of the Company currently operates under license in Quebec City, Laval, Saint-Apollinaire and Saint-Georges. Park Lawn's common shares are listed on the TSX Venture Exchange under the symbol "PLC". The Company is the only Canadian publicly listed cemetery, funeral and cremation business. Park Lawn makes monthly dividend payments to its shareholders. The monthly dividend has been paid each month since January, 2011 and is currently $0.038 per share ($0.46 per share on an annual basis).

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.

Forward-looking Statements

This news release contains forward-looking statements regarding the Company's business and growth plans, including those regarding demand at the Mausoleum of Faith. Although management of the Company believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. By their nature, forward-looking statements are inherently uncertain, are subject to risk and are based on assumptions including those discussed herein. Readers are cautioned to not place undue reliance on forward-looking statements made herein because a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including, but not limited to, the factors described under the heading "Risk Factors" in the Company's most recent Annual Information Form. Forward-looking statements are provided as of the date hereof and the Company assumes no obligation to update or revise such forward-looking statements to reflect new events or circumstances except as required under applicable securities laws.

Contact Information

  • Park Lawn Corporation
    Andrew Clark
    Chief Executive Officer
    (416) 231-1462