TORONTO, ONTARIO--(Marketwired - Oct. 29, 2013) - STT Enviro Corp ("STT" or the "Company") (TSX VENTURE:STT), formerly STT Semcan and STT Stanco, is pleased to announce the launch of our new corporate name STT Enviro Corp and our new website www.STTEnviroCorp.com.
Our rebranding is focused on our customers and ensuring that we are evolving with their needs. Our new brand identity commits ourselves to working towards a higher corporate purpose: to provide a top quality product, at a better price and with lower life cycle costs, so our customers can confidently choose us to help them clean up their world.
The letters "STT" stand for our ticker symbol on the TSX Venture Exchange and our commitment to strong economic performance and an economically competitive product. "Enviro Corp" reflects our commitment to leave the world a slightly better place. The logo, which illustrates a drop of water and a leaf, echoes the importance of environmental sustainability.
David Deacon, President & CEO commented "We have earned a solid reputation in helping our customers reduce their environmental footprint cost effectively. Our rebranding signals a commitment to using our 35 years of history to positively impact our customers' bottom line. Our corporate direction is focused on our customers and ensuring we offer a better whole life cost versus any alternative."
The new website was created to enhance communication with our customers and offer our visitors a more user‐friendly interface.
About STT Enviro Corp.
Our principal area of expertise is the design, assembly and support of handling systems for the reagents (such as lime, soda ash and magnesium oxide) required for environmental cleanups in mining, oil and gas and other industrial applications. While our clients are most often engineering companies, our goal is to ensure we make a positive impact on the end user customer operations, reducing costs and improving efficiency - on both a daily basis and over the long term. The systems are utilized internationally by major companies in a broad range of industries.
Environmental considerations and preventative technologies are prerequisites in modern industrial expansion and STT Enviro Corp is focused on becoming a leading North American supplier. Our strategy is to grow organically and, longer term, to acquire companies at prices which are strategically and financially accretive.
Caution Regarding Forward‐Looking Information and Non‐IFRS Measures
This news release contains certain forward‐looking statements. These statements relate to future events or future performance and reflect management's current expectations and assumptions regarding the growth, results of operations, performance, and business prospects and opportunities. Such forward‐looking statements reflect management's current beliefs and expectations and are based on information currently available to management of the Company. In particular, statements regarding the future operating results and economic performance are forward‐looking statements. Forward‐looking statements involve significant risks and uncertainties. A number of factors could cause actual events or results to differ materially from the events and results discussed in the forward‐looking statements, including risks outlined under "Risk Factors" in our Annual Information Form, which is posted at www.sedar.com. In evaluating these statements, investors should specifically consider various factors, including such risks as Investment Risk; Business Valuations; Condition of Capital Markets; Dependence on Key Personnel; General Economic Factors; Interest Rate Risk; Competition; and Reliance on Key Suppliers. One or more of these "Risk Factors" could cause actual events or results to differ materially from any forward‐looking statement. These factors should not be considered exhaustive. Although the forward‐looking statements contained in this press release are based on what management of the Company considers to be reasonable assumptions based on information currently available to them, there can be no assurance that actual events or results will be consistent with these forward‐looking statements, and management's assumptions may prove to be incorrect. These forward‐looking statements are made as of the date of this press release, and none of STT nor its directors assume any obligation to update or revise them to reflect new events or circumstances. Undue reliance should not be placed on forward‐looking statements.
The term "EBITDA" is a financial measure used in this document which is not a standard measure under International Financial Reporting Standards ("IFRS"). The Company's method of calculating EBITDA may differ from the methods used by other issuers. Therefore, STT's measure of EBITDA, as presented in this press release, may not be comparable to similar measures presented by other issuers. EBITDA refers to net earnings determined in accordance with IFRS before depreciation, amortization of intangible assets, gain or loss on disposal of property and equipment, interest expense, accretion expense, special charges and recoveries, stock compensation expense and income tax expense. Management believes that EBITDA is a useful supplemental measure of cash available for debt service, working capital, capital expenditures, income taxes, and distribution. Investors are cautioned that EBITDA, as a non‐IFRS measure, is not an alternative to measures under IFRS and should not, on its own, be construed as an indicator of performance or cash flows, a measure of liquidity or as a measure of actual return.
The term "backlog" is a financial measure used in this document which is not a standard measure under IFRS. The Company's method of calculating backlog may differ from the methods used by other issuers. Therefore, STT's measure of backlog, as presented in this press release, may not be comparable to similar measures presented by other issuers. Backlog is the value of revenue remaining to be earned from purchase orders received from customers. The projects represented in backlog are executed according to a schedule agreed with each customer, which could range in duration from one month to eighteen months. Revenues are earned on a percentage of completion basis. Management uses this measure to i) monitor the Company's success in securing new orders, and ii) gauge the likelihood of meeting revenue objectives in future periods.
Investors are cautioned that backlog, as a non‐IFRS measure, is not an alternative to measures under IFRS and should not, on its own, be construed as an indicator of performance or cash flows, a measure of liquidity or as a measure of actual return.
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 of this release.