SOURCE: Unisync Corp.

Unisync Corp.

November 05, 2015 09:00 ET

Unisync Awarded $12.1 Million Contract

VANCOUVER, BC--(Marketwired - November 05, 2015) - Unisync Corp. (TSX VENTURE: UNI) ("Unisync") is pleased to advise that Public Works and Government Services Canada has awarded a $12.1 million contract to its 90% owned subsidiary, Peerless Garments LP of Winnipeg, Manitoba ("Peerless"). The contract contains a firm order valued at $4 million for the delivery of 6,200 cold weather parkas and trousers to the Canadian Forces by August 2016 and two options for similar quantities exercisable during the 36 months following the award date. These highly sophisticated garments are scientifically designed and specifically adapted to serve the men and women of the Canadian Forces in the extreme northern field environment.

Peerless has been a supplier to the Canadian Forces since the early 1950s during which time it has developed strong expertise in working with highly technical fabrics and manufacturing garments to rigid specifications. Founded in 1940 as a supplier of basic parkas, Peerless has evolved over the years to specialize in the production of highly technical protective garments designed to provide water-resistance, wind proofing and warmth. Peerless' line of military operational clothing aims to reduce detection through camouflage and concealment while ensuring that soldiers are kept warm, dry and comfortable when exposed to extreme weather conditions.

Peerless has an able management team headed by our minority partner and President, Albert El Tassi, who joined Peerless in 1969. Mr. El Tassi is a recipient of the Queen's Golden Jubilee Medal and a Member of both the Order of Manitoba and the Order of Canada. "We are pleased to see projects that have been delayed for extended periods due to budget restraints, finally being released," commented Mr. El Tassi. "This contract is a welcome addition to the recent exercise last August of two options totaling $16.7 million on the New Enhanced Combat Uniform Contract which was awarded to Peerless in October of 2012."

Unisync also operates through one other business unit: Unisync Group Limited of Mississauga, Ontario. Unisync Group is a leading customer-focused provider of corporate apparel, serving a list of leading Canadian iconic brands such as Air Canada and Purolator. The combined operations of Unisync represent a vertically integrated and proudly Canadian enterprise with exceptional capabilities in garment design, domestic manufacturing and off-shore outsourcing, combined with state-of-the-art web based B2B ordering, distribution and program management systems.

For more information on our capabilities, products and services please visit our website at www.unisyncgroup.com.

On Behalf of the Board of Directors

Douglas F Good
CEO

Forward Looking Statements
This news release may contain forward-looking statements that involve known and unknown risk and uncertainties that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. Any forward-looking statements contained herein are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such forward-looking statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

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.

Contact Information

  • Investor relations contact:
    Christopher Filewski
    Bristol Capital
    905 326 1888 ext 40
    or
    Douglas F Good
    CEO
    778-370-1725
    Email dgood@unisyncgroup.com