Omni-Lite passes key new customer approval requirement
Omni-Lite fastest gainer on the TSX-V with a 47% return year to date
CERRITOS, CA, Feb. 18, 2015 /CNW/ - Omni-Lite Industries Canada Inc. (OML.V), the "Company" or "Omni-Lite", is pleased to announce that it has recently passed the vendor approval requirements of a new large Tier 1 Aerospace customer based in Southern California. Given the strict manufacturing and quality requirements of the major airframe manufacturers, this approval is necessary before this customer can engage Omni-Lite in the detailed engineering and complex manufacturing of the products for which the approval was obtained. The Company is also going through another "New Component" approval process with a separate existing customer in the Aerospace industry.
"These potential programs are the result of a dedicated effort to expand our activities in the aerospace community, which is benefiting from continued growth worldwide," stated Allen W. Maxin, President.
"As a measure of the success of the Company, Omni-Lite has been recognized as one of the top 10 gainers in the Globe and Mail, again this last week (February 14, 2015) for the third time in four weeks. The Company is now the best performing stock on the TSX Venture Exchange with a return of over 47% year to date. As reported by the Globe and Mail, Omni-Lite is also the second fastest growing stock in Canada if you include both Exchanges in the TSX family. The Company would like to thank our customers, shareholders and employees for the team effort in making this growth possible", stated David F. Grant, Chairman and CEO.
Omni-Lite is a rapidly growing high technology company that develops and manufactures precision components utilized by several Fortune 500 Companies including Boeing, Airbus, Alcoa, Ford, Caterpillar, Borg Warner, Chrysler, the U.S. Military, Nike, and adidas.
Reader Advisory
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to,the expected future performance of the Company. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
