TORONTO, ON--(Marketwired - January 12, 2016) - Distinct Infrastructure Group Inc. (TSX VENTURE: DUG) ("DIG" or the "Corporation") is pleased to provide an operational update. The Corporation is pleased to announce that it made significant progress and advancements in 2015 which should result in the Corporation achieving its growth strategy and objectives in 2016. Some of the significant events and achievements include:
- SaskTel, Saskatchewan's leading full-service communications provider, has awarded DIG various projects valued at approximately $2 million. These projects are part of SaskTel's "Fiber to The Home" program.
- DIG would like to announce the appointment of Patrick Carswell as General Manager, Western Canada. Mr. Carswell brings with him to DIG over 20 years of industry experience in operational capacities working across Canada and this experience will be instrumental in him playing an important role in working with DIG's existing teams and in the integration of any future acquisitions.
- DIG has secured a facility in Sherwood Park Alberta. This facility will serve as a regional operational center and will enable the Corporation to consolidate its existing business units under one roof and one management team. The facility is approximately 48,000 square foot and sits on just under 8 acres.
- In the fourth quarter of fiscal 2015, DIG took delivery of four new Hydro Excavation trucks. In addition, the Corporation has placed orders for an additional 6 more vehicles which will increase the size of the Corporation's Hydro-Vac fleet to over 20 units. The addition of these new vehicles will allow the Corporation to increase its capacity in all of its operations across Canada. The specialized service that these units allow the Corporation to offer its clients, will be instrumental in the growth opportunities for the Corporation.
- DIG's organic growth in Ontario continues to keep pace with its existing customers' increasing workload. This growth is fueled by projects initiated by major communication companies, various utilities and municipalities across Southern Ontario.
- The Corporation has implemented various customer concentration and regional diversification initiatives. DIG's business development team has been successful in identifying and working with new clients as part of these initiatives. As a result of their efforts, the Corporation has and continues to be engaged in the bidding process for various projects scheduled to commence in 2016. These projects are for various telecommunication and power companies in British Columbia, Alberta and Saskatchewan.
"Given the Corporation's success in becoming a public company, entering the public markets and securing its acquisition line of credit in 2015, Distinct is excited about the opportunities in 2016," stated Joe Lanni, Co-CEO of the Corporation. "DIG plans to prudently deploy the proceeds of its recently acquired $20 million acquisition line of credit as it prepares for continued growth in 2016."
Alex Agius, Co-CEO of the Corporation, added, "DIG continues to evaluate opportunities and looks to complete strategic acquisitions in 2016 that will enhance the Corporation's capabilities and add the valuable resources required to meet its operational goals."
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Forward Looking Statements
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