TORONTO, April 27, 2020 /CNW/ - SustainCo Inc. ("SustainCo" or the "Company", TSXV: SMS) announces today that the Company has completed the previously announced sale of its wholly-owned subsidiary, Clean Energy Developments Corp. to Groundheat Solar Wind Corp. See press release dated April 15, 2020.
The Company's existing business will continue to be operated through its wholly-owned subsidiary, VCI Controls Inc. ("VCI Controls").
Chris Hazelton, the Chief Financial Officer of SustainCo, said: "We will be focusing our success and expansion of VCI Controls' core business by providing additional services during this difficult time. For three decades, VCI Controls' clients have come to expect and rely on our prompt, professional and knowledgeable team that goes well beyond the basics, providing complete satisfaction and peace of mind."
Chris Hazelton, continued, "We would like to thank the employees for their commitment and their hard work in the past and particularly during these challenging times. They are our strength and the reason for our success."
About SustainCo Inc.
SustainCo conducts its operations through its wholly-owned subsidiary, VCI Controls.
VCI Controls is a leading supplier of building technologies and services that improve comfort, safety, energy efficiency, and occupant productivity. It is an industry leader in the development of intelligent building technology, including the integration of all building systems utilizing the latest in communications technologies and standards. VCI Controls' business focuses on digital controls and mechanical services, performance monitoring, and energy efficiency solutions.
With headquarters in Toronto, SustainCo has offices across Canada including, Halifax, Montreal, Pembroke, Ottawa, and Vaughan.
Forward Looking Statements
Certain information provided in this press release constitutes forward-looking statements and information within the meaning of applicable securities laws. Forward-looking information typically contains statements with words such as "anticipate", "believe", "forecast", expect", "plan", "intend", "estimate", "propose", "project", or similar words suggesting future outcomes. The Company cautions readers and prospective investors in the Company's securities not to place undue reliance on forward-looking information as, by its nature, it is based on current expectations regarding future events that involve a number of assumptions, inherent risks and uncertainties, which could cause actual results to differ materially from those anticipated by the Company.
The forward-looking information included herein is expressly qualified in its entirety by this cautionary statement. The forward-looking information included herein is made as of the date hereof and the Company assumes no obligation to update or revise any forward-looking information to reflect new events or circumstances, except as required by law.
Neither the Exchange, nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
SOURCE SustainCo Inc.
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SustainCo Inc., Emlyn David, President, Chief Executive Officer and Chairman, (647) 258-0960Copyright CNW Group 2020