Press release from CNW Group
Westshore Terminals Investment Corporation - Extended Handling Agreement With Coal Valley Resources Inc.
Monday, November 19, 2012
Westshore Terminals Investment Corporation - Extended Handling Agreement With Coal Valley Resources Inc.20:00 EST Monday, November 19, 2012VANCOUVER, Nov. 19, 2012 /CNW/ - Westshore Terminals Investment Corporation (TSX: WTE.UN) (the "Corporation") is pleased to announce today that Westshore Terminals Limited Partnership has reached an agreement with Coal Valley Resources Inc. ("CVRI") to extend the parties' current agreement (previously set to expire March 31, 2017) for an additional five year term, and now set to expire March 31, 2022.Under this extended contract, CVRI will ship coal volumes from its export coal mines of up to 3 million tonnes per coal contract year through Westshore.Denis Horgan, General Manager of Westshore Terminals Limited Partnership commented: "This agreement underscores the importance of the long term CVRI-Westshore relationship and marks another important and positive step between the two organizations for future."The foregoing statements concerning tonnages, coal prices, loading rates, taxation and variability of distributions are forward-looking statements but reflect the current expectations of the Fund and Westshore with respect to future events and performance. Wherever used, the words ''may,'' ''will,'' ''anticipate,'' ''intend,'' ''expect,'' ''plan,'' ''believe,'' and similar expressions identify forward-looking statements.Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at which, such performance or results will be achieved. Forward-looking statements are based on information available at the time they are made, assumptions made by management, and management's good faith belief with respect to future events.SOURCE: Westshore Terminals Investment CorporationFor further information: Nick Desmarais Secretary (604) 488-5295