VANCOUVER, BRITISH COLUMBIA, Mar. 11, 2010– Seacliff Construction Corp. (“Seacliff”) (TSX:SDC), one of the largest and most diversified construction companies in Western Canada, today announced that Canem Systems (Canem), its electrical and data communications contracting arm, has been awarded another Electrical Construction Management Services contract at the Edmonton Clinic North (ECN). Valued at $8.4 million, the new contract is for the completion of the electrical fit-outs for the facility’s third, fourth and fifth levels. During 2009, Canem was awarded two other contracts for electrical work at the ECN, an initial $38.5 million contract for work on the structure and a subsequent $9.1 million contract for fit-outs to the facility’s basement, first and second levels.
“We are very pleased that Canem will continue to manage the electrical construction component of this landmark infrastructure project,” said Bill Crarer, Seacliff’s CEO. “The new contract is testament to Canem’s proven ability to successfully execute large, complex, multi-year projects like the ECN.”
This marks the fourth institutional infrastructure project win that Seacliff has announced since the beginning of January. The other three projects include a $40 million electrical contract at Southern Alberta Institute of Technology in Calgary, a $31.8 million construction management contract at British Columbia Institute of Technology in Vancouver and a $30.0 million construction management contract for a new public library in Surrey, BC.
About the Edmonton Clinic North
The ECN is the 570,000 square foot teaching, research and administration portion of the Edmonton Clinic, a new, state-of-the-art facility that will unify one-stop outpatient care with leading-edge teaching and research practices. In January 2009, the Edmonton Clinic was ranked Canada’s 15th largest infrastructure project, with an estimated capital cost of $909 million. It is expected to be a regional, national and, potentially, an international catalyst in transforming the way patients are diagnosed and treated, how health sciences students are educated and trained, and how medical research is conducted. Project completion is anticipated for 2011.
For more information on the Edmonton Clinic please visit http://www.edmontonclinic.ca/.
About Seacliff Construction Corp.
Seacliff provides general contracting construction services, electrical contracting and earthmoving services to a wide array of clients in both the public and private sectors. The majority of the company’s business is derived from institutional, commercial, civil and light industrial construction projects. Headquartered in Vancouver, British Columbia, Seacliff operates across Western Canada, with 22 locations in British Columbia, Alberta, Saskatchewan and Manitoba, as well as two locations in Northwestern Ontario. Seacliff’s business is conducted through three business units: Dominion Construction, a general contractor; Canem Systems, an electrical contractor; and the Broda Construction Group, an earthmoving and heavy civil construction contractor.
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Forward-Looking Statements
This press release contains statements concerning Seacliff’s services, use of funds, business plan, and objectives. Seacliff’s Total Work on Hand, other expectations, plans, goals, objectives, assumptions, information or statements about future events or conditions may constitute forward-looking statements or information under applicable securities legislation. Such forward-looking statements or information are based on a number of assumptions which may prove to be incorrect. Assumptions have been made regarding, among other things, the successful implementation of Seacliff’s business plan, the availability to Seacliff of qualified personnel, the continuation and completion of the projects forming Seacliff’s Total Work on Hand, and general economic, business and market conditions. Although Seacliff believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Seacliff can give no assurance that such expectations will prove to be correct. The forward-looking statements are based on the Corporation’s current expectations, estimates and projections, and are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, among others, Seacliff’s ability to be retained for existing and new project work by existing and new clients, Seacliff’s ability to retain and hire the qualified personnel required, the delay or cancellation of projects forming Seacliff’s Total Work on Hand, general economic, business and market conditions, and other risks as are detailed from time to time in the continuous disclosure filings of Seacliff. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. These forward-looking statements are made as of the date of this press release, and Seacliff assumes no obligation to update or revise them to reflect new events or circumstances, except as required by applicable laws
