COLLINGWOOD, Ontario, Sept. 21, 2022 (GLOBE NEWSWIRE) — The Limestone Boat Company (the “Company”) (TSXV: BOAT | OTCQB: LMSBF) – owner and builder of Aquasport Boats, Limestone® Boats and Boca Bay Boats – is pleased to announce that it has placed an initial order for the first fully electric propulsion systems to be installed on its 2024 Model Year EV boats following the successful sea trial results of its Vision Marine (NASDAQ: VMAR) E-Motion™ electric outboard-powered Aquasport 2100CC this summer.
The in-water testing fully validated the Company’s EV engine partner Vision Marine as the preeminent provider of high-performance electric power in the recreational boating market, yielding impressive speed, operating and recharging times, and handling results. The new EV model will debut later this month in the Vision Marine Technologies display at the Fort Lauderdale International Boat Show. Consumers there will be able to place a deposit to secure one of the first-run production models slated for delivery in Q4 2023.
The Limestone Boat Company will continue to expand its electric footprint, integrating EV systems and upgrading existing and future models to accommodate the demand from customers looking for a quieter, emission-free boating alternative. Additionally, the Company is identifying ideal geographic markets, models, distribution, retail partners, and sales development given the validation of the performance metrics and the Company’s early-mover market opportunity.
“Our choice to partner with Vision Marine to deliver a state-of-the-art EV boating experience has proven to be the right one. We’re excited to move forward with this initial order for Vision’s E-Motion powertrain and adding an EV offering to our 2024 Model Year lineup,” said Limestone Boat Company CEO Scott Hanson. “Showcasing the E-Motion powertrain’s capabilities, the sea trials definitively demonstrated our partnership’s shared commitment to safety, quality, and reliability. The performance and stability of our renowned deep-V hull was not compromised in any way, and was still compliant with the safety standards that the Limestone Boat Company demands, which are above and beyond industry compliance standards.”
Traditional internal combustion engine boat sales remain strong and are expected to continue to grow, as indicated by the strength of the Company’s order backlog and its engine partners’ offerings, further reinforcing that conventional propulsion will remain an emphasis of the Company for the foreseeable future. As consumer interest and adoption of electric-powered boats increases however, the Company will be at the forefront of the transition, established by its early EV engine partnership and integration commitment. The Company’s EV offering will provide customers with a reliable and dependable boating experience featuring groundbreaking electric power performance that won’t compromise the expectations and ride characteristics for which the Company’s Brands and Models are renowned.
For more information on the Limestone Boat Company’s EV initiatives visit www.limestoneboatcompany.com
About The Limestone Boat Company Limited
The Limestone Boat Company – owner and builder of Aquasport Boats, Limestone® Boats and Boca Bay Boats – is publicly traded on the Toronto Venture Exchange under the ticker symbol BOAT and on the U.S.-based OTCQB® Venture Market under the ticker symbol LMSBF. They are headquartered in Collingwood, Ontario with a 145,000 sq. ft. manufacturing facility in White Bluff, Tennessee. The company is backed by a large, skilled labor force and dealer partners throughout the United States and the Canadian Great Lakes Region.
For more information, contact:
Bill Mitoulas | Investor Relations
800-720-2395
bi**@li************.com” class=”link”>bi**@li************.com
www.limestoneboatcompany.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release, and other publicly available documents including the documents referenced herein, constitute forward-looking information or forward-looking statements (collectively, “forward-looking information)”. These statements relate to future events or future performance. The use of any of the words “anticipate”, “believe”, “could” “should”, “would”, “estimate”, “expect”, “forecast”, “indicate”, “intend”, “likely, “may”, “plan”, “potential”, “project”, “outlook”, “seek”, “target”, “trend” or “will” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Examples of such forward-looking information include, without limitation, the projected growth of the electric outboard and recreational boating markets, guidance with respect to the projected number of electric-powered boat models to be ordered by the Company, further development of the Company’s electric-powered models, including in connection with the technology provided by Vision Marine, the timing for the Company accepting orders and bringing such electric-powered boats to market, and the performance statistics of the Company’s boats, including its electric-powered boats. Actual future results may differ materially. The Company is subject to a number of risks relating to integration and go-forward operations, certain of which are more particularly described in the Company’s public filings available on SEDAR including, without limitation, the filing statement filed by the Company on February 23, 2021, and the Management’s Discussion and Analysis for the year ended December 31, 2021 and the three months ended March 31, 2022. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
Many factors could cause actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements. All the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors in this press release. There can be no assurance that the actual results or developments will be realized or, even if substantially realized, will have the expected consequences to, or effects on, the Company. Unless required by applicable securities law, the Company does not intend and does not assume any obligation to update these forward-looking statements.
Related Quotes
Plug Power (PLUG) closed the most recent trading day at $25.52, moving -1.85% from the previous trading session.
After popping briefly yesterday on positive analyst commentary over its 2022 Global Technical Conference performance, Nvidia (NASDAQ: NVDA) stock is trending lower again Thursday — down 5% through 11 a.m. on some curious comments from the company's CEO. Commenting on what some analysts have called the "eye-watering" prices announced for its latest series of GeForce RTX graphics, Nvidia CEO Jensen Huang asserted that "Moore's Law is dead" — and that semiconductor prices are only going up from here. To refresh your memory, Moore's Law is an assertion made by legendary Intel engineer Gordon Moore in 1965, that the number of transistors in an integrated circuit roughly doubles every two years, with the result that semiconductors will get both better and cheaper over time.
In this article, we will look at billionaire Ken Fisher’s top 10 growth stock picks. If you want to explore similar stocks, you can also take a look at Ken Fisher’s Top 5 Growth Stock Picks. Ken Fisher is an American billionaire investor and financial analyst. Mr. Fisher is the hedge fund manager of Fisher […]
Growth and technology stocks are leading the market lower today, but early-stage electric vehicle (EV) stocks are tanking even more. The Nasdaq Composite Index moved down by more than 1.2% as of 2:55 p.m. ET, but EV start-ups Rivian Automotive (NASDAQ: RIVN), Lucid Group (NASDAQ: LCID), and Nikola (NASDAQ: NKLA) were faring much worse. At that time, Rivian, Lucid, and Nikola had dropped 4.6%, 8.6%, and 9%, respectively.
You have just a few weeks to pounce on Treasury I bonds' sky-high interest rate. Also called Series I savings bonds, their interest rate is 9.62%.
In this article, we shall discuss the 10 best undervalued stocks to buy now according to billionaire D.E. Shaw. To skip our detailed analysis of Shaw’s history, his investment philosophy, and hedge fund performance, go directly and see 5 Best Undervalued Stocks to Buy Now According to Billionaire DE Shaw. David Elliot Shaw, an American […]
“We printed up too much money, and just thought the party would never end,” Icahn said, adding that with the Fed raising rates to fight inflation, "the party's over."
In the latest trading session, Energy Transfer LP (ET) closed at $11.86, marking a -0.59% move from the previous day.
Shares of online car-buying company Carvana (NYSE: CVNA) tumbled this morning just one day after the Federal Reserve hiked the federal funds rate by an additional 75 basis points. Carvana investors are likely worried that the Fed is pushing the economy closer to a recession and worry that an economic slowdown will hurt the company's business. As a result, Carvana's share price plunged 10.1% as of 1:14 p.m. ET.
The retreat is being driven by soaring inflation and rising interest rates, which are putting the brakes on the economy and forcing investors to rethink their growth expectations. Upstart Holdings (NASDAQ: UPST), for example, uses artificial intelligence (AI) to originate loans for banks on other lenders, and investors have doubts about how well its lending models will hold up as household finances deteriorate. Upstart's main goal is to displace the standard tools used to size up the risk in consumer lending.
The latest Federal Reserve rate hike and Fed Chair Jerome Powell's vow to do whatever is necessary to fight inflation are rippling through markets, sending shares down due to investor fears that the Fed's actions will push the economy into a recession. Travel is perhaps the ultimate big-ticket discretionary purchase, and airline stocks are tumbling as part of the broader sell-off. Shares of JetBlue Airways (NASDAQ: JBLU), American Airlines Group (NASDAQ: AAL), and United Airlines Holdings (NASDAQ: UAL) are all down as much as 5%, with shares of Delta Air Lines (NYSE: DAL), Alaska Air Group (NYSE: ALK), and Southwest Airlines (NYSE: LUV) all down 3% or more.
Having excellent management is vital for both a successful company and its stock. It's rare to see both positions depart simultaneously, and with Shopify's recent struggles, investors may think the ship is beginning to sink. Or is Shopify still a great stock to own?
A look at the shareholders of fuboTV Inc. ( NYSE:FUBO ) can tell us which group is most powerful. The group holding the…
This year's market slump created several growth stock bargains. But not every apparent bargain is what it seems.
Investors waiting for Palantir Technologies (NYSE: PLTR) to report a quarter with breakout growth are likely in for a longer wait, according to a Wall Street analyst. Given the uncertain economic environment, it appears fewer investors are willing to continue to wait. Shares of Palantir were down more than 5% on Thursday afternoon as Wall Street continues to shy away from more speculative growth stocks.
The S&P 500 is down more than 2% since Tuesday’s close. There is reason to believe markets are close to finding a floor.
Yahoo Finance's Jared Blikre breaks down how stocks are moving after the Fed's interest rate hike on Wednesday.
Yahoo Finance's Brian Sozzi reports on FedEx's earnings report that cites its cost savings outlook for 2023.
Shares of several payments and fintech stocks struggled to shake off a hangover from the Federal Reserve's September meeting yesterday, in which the Fed delivered another big rate hike. Shares of the large payments rail Mastercard (NYSE: MA) traded nearly 1.5% lower in the final hour of trading today. Shares of the buy now, pay later (BNPL) company Affirm (NASDAQ: AFRM) traded more than 6% lower, and shares of digital bank SoFi (NASDAQ: SOFI) were down nearly 5%.
Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) wishes to announce that, further to its announcement on February 6, 2022, it has entered into a definitive purchase and sale agreement with its partner, Namcor Exploration and Production (Pty) Ltd. ("NAMCOR") dated September 21, 2022, to acquire half of NAMCOR's 10% carried participating interest in the approximate 6.3 million acres petroleum exploration licence (PEL 73) in the Kavango
About Author
