Horizon North Logistics Inc. Announces Results For the Quarter Ended March 31, 2014

Calgary, Alberta, Canada, April 29, 2014 – TSX Symbol: HNL

Horizon North Logistics Inc. (“Horizon” or the “Corporation”) reported its financial and operating results for the three months ended March 31, 2014 and 2013.

First Quarter Highlights

Consolidated revenues and EBITDAS decreased 13% and 36% respectively compared to Q1 2013; but increased by 12% and 15% respectively as compared to Q4 2013;
Camp rental and catering operations revenues and EBITDAS were consistent with Q1 2013 but increased by 46% and 75%

respectively as compared to Q4 2013;

As anticipated, manufacturing sales revenues declined by 44% as compared to Q1 2013; manufacturing sales margins were eroded as a result of delays on two significant projects;
Q2 2014 manufacturing activities to be focused on internal projects; 62% of manufacturing capacity for the second half of 2014

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