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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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