Horizon North Logistics Inc. Announces Contract For Black Sand Executive Lodge

Horizon North Logistics Inc. announces that it has entered into a three year contract with Suncor Energy Services Ltd. for the utilization of 480 rooms at the Company’s Black Sand Executive Lodge located north of Fort McMurray near Suncor’s Voyager oil sands project.

Horizon is currently planning to expand the size of the Black Sand Executive Lodge and the contract with Suncor includes a right of first refusal on occupancy of an additional 148 rooms on the same terms as the initial 480 rooms.

“Terms of the Black Sand contract are consistent with the estimated project economics used when we decided to proceed with the Black Sand Executive Lodge. The concept of higher end accommodation units has been well received by customers in the work force housing market. This contract further diversifies our revenue stream away from the conventional oil and gas market towards the less seasonal, longer term oil sands related market”, said Ric Peterson, Horizon’s Chairman and Chief Executive Officer.