TORONTO, ONTARIO -- (Marketwired) -- 04/27/16 -- AlarmForce Industries Inc. (AlarmForce or the Company) (TSX: AF) acknowledges receipt of a Statement of Claim (the Claim) made by Robert Hepburn and 1154300 Ontario Inc. (collectively, Hepburn), a former franchisee who operated an AlarmForce business in southwestern Ontario from 1995 until December 2015. Hepburn seeks total damages of $18 million for, among other claims, breach of contractual and statutory obligations. The Claim fails to describe the basis for, or the particulars of, the amounts sought.
AlarmForce is reviewing the Claim with its counsel and believes that it is without merit. AlarmForce intends to defend the claim vigorously.
As the matter of the Claim is now before the courts, the Company will have no further statement to make; unless and until a decision is reached by the court, or a settlement is reached prior to court proceedings.
About AlarmForce
AlarmForce provides security alarm monitoring, personal emergency response monitoring, video surveillance and related services to residential and commercial subscribers throughout Canada and in the United States. More information about the Company's products and services can be found at www.alarmforce.com.
This document contains certain "forward-looking information". All statements, other than statements of historical fact, that address activities, events or developments that AlarmForce believes, expects or anticipates will or may occur in the future including, without limitation, statements relating to the Claim, the Company's intention to defend itself and the expected outcome of the Claim. These forward-looking statements reflect the current expectations or beliefs of AlarmForce based on information currently available to AlarmForce. Forward-looking statements are subject to a number of significant risks and uncertainties and other factors that may cause the actual results of AlarmForce to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on AlarmForce. Factors that would cause actual results or events to differ materially from current expectations include, but are not limited to, the risks associated with how a court may rule, the possibility of settlement, the ability of the Company to successfully defend itself and further action taken by Hepburn that is outside of the Company's control.
Any forward-looking statement speaks only as at the date on which it is made and, except as may be required by applicable securities laws, AlarmForce disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although AlarmForce believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Contacts:
Chris Lynch
(416) 445-2001 ext. 114
(416) 445-9381 (FAX)
clynch@alarmforce.com
News Media:
Hugh Mansfield/Nila Halycia
(416)-599-0024/(212)-370-5045
hugh@mansfieldinc.com
nila@mansfieldinc.com
