The Limestone Boat Company Is Moving Its CFO Position to Tennessee

Rhea-AI Summary

The Limestone Boat Company (OTCQB: LMSBF) has appointed Ryan Lupton as its new Interim Chief Financial Officer. This decision comes as the company focuses on expanding production at its Tennessee facility and plans to search for a full-time CFO for that location. Lupton has previously provided financial services to the company through BDO. The company expressed gratitude towards former CFO Pete Pigott for his contributions. Limestone Boat is known for its brands, including Aquasport and Limestone Boats, and operates from Collingwood, Ontario.

Positive

• Appointment of Ryan Lupton as Interim CFO enhances leadership.
• Increased production at Tennessee facility indicates business growth.
• Plans for further expansion suggest positive future outlook.

Negative

• None.

COLLINGWOOD, Ontario, March 15, 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 – has announced the appointment of Ryan Lupton as its Interim Chief Financial Officer.

With increased production in the Company’s Tennessee facility, as well as planned expansion in the coming year, the Company will be searching for a ful-time CFO to be located in Tennessee. Mr. Lupton, who has been with BDO providing finance services to the Company for the past year, has joined the Company’s team as full-time Interim CFO, until such time as a new CFO is appointed and located in Tennessee.

“We would like to thank Pete Pigott for his exceptional work and wish him the best in his future endeavors,” said Scott Hanson, Chief Executive Officer of the Limestone Boat Company.

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. 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
bill@limestoneboats.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 constitute 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. 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 MD&A. 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.

FAQ

Who is the new Interim CFO of Limestone Boat Company?

Ryan Lupton has been appointed as the Interim Chief Financial Officer of Limestone Boat Company.

What is Limestone Boat Company's stock symbol?

Limestone Boat Company's stock symbol is LMSBF on the OTCQB.

Where is Limestone Boat Company located?

Limestone Boat Company is headquartered in Collingwood, Ontario, with a manufacturing facility in Tennessee.

What brands does Limestone Boat Company produce?

The company produces Aquasport Boats, Limestone Boats, and Boca Bay Boats.

What are the future plans for Limestone Boat Company?

Limestone Boat Company plans to expand production and search for a full-time CFO located in Tennessee.