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NEWS RELEASE

OMNI-LITE ANNOUNCES NEW

THREE YEAR AEROSPACE CONTRACT

 
   Backlog increases to $11.1 million US
 

TSXV: OML

OTCQX: OLNCF

LOS ANGELES, CALIFORNIA, AUGUST 12, 2016 - Omni-Lite Industries Canada Inc. (the "Company" or "Omni-Lite") is pleased to announce that it has received a new $4.8 million US, three-year contract from a major aerospace customer. At today's conversion rate this contract would be valued at approximately $6.3 million CDN. Additional value could accrue to this program as the contract can be amended to include new components at any time during the contract term. "This contract increases the Company's current backlog to $11.1 million US," stated Tim Leybold, CFO. "The contract also significantly improves the Company's revenue visibility over the next several years."

"This contract is the second multi-year aerospace contract signed in the last six months and represents a tremendous vote of confidence in the state-of-the-art engineering and manufacturing facility that the Company has built in Southern California. The total of both these contracts is almost $7.9 million US or $10.2 million CDN," stated Allen Maxin, President. "The aerospace industry is expected to show significant growth over the next decade. The Company has made a major long-term effort to be an important contributor in this industry."

We seek Safe Harbor.

Omni-Lite Industries Canada Inc. is a rapidly growing high technology company that develops and manufactures mission critical, precision components utilized by Fortune 500 companies including Boeing, Airbus, Bombardier, Embraer, Ford, Borg Warner, Chrysler, the U.S. Military, and Nike.

Except for historical information contained herein this document contains forward-looking statements. These statements contain known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein.

 
For further information, please contact: 

 
Mr. Tim Leybold, CFO
Tel. No. (562) 404-8510 or (800) 577-6664
Fax. No. (562) 926-6913
Email: t.leybold@omni-lite.com
 
Website:  www.omni-lite.com
 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 
 
 

 

 

 

 

Proud to be a publicly traded company under the symbols OML in Canada (TSX-V) and OLNCF in the USA (OTCQX)

 
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