Hammond Manufacturing Company Limited Statement of Claim Settlement

Hammond Manufacturing Company Limited (HMCL) (TSX:HMM.A) announced today that a
settlement of statements of claim has been reached between an adjoining
industrial property owner, and HMCL and Hammond Power Solutions Inc. (HPS).


The 2 Glen Road, Georgetown, Ontario property is owned equally between HMCL and
HPS. In January 2002, HMCL and HPS were served with a statement of claim by an
adjoining industrial property owner, in which the plaintiff had claimed damages
in the amount of $8,000,000. In 2004, HMCL and HPS served a counter-claim
against the plaintiff in the amount of $8,000,000. Both claims have been settled
by agreement between the parties which includes a joint remediation plan. HMCL
has previously provided for what it expects to be its environmental remediation
costs for the property in its financial statements and the Company is not aware
of any additional contingencies for the Property or statements of claim.


About Hammond Manufacturing Company Limited

HMCL manufactures a broad range of products for the electronic and electrical
products industry, including metallic and non-metallic enclosures, racks, small
cases, outlet strips, surge suppressors and electronic transformers. 


Caution Regarding Forward-Looking Information

This press release contains "forward-looking information" within the meaning of
applicable securities laws. The forward-looking information contained in this
press release is subject to known and unknown risks, uncertainties and other
factors that are not within the control of HMCL. Generally, this forward-looking
information can be identified by the use of forward-looking terminology, such
as, "outlook", "anticipate", "project", "target", "believe", "estimate",
"expect", "intend", "should", "scheduled", "will", "plan" and similar
expressions. Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause HMCL's actual results, level of
activity, performance or achievements to be materially different from those
expressed or implied by such forward-looking information and developed based on
assumptions about such risks, uncertainties and other factors set out herein.


A discussion of factors that may affect HMCL's actual results, performance,
achievements or financial position is contained in the filings by HMCL with the
Canadian securities regulatory authorities, including HMCL Annual Information
Form. This list is not exhaustive of the factors that may affect our
forward-looking information. These and other factors should be considered
carefully and readers should not place undue reliance on such forward-looking
information. HMCL disclaims any intent or obligations to update or revise
publicly any forward-looking statements whether as a result of new information,
estimates or options, future events or results or otherwise, unless required to
do so by law.

Hammond Manufacturing (TSX:HMM.A)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024