SEPT-ÎLES, October 24, 2014 – With regard to the legal mortgage filed by Pomerleau Inc., the Port of Sept-Îles wishes to declare that this action will have no impact.

Legally, under the constitution of the Port of Sept-Îles as a Canadian port authority, the land and property under its management and administration cannot be subjected to any legal mortgage because of its status of federal property.

Furthermore, the Port of Sept-Îles strongly disputes any additional sums claimed by Pomerleau Inc., above and beyond the contract amount, for additional expenses that it may have incurred. Following analysis of the situation, these appear to have actually resulted from the contractor’s lack of foresight and from operational issues for which it is responsible.

As a result, the Port has asked its lawyers to explore the possibility of filing its own claim against the contractor for delays at the site. Since the matter is now in the hands of its attorneys, the Port of Sept-Îles will make no further comment.

ABOUT THE PORT OF SEPT-ÎLES

Boasting a variety of state-of-the-art facilities, the Port of Sept-Îles is the leading iron ore port in North America, with an annual volume close to 30 million tons. Sept-Îles’s port facilities play a vital and strategic role in Eastern Canada’s economy. The Port’s annual economic impact is estimated at nearly $1 billion, with some 4,000 direct and indirect jobs.

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