Following CP's successful return to Atlantic Canada, Government of Canada and Province of New Brunswick announce critical supply chain investment for Port Saint John and New Brunswick Southern Railway & More News Here

CALGARY, AB, May 25, 2022 /PRNewswire/ – Canadian Pacific (TSX: CP) (NYSE: CP) at present applauded the announcement made by the Government of Canada and the Province of New Brunswick to spend money on extra capability growth at Port Saint John. The want for extra capability at Port Saint John is pushed by CP’s successful return to Atlantic Canada by way of our acquisition of the Central Maine and Quebec Railway, which now connects Atlantic Canada to Montreal, Toronto and the U.S. Midwest with a extra seamless route operated by a Class 1 railway that’s 200 miles shorter than different transport choices.

“CP is excited to be back in Atlantic Canada and proud of the much-needed competition our return has brought to the freight transportation market in New Brunswick,” stated Keith Creel, CP President and CEO. “The additional investment announced today by the federal government and the Province of New Brunswick will make a significant impact for Port Saint John and for Canada’s supply chains. The funding will bring Port Saint John’s capacity up to 800,000 TEUs, almost tripling the Port’s existing capacity.”

CP additionally applauds the Government of Canada’s choice to spend money on bettering the rail infrastructure alongside the New Brunswick Southern Railway, a critical hyperlink between Port Saint John and CP’s North American rail community through the Central Maine and Quebec Railway (CMQ).

“We are proud to be working closely with Port Saint John, DP World, J. D. Irving and the New Brunswick Southern Railway – building momentum in Atlantic Canada,” added Creel. “This strategic investment will help to improve the resiliency and competitiveness of Canada’s export-driven supply chains, and, combined with the increased competition generated by our return, help to transform Port Saint John into a truly global, premier trade gateway.”

CP introduced in 2020 that it will make investments $90 million over three years to improve the rail infrastructure alongside the CMQ, bettering security, effectivity and resiliency.

CP additionally lately introduced Hapag-Lloyd is making an extra seasonal vessel name to Port Saint John, additional recognition of the Port Saint John’s worth. Learn extra about CP’s East Coast Advantage at eca.cpr.ca/psj 

Note on forward-looking data
This information launch comprises sure forward-looking data and forward-looking statements (collectively, “forward-looking information”) inside the that means of relevant securities legal guidelines. Forward-looking data consists of, however will not be restricted to, statements regarding expectations, beliefs, plans, objectives, targets, assumptions and statements about attainable future occasions, circumstances, and outcomes of operations or efficiency. Forward-looking data could include statements with phrases or headings resembling “will”, “anticipate”, “believe”, “expect”, “plan”, “should” or related phrases suggesting future outcomes.

This information launch comprises forward-looking data relating, however not restricted, to funding from the the province of New Brunswick to spend money on extra capability at Port Saint John and funding from the Government of Canada to spend money on rail infrastructure alongside the New Brunswick Southern Railway the anticipated timing and use of, and impacts and advantages to, the Port of Saint John from this funding and the anticipated and future advantages of CP’s rail community from the Port of Saint John to companies in Atlantic Canada, CP’s prospects and the supply chain.

The forward-looking data contained on this information launch is predicated on present expectations, estimates, projections and assumptions, having regard to CP’s expertise and its notion of historic developments, and consists of, however will not be restricted to, expectations, estimates, projections and assumptions relating to: North American and international financial progress; commodity demand progress; agricultural manufacturing; commodity costs and rates of interest; efficiency of our belongings and gear; relevant legal guidelines, laws and authorities insurance policies; the provision and price of labour, companies and infrastructure; the satisfaction by third events of their obligations to CP; the anticipated impacts of the novel pressure of coronavirus (and the illness often known as COVID-19); and capital investments by third events. Although CP believes the expectations, estimates, projections and assumptions mirrored within the forward-looking data offered herein are affordable as of the date hereof, there will be no assurance that they’ll show to be right. Current circumstances, financial and in any other case, render assumptions, though affordable when made, topic to better uncertainty.

Undue reliance shouldn’t be positioned on forward-looking data as precise outcomes could differ materially from these expressed or implied by forward-looking data. By its nature, CP’s forward-looking data includes inherent dangers and uncertainties that might trigger precise outcomes to differ materially from the ahead trying data, together with, however not restricted to, the next components: adjustments in enterprise methods; normal North American and international financial, credit score and enterprise circumstances; dangers related to agricultural manufacturing, resembling climate circumstances and insect populations; the provision and value of power commodities; the consequences of competitors and pricing pressures; business capability; shifts in market demand; adjustments in commodity costs; uncertainty surrounding timing and volumes of commodities being shipped through CP; inflation; adjustments in legal guidelines, laws and authorities insurance policies, together with regulation of charges; adjustments in taxes and tax charges; potential will increase in upkeep and working prices; adjustments in gasoline costs; uncertainties of investigations, proceedings or different sorts of claims and litigation; labour disputes; dangers and liabilities arising from derailments; transportation of harmful items; timing of completion of capital and upkeep initiatives; foreign money and rate of interest fluctuations; commerce restrictions or different adjustments to worldwide commerce preparations; local weather change; varied occasions that might disrupt operations, together with extreme climate, resembling droughts, floods, avalanches and earthquakes, and cybersecurity assaults, in addition to safety threats and governmental response to them, and technological adjustments; and the pandemic created by the outbreak of the novel pressure of coronavirus (and the illness often known as COVID-19) and ensuing results on financial circumstances, the demand surroundings for logistics necessities and power costs, restrictions imposed by public well being authorities or governments, fiscal and financial coverage responses by governments and monetary establishments, and disruptions to international supply chains. The foregoing listing of components will not be exhaustive. These and different components are detailed from time to time in stories filed by CP with securities regulators in Canada and the United States. Reference ought to be made to “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Forward-Looking Statements” in CP’s annual and interim stories on Form 10-Ok and 10-Q.

The forward-looking data contained on this information launch is made as of the date hereof. Except as required by legislation, CP undertakes no obligation to replace publicly or in any other case revise any forward-looking data, or the foregoing assumptions and dangers affecting such forward-looking data, whether or not in consequence of new data, future occasions or in any other case.

About Canadian Pacific
Canadian Pacific is a transcontinental railway in Canada and the United States with direct hyperlinks to main ports on the west and east coasts. CP gives North American prospects a aggressive rail service with entry to key markets in each nook of the globe. CP is rising with its prospects, providing a set of freight transportation companies, logistics options and supply chain experience. Visit cpr.ca to see the rail benefits of CP. CP-IR

SOURCE Canadian Pacific

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