Horizon North Logistics Inc. (HNL) 2016年年度报告「TSX」.pdf

1、 Annual Report 2016 Table of Contents Page Information on Annual Meeting ifc Presidents Letter to Shareholders 3 Managements Discussion and Analysis 4 Managements Report to Shareholders 33 Independent Auditors Report to Shareholders 34 Consolidated Financial Statements 35 Notes to the Consolidated F

2、inancial Statements 39 Corporate Information obc Information on Annual and Special Meeting The Annual and Special Meeting of holders of common shares of Horizon North Logistics Inc.will be held on the 4th day of May 2017 at 3:00 p.m.(local time)in the Devonian Room of the Calgary Petroleum Club,319

3、5th Avenue SW,Calgary,Alberta.Shareholders are encouraged to attend and those unable to do so are requested to complete and submit the Instrument of Proxy at their earliest convenience.Presidents Letter to Shareholders Page|3 Dear Shareholders,Serving as President and CEO of Horizon North it is my p

4、rivilege to be able to write this letter to you.2016 was a challenging year for a number of companies,similar to ours,who provide a product and service offering to customers across the Western Canadian resource industry.Instead of taking the time to discuss all of the headwinds we faced during the p

5、ast yearthe impact of low commodity prices,atrophied capital spending profile,uncertainty associated with change in fiscal policy at provincial and federal levels,suffering and the devastation caused by the Fort McMurray fires,the impact of change in U.S.GovernmentI understand your interest in Horiz

6、on North is borne out of Managements belief in the direction our firm is heading not the challenges it has faced.Our journey of transformational change continues to be supported by the bedrock of 1100 Horizon North employees who believe.We Believe in understanding our customers,who they are,what the