The Limestone Boat Company’s strong start to a transformative 2022 continues with dealer expansion in three new U.S. markets.
Collingwood, Ontario, March 23, 2022 – The Limestone Boat Company (the “Company”) (TSXV: BOAT, OTCQB: LMSBF) – owner and builder of Aquasport Boats, Limestone® Boats and Boca Bay Boats – is pleased to announce the addition of three new U.S. dealers to represent its Aquasport Boats line.
The three new Aquasport dealers – Suncoast Marine Group in Sarasota, Florida; Rogue Motion in Charleston, South Carolina; Lynden Sports Center in Coopersville, Michigan – offer the brand expanded market representation and bring the total number of Aquasport dealers to 26, accounting for 29 locations. Coupled with the recent addition of Aquasport’s first Canadian dealer DeWildt Marine & Powersports (3 Ontario locations), the brand has now added six new dealer locations in this year alone.
“We’re pleased to welcome these new dealers to represent our Aquasport Boats brand,” said The Limestone Boat Company CEO Scott Hanson. “Each has a solid reputation in their respective markets and further adds to the elevated class of dealerships we have in place to date. When we acquired the Aquasport brand, we set on a course for mass improvements across the board including facility, production, dealer network, and quality of product. We’ve had incredible interest from dealers wanting to join our team from day one, and it’s been important for us to develop relationships with not only our current dealer network, but to also add appropriate dealers in new markets as capacity becomes available to get our boat brands out to an even larger audience.”
The Company continues to increase its production numbers through effectively managing supply chain and COVID-related labor disruptions. Production and shipments are expected to continue to grow at a rate of one-half boat per week per month, subject to any unforeseen disruptions.
“We continue to see strong demand for our products and are focused on increasing our monthly production to meet our large order backlog,” Hanson added. “We’re also effectively managing our production and delivery efforts to ensure we are delivering on current dealer commitments and allotments as quickly as possible to meet their customer needs, and only then strategically bringing on new dealers for future capacity.”
About The Limestone Boat Company Limited
The Limestone Boat Company – owner and builder of Aquasport Boats, Limestone® Boats and Boca Bay Boats – is publicly traded on the Toronto Venture Exchange under the ticker symbol BOAT and on the U.S.-based OTCQB® Venture Market under the ticker symbol LMSBF. They are headquartered in Collingwood, Ontario with a 145,000 sq. ft. manufacturing facility in White Bluff, Tennessee. The company is backed by a large, skilled labor force and dealer partners throughout the United States and the Canadian Great Lakes Region.
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Bill Mitoulas | Investor Relations
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