CALGARY, AB, March 16, 2022 /CNW/ - Canadian Pacific Railway
Limited (TSX: CP) (NYSE: CP) today made the following statement in
response to the Surface Transportation Board's (the "STB") decision
on Wednesday asking Applicants to "address an apparent
inconsistency in certain data submitted" to the STB.
CP welcomes and expects a comprehensive regulatory and
environmental review of our application and shares the STB's desire
for accurate, consistent information across all aspects of that
review. As called for by the decision, CP will submit to the STB by
March 21 a full explanation of the
data submitted with its Application and shared with the Board's
Office of Environmental Analysis in connection with its review of
the Application. We look forward to the STB restarting the
procedural schedule for its review of the proposed CP-KCS
transaction following its review of the explanation Applicants will
provide.
Forward-Looking Statements and Information
This news release includes certain forward looking statements
and forward looking information (collectively, "FLI") relating to
the STB's regulatory review of the CP-KCS combination. FLI is
typically identified by words such as "anticipate", "expect",
"project", "estimate", "forecast", "plan", "intend", "target",
"believe", "likely" and similar words suggesting future outcomes or
statements regarding an outlook. All statements other than
statements of historical fact may be FLI.
Although we believe that the FLI is reasonable based on the
information available today and processes used to prepare it, such
statements are not guarantees of future performance and you are
cautioned against placing undue reliance on FLI. By its nature, FLI
involves a variety of assumptions, which are based upon factors
that may be difficult to predict and that may involve known and
unknown risks and uncertainties and other factors which may cause
actual results, levels of activity and achievements to differ
materially from those expressed or implied by these FLI, including,
but not limited to,the scope and timing of regulatory review.
We caution that the foregoing list of factors is not exhaustive
and is made as of the date hereof. Additional information about
these and other assumptions, risks and uncertainties can be found
in reports and filings by CP with Canadian and U.S. securities
regulators. Reference should 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 reports on Form 10-K and 10-Q. Due to the
interdependencies and correlation of these factors, as well as
other factors, the impact of any one assumption, risk or
uncertainty on FLI cannot be determined with certainty.
Except to the extent required by law, we assume no obligation to
publicly update or revise any FLI, whether as a result of new
information, future events or otherwise. All FLI in this news
release is expressly qualified in its entirety by these cautionary
statements.
About Canadian Pacific
Canadian Pacific (TSX: CP)
(NYSE: CP) is a transcontinental railway in Canada and the
United States with direct links to major ports on the west
and east coasts. CP provides North American customers a competitive
rail service with access to key markets in every corner of the
globe. CP is growing with its customers, offering a suite of
freight transportation services, logistics solutions and supply
chain expertise. Visit www.cpr.ca to see the rail advantages of CP.
CP-IR
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SOURCE Canadian Pacific