PLC Continues to Expand Operations in New Jersey and New York Area

TORONTO, Oct. 1, 2018 /CNW/ - Park Lawn Corporation (TSX: PLC) ("PLC" or the "Company") is pleased to announce that its New Jersey affiliated cemetery, Restland Memorial Park Association, has completed its purchase of 78 acres of land in the Township of Lafayette, New Jersey. The US$3 million purchase closed shortly after regulatory approvals were granted permitting the use of this property as a cemetery and an expansion of Restland Memorial Park.  The acquisition was funded from PLC's existing credit facility. The new property has been named the Eternal Sunset Memorial Park and Cemetery and is expected to open during the fourth quarter of 2018.

This new cemetery will be operated as part of PLC's CMS Mid Atlantic subsidiary, which currently operates, manages and provides financial services for seven other cemeteries in New Jersey (6) and New York (1).

"This is an exciting addition to our operations, providing much needed cemetery land close to the metropolitan New Jersey / New York area, one of North America's most densely populated and diverse markets," stated Andrew Clark, Chairman & CEO of PLC. "Following a modest investment to prepare the property for lot sales, which will be completed in the coming weeks, we expect this property to drive organic growth in this market."

About Park Lawn Corporation

PLC provides goods and services associated with the disposition and memorialization of human remains. Products and services are sold on a pre-planned basis (pre-need) or at the time of a death (at-need). PLC and its subsidiaries own and operate businesses including cemeteries, crematoria, funeral homes, chapels, planning offices and a transfer service. PLC has a North American wide platform with operations in five Canadian provinces and ten US states.

Cautionary Statement Regarding Forward-Looking Information

This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to the business of PLC and the environment in which it operates. Forward-looking statements are identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "estimate", "pro-forma" and other similar expressions. These statements are based on PLC's expectations, estimates, forecasts and projections and include, without limitation, statements regarding the proposed opening of Eternal Sunset Memorial Park and PLC's growth prospects. The forward-looking statements in this news release are based on certain assumptions, including without limitation that the proposed investment into Eternal Sunset Memorial Park will drive organic growth. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under the heading "Risk Factors" in PLC's annual information form available at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, PLC assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

SOURCE Park Lawn Corporation