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Luxor Announces Additional Contract Awards; Over 50% of 2017 Total Revenue Projections Now Under Contract

VANCOUVER, British Columbia, Nov. 15, 2016 (GLOBE NEWSWIRE) -- Luxor Industrial Corporation (“Luxor” or the “Company”) (TSX.V:LRL) (OTC:LXRRF) is pleased to announce that its Turnkey Framing Subsidiary Mill Frame LLC has signed four new turnkey framing contracts with PHC Construction of Bainbridge Island, Washington.

The four projects total over $1,200,000 and follow on from a successful project nearing completion for PHC on Bainbridge Island. Two of these projects are scheduled to start immediately and will be completed prior to the end of 2016. All four projects are either on Bainbridge Island or in Bremerton, Washington.

Luxor is proud to announce over 50% of its 2017 forecasted total revenues of $40 million is now fully contracted.

ABOUT LUXOR

Luxor’s operations are focused around a turnkey framing solution for multi-family complexes. With its manufacturing facility in Chilliwack, British Columbia, Luxor’s operations are focused on offering a complete service, including estimating, design, manufacturing and constructing, to General Contractors in the Western United States. For additional information, please visit www.millframe.com.

In addition, Luxor is involved in the development, engineering, manufacturing and marketing of engineered wood products. In the industrial sector, it manufacturers wood mat products.  In the residential sector it manufactures its patented IBS 2000® engineered floor bridging, fire protected architectural wood products, and FastFrame™ wall components. For further information, visit Luxor’s website at www.luxorcorp.com.

This news release contains forward looking statements. Although Management believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Luxor can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Additional information may be accessed through the Sedar website: www.sedar.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information contact Murray Lonseth, President and Chief Operating Officer at (403) 932-7427 or visit Luxor's website at www.luxorcorp.com.

/EIN News/ --

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