Goodfellow Provides a Status Report Regarding its Financial Information for the Third Quarter

DELSON, QUEBEC--(Marketwired - Oct. 27, 2016) - Goodfellow Inc. (TSX:GDL) ("Goodfellow" or the "Corporation") is providing today a status report regarding its third quarter financial information following its announcement on October 13, 2016 by way of press release that the filing of its interim financial report, interim management discussion and analysis and interim certificates for the quarter ended August 31, 2016 would be delayed.

There is no material change regarding the information contained in the Corporation's press release of October 13. The Corporation continues to work diligently to solve the discrepancies stemming from the implementation at the beginning of the current fiscal year of the Corporation's new integrated financial information system in order to ensure the integrity of its financial results.

There is no failure by the Corporation in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines, and there is no actual or anticipated default subsequent to the default announced in its press release of October 13. There is no other material information concerning the affairs of the Corporation that has not been generally disclosed.

ABOUT GOODFELLOW

Goodfellow Inc. is one of eastern Canada's largest independent re-manufacturers and distributors of lumber and hardwood flooring products. Goodfellow shares trade on the Toronto Stock Exchange under the symbol GDL.

For more details, please go to www.goodfellowinc.com