VEGERVILLE, ALBERTA--(Marketwired - May 24, 2016) - On May 20, 2016, Mr. Dale Laniuk disposed of 1,998,800 common shares (the "Shares") in the capital of TerraVest Capital Inc. ("TerraVest"). Of these shares, 1,498,800 were disposed of through the facilities of the Toronto Stock Exchange and 500,000 were disposed of through a share purchase agreement entered into between Mr. Laniuk and TerraVest (the "Transactions"). The Shares were disposed of at a price of $6.00 per Share, for aggregate consideration of $11,992,800.
Prior to closing of the Transactions Mr. Laniuk directly and indirectly held 3,933,872 common shares in the capital of TerraVest, representing approximately 21.5% of the issued and outstanding common shares of TerraVest. On closing of the Transactions Mr. Laniuk held 1,935,072 common shares in the capital of TerraVest, representing approximately 10.6% of the issued and outstanding common shares of TerraVest.
Mr. Laniuk disposed of the securities for investment purposes and may, depending on market and other conditions, increase or decrease its beneficial ownership of TerraVest's securities.
This news release is being disseminated as required by National Instrument 62-103 - The Early Warning System and Related Take-Over Bids and Insider Reporting Issues in connection with the filing of an early warning report (the "Early Warning Report"). A copy of the Early Warning Report may be found on www.sedar.com under TerraVest's SEDAR profile.
Contact Information:
Postal Drawer 929
Vegerville, Alberta, T9C 1S1