Societe Alexco, S.E.N.C. Files Early Warning Report Regarding Shareholdings in Terravest Capital Inc.

VICTORIAVILLE, QUEBEC--(Marketwired - May 24, 2016) - On May 20, 2016, Société Alexco, S.E.N.C. ("Alexco"), a company controlled by Mr. Charles Pellerin, acquired 750,000 common shares (the "Shares") in the capital of TerraVest Capital Inc. ("TerraVest") through the facilities of the Toronto Stock Exchange (the "Transaction"). The Shares were acquired at a price of $6.00 per Share, for aggregate consideration of $4,500,000.

Prior to closing of the Transaction, Alexco held 449,500 common shares in the capital of TerraVest, representing approximately 2.46% of the issued and outstanding common shares of TerraVest. On closing of the Transaction Alexco held 1,199,500 common shares in the capital of TerraVest, representing approximately 6.58% of the issued and outstanding common shares of TerraVest. Alexco, together 9202-2599 Quebec Inc., an entity which is also controlled by Mr. Pellerin and with which Alexco is deemed to be acting jointly or in concert for the purposes of Multilateral Instrument 62-104 – Take-Over Bids and Issuer Bids, owns and controls, in the aggregate, 3,099,500 common shares of TerraVest, representing approximately 17.00% of the issued and outstanding common shares of TerraVest.

Alexco acquired 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 or by contacting Charles Pellerin at (819) 758-3161 or cpellerin@ppgca.com.