SOURCE: STT Enviro Corp

STT Enviro Corp

May 16, 2016 17:00 ET

STT Enviro Corp. Announces Renewal of Normal Course Issuer Bid

TORONTO, ON--(Marketwired - May 16, 2016) - STT Enviro Corp. ("STT" or the "Company") (TSX VENTURE: STT) is pleased to announce that it has received TSX Venture Exchange ("TSXV") approval of its Notice of Intention to renew its normal course issuer bid (the "NCIB") through the facilities of the TSXV, permitting the Company to repurchase, for cancellation, up to 2,990,320 common shares in the capital of the Company ("Common Shares") representing approximately 10% of the Company's Public Float (as such term is defined in the TSXV Corporate Finance Manual). As of the date hereof, the Company has 45,952,525 common shares issued and outstanding.

The NCIB will commence on May 20, 2016, and run until the earlier of the date on which purchases under the NCIB have been completed or May 20, 2017. The Company is commencing the Bid because it believes that the current market price of its Shares may not fully reflect the underlying value of the Company's business and its future business prospects. Accordingly, STT Enviro Corp. believes that purchasing and returning its common shares to treasury at present pricing represents an opportunity to enhance value for its ongoing shareholders. The Company's cash position allows for the implementation of the bid without adversely affecting the Company's other opportunities.

The NCIB is to be made through the facilities of the TSXV, and in accordance with policy statements on normal course issuer bids. The price which STT Enviro Corp. will pay for any Common Share will be the market price at the time of acquisition plus brokerage fees, if any. In the past 12 months, the Company purchased 1,945,000 of its common shares at an average price per share of $0.242 under its prior normal course issuer bid. Purchases pursuant to the NCIB will be made by Raymond James Ltd. on behalf of the Company. A copy of the Form 5G -- Notice of Intention to make a Normal Course Issuer Bid filed by the Company with the TSXV can be obtained from the Company upon request without charge.

To the knowledge of the directors and officers of STT Enviro Corp., no director or officer, associate of a director or officer of the Company, no person acting jointly or in concert with the Company nor any person holding ten percent or more of the Common Shares has any present intention to sell Common Shares during the period of the NCIB.

About STT Enviro Corp.

STT Enviro Corp. (TSX VENTURE: STT) supplies cost-effective, incremental, environmental improvements to traditional industrial products. The Company's two operating groups, STT Enviro Corp Systems & Solutions and STT Enviro Corp Tanks & Industrial, work to reduce their customers' environmental footprint, cost efficiently.

STT Enviro Corp Systems & Solutions engineers and supplies chemical make-down systems to neutralize pollutants (usually acid water) created in the ore or oil recovery process; and aftermarket services including optimization of chemical use for our customers to lower costs and reduce their carbon footprint.

STT Enviro Corp Tanks & Industrial engineers and supplies bolted tanks with a smaller environmental footprint for both dry and liquid storage applications.

Environmental considerations are prerequisites in modern industrial expansion and STT Enviro Corp. is focused on being a leader and innovator on incremental environmental improvements. The Company's strategy is to grow organically and, longer term, to acquire companies at prices which are strategically and financially accretive.

For more information, please visit our website at www.sttenvirocorp.com.

Caution Regarding Forward-Looking Information and Non-IFRS Measures

Forward-Looking Information

This news release contains certain forward-looking statements. These statements relate to future events or future performance and reflect management's current expectations and assumptions regarding the growth, results of operations, performance, and business prospects and opportunities. Such forward-looking statements reflect management's current beliefs and expectations and are based on information currently available to management of the Company. In particular, statements regarding the future operating results and economic performance are forward-looking statements. Forward-looking statements involve significant risks and uncertainties. A number of factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements, including risks outlined under "Risk Factors" in our Annual Information Form, which is posted at www.sedar.com. In evaluating these statements, investors should specifically consider various factors, including such risks as Investment Risk; Business Valuations; Condition of Capital Markets; Dependence on Key Personnel; General Economic Factors; Interest Rate Risk; Competition; and Reliance on Key Suppliers. One or more of these "Risk Factors" could cause actual events or results to differ materially from any forward-looking statement. These factors should not be considered exhaustive. Although the forward-looking statements contained in this press release are based on what management of the Company considers to be reasonable assumptions based on information currently available to them, there can be no assurance that actual events or results will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. These forward-looking statements are made as of the date of this press release, and none of STT nor its directors assume any obligation to update or revise them to reflect new events or circumstances. Undue reliance should not be placed on forward-looking statements.

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

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