TerraVest Capital Inc.

TerraVest Capital Inc.

December 16, 2014 08:32 ET

TerraVest Announces Normal Course Issuer Bid for Its Common Shares and Automatic Securities Purchase Plan

VEGREVILLE, ALBERTA--(Marketwired - Dec. 16, 2014) - TerraVest Capital Inc. ("TerraVest" or the "Corporation") (TSX:TVK) announced today that it has received the approval of the Toronto Stock Exchange (the "TSX") to make a normal course issuer bid (the "Bid") for up to 905,424 of its issued and outstanding common shares (the "Shares") on the TSX.

The Corporation has also entered into an "automatic securities purchase plan" (as defined under applicable Canadian securities laws) with National Bank Financial Inc. for the purpose of making purchases under the Bid (the "Plan"). Purchases under the Bid will be determined by National Bank Financial Inc. in its sole discretion, without consultation with the Corporation, subject to the limitations of the Plan and the rules of the TSX. The Plan constitutes an "automatic plan" for purposes of applicable Canadian securities laws and has been reviewed and approved by the TSX. The Plan was established to provide standard instructions regarding how TerraVest's Shares are to be purchased under the Bid. Accordingly, TerraVest may purchase its Shares in accordance with the Plan on any trading day during the issuer bid including during self-imposed trading blackout periods.

Purchases under the Bid may commence on December 18, 2014 and will terminate on December 17, 2015, or on such earlier date as the Bid is complete. Purchases of Shares will be made through the facilities of the TSX in accordance with its rules. The average daily trading volume of the Shares for the previous six calendar months ("ADTV") was 18,394 Shares. Subject to the TSX's block purchase exception, on any trading day, purchases under the Bid will not exceed 25% of the ADTV. The price that the Corporation will pay for any Shares purchased under the Bid will be the prevailing market price at the time of purchase, provided that the Corporation will only purchase Shares when the prevailing market price is no more than $5.90 per Share. Any Shares purchased by the Corporation will be cancelled.

As of December 16, 2014, there were 18,108,495 Shares issued and outstanding. The 905,424 Shares that may be repurchased under the Bid represent approximately 5.0% of the issued and outstanding Shares on December 16, 2014.

Pursuant to the Corporation's normal course issuer bid which commenced on November 26, 2013 and expired on November 25, 2014, TerraVest purchased 8,300 Common Shares at a weighted average price of $4.67 per Common Share.

The Board of Directors of the Corporation has authorized the Bid because it believes that it is an efficient use of the Corporation's financial resources to purchase Shares when the market price of the Shares does not fully reflect their underlying value.

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