Tree Island Steel Ltd.

Tree Island Steel Ltd.

November 14, 2013 15:00 ET

Tree Island Steel Ltd. Announces Further Acquisition of Shares by The Futura Corporation

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 14, 2013) - Tree Island Steel Ltd. (the "Company" or "Tree Island Steel") (TSX:TSL) announces that on November 13, 2013, The Futura Corporation ("Futura") acquired 2,300,000 common shares of Tree Island Steel.

Based on Tree Island Steel's latest quarterly reporting, Futura now owns 29.15% of the issued and outstanding common shares of the Company. Futura acquired these common shares for investment purposes. Futura also owns $5,000,000 convertible debentures and 1,875,000 Warrants in Tree Island Steel. Futura may from time to time acquire additional securities of Tree Island Steel, dispose of some or all of the existing or additional securities, or continue to hold securities of Tree Island Steel in the normal course of its investment activities.

Futura relied on Section 4.2 of Multilateral Instrument 62-104 Take-Over Bids and Issuer Bids in purchasing these common shares.

About Tree Island Steel

Headquartered in Richmond, British Columbia, since 1964, Tree Island Steel, through its four operating facilities in Canada and the United States, produces wire products for a diverse range of industrial, residential construction, commercial construction, agricultural, and specialty applications. Its products include galvanized and bright wire; a broad array of fasteners, including packaged, collated and bulk nails; stucco reinforcing products; concrete reinforcing mesh; fencing and other fabricated wire products. The Company markets these products under the Tree Island, Halsteel, K-Lath, Industrial Alloys, TI Wire, and Tough Strand and Select Brand names. Tree Island Steel also owns and operates a China- based company that assists the international sourcing of products.

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