TerraVest

Canaccord Genuity Acts as Co- Bookrunner to TerraVest on its C$97 Million Bought Deal Offering of Common Shares

Canaccord Genuity is pleased to announce that on May 15, 2024, its client TerraVest Industries Inc. (“TerraVest” or the “Company”) (TSX:TVK) has closed its previously announced upsized bought deal treasury offering (the “Offering”) and concurrent closing of the exercise in full of the over-allotment option. Pursuant to the Offering, the Company issued an aggregate 1,300,000 common shares (the “Shares”) at a price of $74.25 per Share (the “Offer Price”) for gross proceeds of $96,525,000. The gross proceeds include 166,000 Shares issued at the same Offer Price for gross proceeds of $12,325,500 on the exercise in full of the over-allotment option.

TerraVest is a diversified industrial company that manufactures and sells goods and services to a variety of end-markets. The Company is a market-leading manufacturer of home heating products, propane, anhydrous ammonia (“NH3”) and natural gas liquids (“NGL”) transport vehicles and storage vessels, energy processing equipment and fiberglass storage tanks. TerraVest is focused on acquiring and operating market-leading businesses that will benefit from TerraVest’s financial and operational support.

The net proceeds from the Offering will be initially allocated towards repaying existing debt and supporting general corporate activities, until required for future acquisitions or growth opportunities.