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TerraVest Announces Normal Course Issuer Bid For Its Common Shares And Automatic Securities Purchase Plan

TSX: TVK

VEGREVILLE, AB, Nov. 22, 2012 /CNW/ - 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 626,470 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 November 26, 2012 and will terminate on November 25, 2013, 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 11,032 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 and any Shares purchased by the Corporation will be cancelled.

As of November 22, 2012, there were 12,529,403 Shares issued and outstanding. The 626,470 Shares that may be repurchased under the Bid represent approximately 5.0% of the issued and outstanding Shares on November 22, 2012.

On August 23, 2012, pursuant to a substantial issuer bid dated July 16, 2012, TerraVest Income Fund, the predecessor to the Corporation, purchased 7,191,063 of its units for cancellation at a purchase price of $2.75 per unit.

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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