TORONTO, Nov. 8, 2021 /CNW/ - TerraVest Industries
Inc., (TSX: TVK) ("TerraVest" or the "Company") announces today
that it has acquired an additional 6,202,740 shares in Green Energy
Services ("GES"). With this acquisition Terravest now owns 66.8% of
the outstanding shares of GES.
"Green Energy is a great business with a great management team.
We have watched the company grow as a minority shareholder and are
very excited for this opportunity to partner with the management
team and take a bigger role in its success," commented Dustin Haw, President and Chief Executive
Officer.
GES, operating under the name Fraction Energy Services, is an
industry leader in water management and environmental solutions.
The Doig River First Nation "DRFN" is an equitable partner in GES.
Ken Wagner, President and CEO
commented "We are extremely excited to have Terravest as our
largest partner. They will further advance our ability to be a
leader in the water management space and help us achieve our ESG
Goals with their best-in-class manufacturing and engineering
groups."
TerraVest acquired the shares of GES using its existing credit
facilities and the issuance of TerraVest shares.
Caution Regarding Forward-Looking Statements
This news release contains forward-looking statements.
All statements other than statements of historical fact contained
in this news release are forward-looking statements, including,
without limitation, statements regarding our strategic direction
and evaluation of the business segments and TerraVest as a whole,
and other plans and objectives of or involving TerraVest. Readers
can identify many of these statements by looking for words such as
"expects" and "will" or similar terms or variations of these words.
Although management believes that the expectations represented in
such forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct.
By their nature, forward-looking statements require us to
make assumptions and, accordingly, forward looking statements are
subject to inherent risks and uncertainties. There is significant
risk that the forward-looking statements will not prove to be
accurate. We caution readers of this news release not to place
undue reliance on our forward-looking statements because a number
of factors may cause actual future circumstances, results,
conditions, actions or events to differ materially from the plans,
expectations, estimates or intentions expressed in the
forward-looking statements and the assumptions underlying the
forward-looking statements.
Assumptions and analysis about the performance of TerraVest
as a whole and its business segments, the markets in which the
business segments compete and the prospects and values of the
business segments are considered in setting the business plan for
TerraVest, plans and/or ability to pay dividends, outlook for
operations, financial position, results and cash flows, other plans
and objectives and in making related forward-looking statements.
Such assumptions include, without limitation, demand for
products and services of the business segments in respect of the
Canadian and other markets in which the businesses are active will
be stable, and that input costs to business segments do not vary
significantly from levels experienced
historically. Should any of these factors or
assumptions vary, actual results may differ materially from the
forward-looking statements.
SOURCE TerraVest Industries Inc.