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TerraVest Income Fund announces results of substantial issuer bid for its units

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TSX: TI.UN

VEGREVILLE, AB, Aug. 21, 2012 /CNW/ - TerraVest Income Fund (the "Fund", TSX: TI.UN) announced the final results of its substantial issuer bid dated July 16, 2012 (the "Offer"), to purchase for cancellation up to 5,000,000 of the issued and outstanding units ("Units") of the Fund (or such greater number of Units that the Fund determines it is willing to take up and pay for) from holders of Units at the purchase price of $2.75 per Unit. The Offer expired at 5:00 p.m. (Toronto Time) on Monday, August 20, 2012.

Based on the final report provided by the depositary for the Offer, a total of 7,191,063 Units have been deposited as at the expiration of the Offer. The Fund intends to take up all of the Units deposited pursuant to the Offer in accordance with applicable securities laws and as set forth in the Offer documents. Aggregate consideration for the Units tendered pursuant to the Offer will be $19,775,423.

Payment for the Units tendered and accepted for purchase will be made as soon as practicable in accordance with the Offer.

About TerraVest Income Fund

The Fund has investments in two portfolio businesses:

  • RJV Gas Field Services, one of Canada's largest providers of wellhead processing equipment for the natural gas industry in western Canada; and
  • Diamond Energy Services, a market leader in providing well servicing to the oil and natural gas sector in south‐western Saskatchewan.

SOURCE TerraVest Income Fund



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