TerraVest approved to make issuer bid for C$1.8 million convertibles

By Wendy Van Sickle

Columbus, Ohio, June 28 – TerraVest Capital Inc. said it received approval from the Toronto Stock Exchange to renew its normal course issuer bid for up to C$1,802,900 principal amount of its outstanding 7% convertible subordinated debentures due June 30, 2020.

Purchases under the bid may begin on July 4 and will end on July 3, 2018 or on an earlier date if the bid is complete before then.

Purchases will be made through the stock exchange’s facilities and may also be made through alternative Canadian trading platforms.

The average daily trading volume of the debentures for the previous six months was C$24,935 aggregate principal amount. On any trading day, purchases will not exceed C$6,233, or 25% of the average daily trading volume.

TerraVest will pay the prevailing market price at the time of purchase.

Under the company’s normal course issuer bid that began on May 30, 2016, TerraVest purchased C$454,000 of its debentures at a weighted average price of C$105.32 each.

As of June 28, the company had C$22,304,000 of the debentures outstanding.

TerraVest is a Vegrevilla, Alta., oil and gas investment company focused on fuel containment vessels and processing equipment.

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