BASE SHELF PROSPECTUS ACCESSIBLE AND PROSPECTUS SUPPLEMENT TO BE ACCESSIBLE WITHIN TWO BUSINESS DAYS ON SEDAR+ NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. TORONTO, May 08, 2024 (GLOBE NEWSWIRE) -- TerraVest Industries Inc. (TSX:TVK) ("TerraVest" or the "Company") is pleased to announce it has entered into an agreement to sell, on a bought deal basis, 870,000 common shares (the "Shares") from treasury to a syndicate of underwriters (the "Underwriters") with National Bank Financial Inc., Canaccord Genuity Corporation, and Desjardins Securities Inc. acting as Co-Bookrunners. The Shares will be offered at a price of $74.25 per Share (the "Offering Price"), for gross proceeds to the Company of approximately $64,597,500 (the "Offering"). As the Company continues to pursue acquisition opportunities, it wishes to maintain flexibility to take advantage of these opportunities should the situation warrant. 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. The Company has also granted the Underwriters an option to purchase up to an additional 130,500 Shares, representing 15% of the size of the Offering (the "Over-Allotment Option"), on the same terms and conditions, exercisable in whole or in part, up to 30 days after the closing of the Offering. If the Over-Allotment Option is exercised in full, the Company will receive additional gross proceeds of $9,689,625, for aggregate gross proceeds from the Offering of $74,287,125. "The successful completion of the Offering will further strengthen our balance sheet and position us favourably to continue investing in and improving our current portfolio, while also pursuing our long-term strategy for acquisitions," said Dustin Haw, CEO of TerraVest Industries Inc. The Shares will be offered in each of the provinces of Canada by way of a prospectus supplement (the "Prospectus Supplement") to the short form ...