Mr. Pete Sametz reports

GEMINI CORPORATION REPORTS 2016 THIRD QUARTER RESULTS

Gemini Corp. has released the financial and operating results for the three and nine months ended Sept. 30, 2016.

The third quarter 2016 adjusted earnings before interest, taxes, depreciation and amortization were $3.6-million on revenue of $22.1-million, compared with a loss of $12.8-million on revenue of $46.1-million in the same quarter last year. Although revenue was down significantly compared with the same period last year, the company was able to execute its projects safely, on time and on budget for its clients. The majority of revenue during the quarter came from the completion of the large module programs performed at the Ponoka fabrication facility. Project delivery by construction and maintenance teams in the Heartland area has continued to deliver excellent client service and work quality. Its environmental solutions team has seen a slow but steady pickup in work volume and client activity this quarter compared with the second quarter of 2016.

"We are encouraged by the effort our team has put in this quarter to generate positive operating cash flows," said Pete Sametz, Gemini's president and chief executive officer. "However, we still continue to face marketplace challenges as we pursue additional backlog for 2017 with new and existing clients. It has been difficult to determine a successful market price in the current race-to-the-bottom pricing environment. Our focus remains on creating value for our clients by providing an integrated approach ensuring that safety and quality are not sacrificed in our delivery, and we will continue to pursue this with unwavering enthusiasm and passion."

During the quarter, the company generated operating cash flows of $4.7-million, which resulted in the repayment of $4.4-million on the bank operating line. The bank operating line at Sept. 30, 2016, was $2.4-million, down from $6.8-million at June 30, 2016.

Third quarter gross profit for 2016 was $6.3-million compared with a $9.3-million loss in the same period of 2015. The company expects revenue for the rest of 2016 to track well below the levels achieved in 2015 as a result of the completion of the major rail-loading terminal project last year and reduced activity in the oil and gas sector. It is anticipated that margins will remain compressed well into 2017 until there is a reduction in the service industry capacity or a sustained improvement in commodity prices.

Gemini reported a non-cash impairment of $3.2-million in the third quarter as a result of impairment in the environmental solutions segment and adjustments to the remaining useful lives of certain corporate assets.

                CONSOLIDATED FINANCIAL OVERVIEW 
                           ($000s)

                                Three months ended       Nine months ended 
                                     Sept. 30,                Sept. 30,      
                                  2016        2015        2016        2015

Revenue                        $22,129     $46,055     $82,192    $145,279
Gross profit (loss)              6,258      (9,295)     11,478      (6,276)
Net (loss)                      (1,229)     (8,976)     (4,548)    (13,420)
Net (loss) per share --
basic and diluted                (0.02)      (0.12)      (0.06)      (0.17)
Adjusted EBITDA (1)              3,573     (12,758)      1,953     (16,755)

(1) A non-international financial reporting standard measure.

Management's discussion and analysis and financial statements

The third quarter 2016 management's discussion and analysis, and the condensed consolidated interim financial statements provide a detailed explanation of Gemini's operating results for the three and nine months ended Sept. 30, 2016. These documents are available on-line at the Gemini website and SEDAR immediately after the results are released under Gemini's profile at SEDAR.

About Gemini

Gemini, through its subsidiaries, operates as an integrated project solutions company focused on energy and industrial facilities. Gemini offers services on either a stand-alone basis or in a combination, integrated to provide its clients with a single point of accountability. The company will be celebrating its 35th anniversary in 2017.

Gemini's third quarter 2016 report will be filed on SEDAR by Nov. 22, 2016.

We seek Safe Harbor.