An anonymous director reports

GENTERRA CAPITAL INC. SHAREHOLDERS APPROVE PLAN OF ARRANGEMENT

The special resolution authorizing Genterra Capital Inc.'s proposed plan of arrangement was approved today at the special meeting of the holders of its common shares. The arrangement resolution was approved by 99.16 per cent of the Genterra shareholders present in person or represented by proxy at the meeting, and by 95.55 per cent of the minority shareholders consisting of the Genterra shareholders other than those Genterra shareholders who are, for the purposes of voting on the arrangement resolution, interested parties within the meaning of Multilateral Instrument 61-101 -- protection of minority securityholders in special transactions, or otherwise required to be excluded for the purposes of a vote on the arrangement resolution under the requirements of MI 61-101.

Under the arrangement, Genterra will distribute approximately 28 per cent of its wholly owned subsidiary Gencan Capital Inc. (formerly known as Genterra Energy Inc.) to the Genterra shareholders other than the interested Genterra shareholders. Under the terms of the arrangement, Genterra shareholders, other than the interested Genterra shareholders, will receive in respect of each Genterra share that they hold, the following consideration:

• Each Genterra shareholder who holds less than 500 Genterra shares will receive $2.25 in cash for each Genterra share held;
• Each Genterra shareholder who holds 500 Genterra shares or more will receive $1.96 in cash and two shares of Gencan Capital.

Completion of the arrangement remains subject to, among other things, satisfaction of all conditions precedent and the final approval of the Ontario Superior Court of Justice (commercial list). The hearing for the final court order to approve the arrangement is scheduled to take place on Sept. 2, 2015, at the courthouse, 330 University Ave., Toronto, Ont. Assuming that all approvals are obtained, and all conditions precedent are satisfied or waived, Genterra currently anticipates the closing of the arrangement to occur around mid-September, 2015.

Further details regarding the arrangement are set out in the management information circular of Genterra dated July 21, 2015, which is available under Genterra's issuer profile on SEDAR.

About Gencan Capital Inc. (formerly Genterra Energy)

Gencan Capital is currently a wholly owned subsidiary of Genterra and conducts Genterra's solar energy operations. Gencan Capital's primary asset is its significant interest in a renewable power solar rooftop photo-voltaic system. Since August, 2014, Gencan Capital has engaged in the business of solar energy generation and installation of solar energy generation equipment under a feed in tariff contract with the Ontario Power Authority.

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