Mr. Vaughan Bassett reports

PINNACLE RENEWABLE HOLDINGS PROVIDES UPDATE ON B.C. FOREST FIRES AND ITS OPERATIONS

Pinnacle Renewable Holdings Inc. has provided an update on its operations in British Columbia amid the current high level of forest fire activity in the province. B.C. Wildfire Services estimates there are currently approximately 600 active wildfires in the province, versus approximately 150 at this time last year. The company reports that none of its facilities are currently under immediate threat of encroachment from wildfires; however, there are wildfires burning in the proximity of some of its production facilities.

With its long operating history in British Columbia, Pinnacle has extensive experience in managing its operations during seasonal forest fire periods and puts the safety of its employees first and foremost. The company is closely monitoring the current wildfires in the proximity of its facilities and will provide timely updates on any developments that could impact its operations. In the event of an evacuation or required temporary closure of a facility due to forest fire encroachment, Pinnacle is experienced in managing its network of facilities to ensure customer shipments.

"We are adept at managing our network of facilities to adjust for potential temporary operational disruptions. We had to close our Williams Lake production facility for 24 days last year during July and August due to a forest fire, and no customer shipments were missed. Our network of facilities was able to absorb this temporary closure and make up the production elsewhere," said Vaughan Bassett, senior vice-president, sales and logistics.

About Pinnacle Renewable Holdings Inc.

Pinnacle is a rapidly expanding industrial wood pellet manufacturer and distributor and the third-largest producer in the world. The company operates seven industrial wood pellet production facilities in Western Canada and a port terminal in Prince Rupert, B.C., and currently has a new production facility under construction in Smithers, B.C. Pinnacle has entered into long-term take-or-pay contracts with utilities in the United Kingdom, Europe and Asia that represent 109 per cent of its production capacity through 2021 and nearly 101 per cent of its production capacity through 2026.

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