An anonymous director reports

TUCKAMORE ANNOUNCES CLOSING OF PRIVATE PLACEMENT WITH ORANGE CAPITAL

Tuckamore Capital Management Inc.'s previously disclosed private placement with Orange Capital Master I Ltd. closed today. Tuckamore has issued 16,666,667 shares (or approximately 17 per cent of the shares of Tuckamore following completion of the transaction) to Orange Capital at a price of 80 cents per share, for total gross proceeds of $13.3-million. Tuckamore previously disclosed that the price per share paid by Orange Capital was to be no less than 75 cents.

As previously disclosed, the company has obtained approval from the lenders under its senior secured credit facilities to extend the maturity date thereunder from March 9, 2015, to Dec. 31, 2015, which extension will be effective upon the prepayment of outstanding indebtedness thereunder using the net proceeds of the private placement by an amount equal to such net proceeds. The extension is an important step for the company in strengthening its capital structure.

Tuckamore is pleased to welcome Orange Capital as a capital partner given its long and proven record of investing in the North American energy sector, with a particular focus on mid-stream infrastructure and service providers.

The Toronto Stock Exchange confirmed today that, contrary to Access Holdings Management Company LLC's requests, multiple complaint letters and appeals, it would not amend or vary the conditional approval previously given for the private placement. In addition, at a hearing held today, the Ontario Securities Commission dismissed an application filed by Access requesting that the OSC make a temporary cease trade order in respect of the issuance of shares under the private placement. Tuckamore's counsel has undertaken to the OSC that the company will effect an unwind of the private placement in the circumstance where Access actually appeals TSX's approval and subsequent confirmation of the private placement, and is successful on such appeal.

Tuckamore has received significant support from shareholders, including significant shareholders who did not support the recently terminated plan of arrangement, for the private placement. Tuckamore is grateful for this support and calls on Access to terminate its costly and distracting campaign. The board and management of Tuckamore look forward to focusing their attention on continuing to expand Tuckamore's businesses and delivering value for shareholders.

Governance review update

Further to the company's press release dated July 25, 2014, Tom Long Consulting Inc. has been meeting with stakeholders and potential board candidates. Stakeholders wishing to participate in the process are encouraged to contact Tuckamore or Mr. Long directly. The company is pleased to announce that the governance process is progressing well and on schedule.

We seek Safe Harbor.