Mr. Dustin Haw reports

TERRAVEST ANNOUNCES THE ACQUISITION OF SIMPLEX INC.

TerraVest Industries Inc. has acquired Simplex Inc. -- a leading technology company that designs and manufactures electrical test systems (load banks) and fuel supply systems for the standby power generation industry. The market for these products has been driven by demand for emergency backup power generators at data centres, hospitals and other public utilities. Simplex was acquired for an enterprise value of approximately $28.0-million (U.S.), including the assumption of certain liabilities and subject to customary closing adjustments. Headquartered in Springfield, Ill., Simplex products are installed in some of the most demanding, mission-critical environments.

"Simplex was founded in 1934 by Michael Debrey. The business has been in our family since that time. Our family is most pleased to find a company like TerraVest to continue the business and grow the legacy of Simplex for many years to come," said Tom Debrey, owner of Simplex.

John Jacob, president of Highland Tank, welcomes the employees and management of Simplex and looks forward to their continuing commitment to the company and dedication to their customers: "I am excited to welcome the Simplex team into the TerraVest family. Simplex is a well-recognized manufacturer with a leading reputation for product innovation, and we see this as a strategic fit. Simplex products are highly complementary with both Highland Tank and the broader portfolio of TerraVest businesses, and we expect to see immediate benefits," said Mr. Jacob.

We seek Safe Harbor.