Mr. Dustin Haw reports

TERRAVEST PROVIDES CORPORATE UPDATE

TerraVest Industries Inc., in response to the uncertain economic impact of novel coronavirus (COVID-19), will adjust its executive and board compensation. Effective immediately, base compensation for executive management will be reduced by 20 per cent and the company's board of directors will eliminate board fees for a period of six months.

"We are responding to the ongoing COVID-19 pandemic by reducing head count, management compensation and implementing additional rationalization measures. We are thankful to remain operational during this period by being part of the essential services required for our communities and customers. TerraVest's liquidity remains strong and we are comfortable with our ability to navigate through this unprecedented period," commented Dustin Haw, chief executive officer.

At the present time, the board of directors will continue to maintain TerraVest's quarterly dividend.

Clarke Inc. completes dividend of TerraVest shares

In a separate corporate action, on March 26, 2020, Clarke completed the distribution to its shareholders of its previously announced dividend in kind of the 5,386,440 shares of TerraVest previously held by Clarke. As a result of this distribution, Clarke no longer holds any TerraVest shares.

We seek Safe Harbor.