TERRAVEST ANNOUNCES AUTOMATIC PURCHASE PLAN FOR COMMON SHARES

VEGREVILLE, AB, July 18, 2022 /CNW/ - TerraVest Industries Inc. ("TerraVest" or the "Corporation") (TSX: TVK) announced today that, in connection with its previously announced normal course issuer bid (the "Share Bid") for up to 947,259 of its issued and outstanding common shares ("Shares") on the Toronto Stock Exchange ("TSX"), TerraVest has entered into an automatic share purchase plan with its designated broker to allow for purchases of Shares (the "Share Purchase Plan").

The Share Purchase Plan will commence on July 20, 2022 and end on, or before, March 16, 2023. Purchases under the Share Purchase Plan will be determined by TerraVest's broker in its sole discretion, without consultation with TerraVest, subject to the limitation of the Share Purchase Plan and the rules of the TSX. The Share Purchase Plan is considered an "automatic plan" for purposes of applicable Canadian securities laws and has been reviewed by the TSX.

The Share Purchase Plan was established to provide standard instructions regarding how the Shares are to be purchased under the Share Bid. Accordingly, TerraVest may purchase Shares in accordance with the Share Purchase Plan on any trading day during the Share Bid, including during self-imposed trading blackout periods. TerraVest may otherwise vary, suspend or terminate the Share Purchase Plan only if it does not have material non-public information, the decision to vary, suspend or terminate the Share Purchase Plan is not taken during a self-imposed trading blackout period and any variation, suspension or termination is made in accordance with the terms of the Share Purchase Plan.

SOURCE TerraVest Industries Inc.

Dustin Haw, Chief Executive Officer, TerraVest Industries Inc., [phone], [email protected]