Montrusco Bolton Investments Inc. Does Not Support The Offer Made by Clean Harbors, Inc. For Badger Daylighting Ltd.

MONTREAL, April 18 /CNW Telbec/ - Montrusco Bolton Investments Inc. ("MBII") confirms that it does not support the offer by Clean Harbors, Inc. ("CLH") for all of the issued and outstanding shares of Badger Daylighting Ltd. ("Badger"), of which the funds MBII manages now hold in aggregate over 1 million shares, representing approximately 9.8% of Badger, because we believe that:

  1. the current offer made by CLH is not in the best interests of Badger's shareholders,
  2. CLH could likely improve its offer, and
  3. the status quo is better than the proposed offer.

Behrak Shahriari, Investment Officer of MBII, said "We are one of the largest holders of Badger, and we prefer to own Badger in its current form, rather than to accept the offer made by CLH. As an alternative, CLH may revise its offer to fully value Badger and pay for the acquisition with cash or securities that investors could sell for full fair value."

SOURCE MONTRUSCO BOLTON INVESTMENTS

For further information:

Montrusco Bolton Investments Inc.
Behrak Shahriari
Investment Officer
(514) 282-5454
shahriarib@montruscobolton.com

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