VEGREVILLE, AB, June 19, 2014 /CNW/ - TerraVest Capital Inc. ("TerraVest" or the "Company") (TSX: TVK) a manufacturer of fuel containment and pressure vessels as well as an oil field service provider is pleased to announce that the Board of Directors of TerraVest has appointed Dustin Haw to the Board. In conjunction with this announcement, George Armoyan, current Chairman of TerraVest, has resigned in order to make room for this new appointment. Charles Pellerin, existing Board member and Executive Chairman of Gestion Jerico, has assumed the role of Executive Chairman of the Board of TerraVest.
Dr. Haw is a Vice President of Investments at Clarke Inc., a publicly listed company on the Toronto Stock Exchange. Prior to joining Clarke Inc., Dr. Haw was a research associate at the University of Western Ontario where he obtained his PhD in physics.
"I have spent a significant amount of time helping to streamline TerraVest's operations so that the Company is now poised for growth. I, along with the other Board Members, feel that Charles Pellerin is most suited for this role. I am quite confident that he, and Dr. Haw, will make a material contribution to increasing shareholder value," said Mr. Armoyan.
Mr. Pellerin stated, "As the third largest shareholder of TerraVest Capital and a meaningful participant in the most recent equity offering by the Company, I intend on continuing the trajectory initiated by Mr. Armoyan and driving growth organically and through acquisitions at TerraVest so that all shareholders have the opportunity to achieve strong returns on their investment".
The Company thanks Mr. Armoyan for his leadership contribution as Chairman of the Board and welcomes Mr. Pellerin in his new role and Dr. Haw as a director.
SOURCE: TerraVest Capital Inc.
For further information: Mitch Gilbert, TerraVest Capital Inc., Chief Investment Officer, (416) 364-0064, [email protected] OR Paul A. Casey, CA, TerraVest Capital Inc., Chief Financial Officer, (780) 632-2040, [email protected]