VEGREVILLE, AB, Feb. 23, 2012 /CNW/ - The Board of Trustees (the "Board") of TerraVest Income Fund ("Terravest") (TSX: TI.UN) today announced that John Maynard, President and CEO of Terravest, will be leaving the Fund effective today. Dale Laniuk has been appointed as President and CEO of the Fund. Mr. Laniuk served as President and Chief Executive Officer of the Fund prior to Mr. Maynard and has been a trustee of the Fund since its inception.
On behalf of the Board, Dale Laniuk commented: "I would like to thank John for his excellent service with Terravest over the last few years. He showed great leadership and dedication to Terravest during his tenure. I wish him all the best in the future."
The Fund has investments in two portfolio businesses:
- RJV Gas Field Services ("RJV"), one of Canada's largest providers of wellhead processing equipment for the natural gas industry in western Canada; and
- Diamond Energy Services ("Diamond"), a market leader in providing well servicing to the oil and natural gas sector in south-western Saskatchewan.
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President and Chief Executive Officer