VEGREVILLE, ALBERTA (December 14, 2015)- TerraVest Capital Inc. (“TerraVest” or the “Corporation”) (TSX: TVK)
announced today that it has received the approval of the Toronto Stock Exchange (the “TSX”) to renew its normal
course issuer bid (the “Bid”) for up to 913,619 of its issued and outstanding common shares (the “Shares”) on the

Purchases under the Bid may commence on December 18, 2015 and will terminate on December 17, 2016, or on
such earlier date as the Bid is complete. Purchases of Shares will be made through the facilities of the TSX in
accordance with its rules, and alternative Canadian trading platforms. The average daily trading volume of the
Shares for the previous six calendar months (“ADTV“) was 6,045 Shares. Subject to the TSX’s block purchase
exception, on any trading day, purchases under the Bid will not exceed 1,511 Shares (25% of the ADTV). The price
that the Corporation will pay for any Shares purchased under the Bid will be the prevailing market price at the time
of purchase. Any Shares purchased by the Corporation will be cancelled.

As of December 14, 2015, there were 18,272,395 Shares issued and outstanding. The 913,619 Shares that may be
repurchased under the Bid represent approximately 5.0% of the issued and outstanding Shares on December 14,

Pursuant to the Corporation’s normal course issuer bid which commenced on December 18, 2014 and expires on
December 17, 2015, TerraVest purchased 86,100 Common Shares at a weighted average price of $5.95 per
Common Share.

The Board of Directors of the Corporation has authorized the Bid because it believes that it is an efficient use of
the Corporation’s financial resources to purchase Shares when the market price of the Shares does not fully reflect
their underlying value.


Mitchell Gilbert, Chief Investment Officer
TerraVest Capital Inc.
(416) 364 -0064


Paul A. Casey, Chief Financial Officer
TerraVest Capital Inc.
(780) 632-2040