CALGARY, ALBERTA--(Marketwired - Oct. 26, 2016) - Tervita Corporation and certain of its affiliates ("Tervita" or the "Tervita Group") announced today that the date by which holders of the 9.75% senior unsecured notes issued by Tervita due November 2019 and the holders of the 10.875% senior unsecured notes issued by Tervita due February 2018 (collectively, the "Unsecured Notes", and the holders of such Unsecured Notes, the "Unsecured Noteholders") must execute a support agreement with Tervita in order to receive their pro rata share of the additional new common shares that in the aggregate will represent 0.5% of pro forma equity of Tervita (the "Early Consent Shares") has been extended from October 21, 2016 to November 4, 2016 (the "Early Consent Deadline").

Tervita announces that increased support from Unsecured Noteholders has been obtained such that Unsecured Noteholders holding approximately 94% of the Unsecured Notes have now executed support agreements and have committed to support the Tervita Group's previously announced recapitalization and plan of arrangement under the Canada Business Corporations Act ("CBCA"). Tervita has agreed to extend the Early Consent Deadline to provide additional Unsecured Noteholders with time to receive their pro rata share of the Early Consent Shares.

Accordingly, all Unsecured Noteholders that execute and deliver a joinder agreement to the unsecured noteholder support agreement, which can be found on the noteholder IntraLinks website, on or prior to November 4, 2016, shall be entitled to their pro rata share of the Early Consent Shares.

In addition, Tervita also announced that it was successful in receiving provisional relief in the Southern District of New York (the "U.S. Court") with respect to its complimentary U.S. proceeding, which it previously announced it was seeking on October 20, 2016. The U.S. Court has scheduled December 2, 2016 as the date for a hearing at which the U.S. Court will consider formal recognition of the Tervita Group's proceedings under the CBCA.

About Tervita

Tervita has operated in Canada for almost 40 years and is a leading environmental solutions provider. Our integrated earth, water, waste and resource solutions deliver safe and efficient results through all phases of a project by minimizing impact and maximizing returns™. Our dedicated employees are trusted sustainability partners to oil and gas, construction, mining, government and communities. Safety is our highest priority: it influences our actions and shapes our culture.

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Reader Advisory Regarding Forward-Looking Statements

This news release contains certain "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements"). Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or are events or conditions that "will", "would", "may", "could" or "should" occur or be achieved. This news release contains forward-looking statements, pertaining to, among other things, the following: the ability of the Company to reach an agreement with its lenders to restructure or recapitalize its long-term debt, the Company's liquidity and ability to meet payment obligations and the timing of meeting such payment obligations, the Company's intentions for the future of its business operations, prospects, long-term strategy and the Company's commitment to its employees, suppliers and customers. Statements regarding future growth, capital expenditures and development plans are subject to all of the risks and uncertainties that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These risks include, but are not limited to, general economic conditions, inflation or lack of availability of goods and services, environmental risks, customer risks, regulatory changes and certain other known and unknown risks.

Although Tervita believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance. Tervita's actual results may differ materially from those expressed or implied in forward-looking statements and readers should not place undue importance or reliance on the forward-looking statements. Statements including forward-looking statements are made as of the date they are given and, except as required by applicable laws, Tervita disclaims any intention or obligation to publically update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Contact Information:

Tervita Corporation
Ryan Wong
Vice President, Treasury
(403) 231-1116