Tervita Corporation and certain of its affiliates announced that the company's previously announced recapitalization transaction described in the company's management information circular dated October 28, 2016 (as amended from time to time), was completed effective December 14, 2016, upon implementation of a court-approved plan of arrangement under the Canada Business Corporations Act. The recapitalization transaction resulted in a reduction of Tervita's total debt from approximately CAD 2.6 billion to approximately CAD 475 million. In addition, Tervita announced that to date, the following persons have accepted positions on Tervita's board of directors: Grant Billing, Allen Hagerman, Cameron Kramer, Joseph Quarin, Chris Synek and Jay Thornton. Mr. Billing was Chairman of the Board of Superior Plus Corp. until December 31, 2014. Allen Hagerman served as the Executive Vice President of Canadian Oil Sands Limited from 2007 to 2013. Cameron Kramer served as the COO and Senior Vice President of Arc Resources Ltd. between January and December, 2013. Mr. Quarin currently serves as Managing Director of Fortress Canada Investment Corp. and CFO at Northcastle Trust. Chris Synek is currently the President and CEO of Tervita. Prior to joining Tervita, Mr. Synek served in a number of senior roles with Republic Service Inc., including Executive Vice President of Sales and Senior Vice President of Operations. Mr. Synek has more than 25 years of experience in senior operating and commercial roles. Jay Thornton is currently a partner of Novo Investment Group Ltd. Mr. Thornton is also currently on the Boards of Penn West Petroleum Ltd. and North American Energy Partners Inc. Mr. Thornton has over 27 years of oil and gas experience and spent the first part of his career in various management positions with Shell.