04:40 PM EST, 12/03/2024 (MT Newswires) -- TerraVest Industries Inc. ( TRRVF ), (TVK.TO) after trade Tuesday announced that, through its partially owned subsidiary Green Energy Services Inc., it has entered into an asset purchase agreement with Aureus Energy Services Inc. to acquire their Canadian assets, located in Grande Prairie, Alberta and Fort St. John, British Columbia.

Tuesday's statement noted Aureus provides water management and hot oiling services to the Western Canadian energy industry. Aureus Energy Services Inc. has retained its U.S. business and will continue to provide water management and water recycling services in the Permian and Delaware regions in Texas and New Mexico.

Aureus will be acquired using existing cash and credit facilities, but not financial details were given. The transaction is expected to close on or about January 1, 2025.

TVK closed up $1.08 or 0.9% at $116.08.