Dexterra Announces Sale of Space Rental Assets

Toronto, Ontario--(Newsfile Corp. - July 2, 2024) - Dexterra Group Inc. (TSX: DXT) ("Dexterra" or the "Company") announces the closing of an asset sale of 329 space rental units ("Assets"), which were owned by the Gitxaala Horizon North Services Limited Partnership (owned 49% by Dexterra) and servicing a major project in Kitimat. The purchase price of $20.45 million reflects the approximate net book value of the Assets.

This transaction allows Dexterra the opportunity to proactively manage its assets in the Energy Services business and is consistent with the Company's strategic focus on Support Services as well as the contracts associated with the major project approaching their completion date.

The sale provides an opportunity to pay down debt and optimize the mix of assets within the Dexterra portfolio.

Our partnership with Gitxaala First Nation has been strong over many years and we are excited about our continued partnership with them in the region.

About Dexterra

Dexterra employs over 8,500 people, delivering a range of support services for the management and operation of infrastructure across Canada and the USA.

Powered by people, Dexterra brings best-in-class regional expertise to every challenge and delivers innovative solutions, giving clients confidence in their day-to-day operations. Activities include a comprehensive range of integrated facilities management services, industry leading workforce accommodation solutions and other support services for diverse clients in the public and private sectors.

For further information contact:

Denise Achonu, CFO
Head office: Airway Centre, 5915 Airport Rd., 4th Floor Mississauga, Ontario L4V 1T1
Telephone: (905) 270-1964

You can also visit our website at dexterra.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/215025