GLV Inc. Announces Expiry of Go-Shop Period Related to the Sale of the Pulp & Paper Division and Subsequent Increase of Purchase Price to $67 Million by the Verreault Family

Montreal, Canada, November l0r20l4 - GLV Inc. ("GLV") (TSX: GLV.A & GLV.B) today announced that, in accordance with the terms of the share purchase agreement entered into on September 24, 2014 (the "Share Purchase Agreement") providing for the sale (the "Sale Transaction") of its Pulp & Paper Division (the "Division") to 9027173 Canada Inc. (fhe"9027173"), a corporation owned by Richard Verreault, the President and Chief Executive Officer of GLV and Laurent Verreault, the Executive Chairman of the Board of GLV (9027173 and Messrs. Verreault collectively referred to as the "Verreault Family"), the 45-day go-shop period (the "Go-shop Period") during which GLV was permitted to solicit proposals for the Division which are superior to the proposal made by the Verreault Family, expired on November 7,2014 at ll,59 p.m. (Montreal time). During the Go-shop Period which was initiated by GLV, National tsank Financial Inc., GLV's f,rnancial advisor, contacted 25 third parties of which nine third parties entered into a confidentiality and standstill agreement with GLV, and received confidential information. The go-shop process did not result in a superior proposal for the Division. Following the go-shop process, the Verreault Family accepted, at the request of the independent committee of the board of directors of GLV, to increase the purchase price payable under the proposed Sale Transaction from $65 million to $67 million and executed on November 9th an amendment to the Share Purchase Agreement. As a result, upon closing, GLV will receive $62 million in cash, transfer a debt of $2 million to the Verreault Family and receive a balance of sale of $3 million payable over the next 42 months. All other terms and conditions remain substantially similar to those set out in the Share Purchase Agreement as described in the management information circular mailed to GLV shareholders on October 2I, 2014 and available on www.sedar.com. GLV does not intend to deliver a supplemental management information circular to shareholders in respect of the amendment to the Share Purchase Agreement. "Following discussions with institutional arm's length investors, we are confident that the Sale Transaction will be supported by shareholders and will receive the required level of approval", said Marc Courtois, Chairman of the independent committee of the Board. The special meeting of shareholders of GLV (the "Special Meeting") to consider the proposed Sale Transaction and the change of name of the company from GLV Inc. to Ovivo Inc., will be held at the Hotel Omni Mont-Royal, La Galerie, 1050 Sherbrooke St. West, Montreal, Québec H3A 2R6 on November 14,2014 at 10:30 a.m. Montreal time. The record date for voting at the Meeting is October 14,2014.

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