GLV to Become Pure Water Treatment Company with the Sale of its Pulp and Paper Division and will Rename Itself Ovivo

Key Transaction Highlights  Sale of the Pulp and Paper Division for $65 million to the Verreault Family  Resulting in a pure water treatment company  Significantly strengthens balance sheet with low net debt  Paves the way for accelerated organic and acquisition growth  GLV Inc. to change its name to Ovivo Inc. following closing of the transaction  Marc Barbeau to be appointed President and Chief Executive Officer  GLV’s Board of Directors recommending that disinterested shareholders vote in favour of transaction Montréal, Canada, September 24, 2014 (All amounts in Canadian dollars) GLV Inc. (“GLV” or the “Corporation”) today announced that it has executed a definitive agreement for the sale of its Pulp & Paper Division (the “Division”) for $65 million on a debt-free basis to 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 (the “Purchaser”). This transaction will allow GLV to become a pure provider of water treatment products and solutions in a rapidly growing industry with attractive long-term fundamentals. In addition, the transaction will significantly strengthen GLV’s balance sheet and position it for accelerated organic and acquisition growth. Upon closing, GLV will receive $60 million in cash, transfer a debt of $2 million to the Purchaser and receive a balance of sale of $3 million payable over the next 42 months. The transaction price will be subject to usual post-closing adjustments related to working capital. GLV expects limited tax leakage from the transaction. Transaction value represents approximately 6.1x the Division’s last five year average EBITDA, adjusted for its share of head office expenses.

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