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Divestco Announces Closing of Debt Financing

/EIN News/ -- CALGARY, Alberta, April 23, 2018 (GLOBE NEWSWIRE) -- Further to its press release issued on April 20, 2018, Divestco Inc. (“Divestco” or the “Company”) (TSX-V:DVT) is pleased to announce that it has closed a financing arrangement for $3.15 million (the “Loan”), the proceeds of which were used to repay the Company’s existing $3.0 million term loan with BC-OSB Holdings Ltd. The Loan has a 30-month term and bears interest at a rate of 15% per annum compounded monthly in arrears until maturity.  

Further details in respect of the Loan will be provided in Divestco's financial statements, its material change report in respect of the Loan and a copy of the full text of the agreement setting out the particular terms of the Loan will be filed under Divestco's profile on SEDAR at www.sedar.com.

About the Company

Divestco is an exploration services company that provides a comprehensive and integrated portfolio of data, software, and services to the oil and gas industry. Through continued commitment to align and bundle products and services to generate value for customers, Divestco is creating an unparalleled set of integrated solutions and unique benefits for the marketplace. Divestco's breadth of data, software and services offers customers the ability to access and analyze the information required to make business decisions and to optimize their success in the upstream oil and gas industry. Divestco is headquartered in Calgary and trades on the TSX Venture Exchange under the symbol "DVT". Additional information on Divestco is available on its website at www.divestco.com and on SEDAR at www.sedar.com.

For more information please contact:

Divestco Inc. (www.divestco.com)

Mr. Stephen Popadynetz      Mr. Danny Chiarastella
CEO and President  Chief Financial Officer
Tel 587-952-8152  Tel 587-952-8027
spopadynetz@divestco.com  dchiarastella@divestco.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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