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Equicapita Income Trust Acquires Metercor

FOR IMMEDIATE RELEASE, ATTENTION INVESTMENT EDITORS – May 26th, 2014 - Calgary

Equicapita Income Trust (“Equicapita”, the “Fund”) is pleased to announce the acquisition of 100% of the shares of Metercor Inc. (“Metercor”) by an affiliate of the Fund. Metercor was founded in 1997 and is one of Canada’s leading utility meter solutions providers focusing on water and natural gas. The company also services the emerging electricity smart metering market. Metercor’s clients include municipalities, government bodies, gas co-ops, and private utilities. In the company’s 17 years of operation it has built a strong, diverse and loyal customer base by establishing its reputation as a market leader by delivering reliable results and specializing in all aspects of meter services. Metercor provides turnkey solutions for automated meter reading devices and handheld, mobile, or fixed network reading equipment; to retrofit on existing meter, or install/exchange with new water meters.

"Metercor is a unique company which combines a stable underlying business with long term contracts in basic utility meter installation, replacement and maintenance with a strong presence in the rapidly growing smart meter segment. We are highly impressed with the Metercor team and what they have achieved over the last 17 years. Metercor’s founders have embraced the Equicapita model by taking a portion of their purchase consideration as Preferred Trust Units in the fund and we are delighted to have them as partners. In addition, we are pleased that key senior management will remain in place after the sale with whom we look forward to a long working relationship.”

The Metercor transaction closed on May 26th, 2014 - Equicapita retained Ernst & Young and Burstall Winger Zammit as advisors. Ernst & Young provided accounting and financial due diligence support and Burstall provided legal due diligence and structuring support.

Equicapita is a private equity buyout fund based in Calgary, Alberta. The fund is focused on acquiring private, western Canadian businesses with enterprise values ranging from $5 million to $20 million. The fund is an RRSP eligible investment vehicle that streams the cash flow from private operating companies to its investors on a priority basis.

This news release may contain certain information that is forward looking and, by its nature, such forward-looking information is subject to important risks and uncertainties. The words "anticipate," "expect," "may," "should" "estimate," "project," "outlook," "forecast" or other similar words are used to identify such forward looking information. Those forward-looking statements herein made by Equicapita, if any, reflect Equicapita's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those anticipated or predicted in these forward-looking statements, and the differences may be material. Factors which could cause actual results or events to differ materially from current expectations include, among other things: risks associated with the ownership and operation of businesses, including fluctuations in interest rates; general economic conditions; supply and demand for businesses; competition for available businesses; changes in legislation and the regulatory environment; and international trade and global political conditions. Readers are cautioned not to place undue reliance on any forward-looking information contained in this news release (if any), which is given as of the date it is expressed herein. Equicapita undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise.