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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 Canadas leading utility meter solutions providers focusing on water and natural gas. The company
also services the emerging electricity smart metering market. Metercors clients include municipalities,
government bodies, gas co-ops, and private utilities. In the companys 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. Metercors 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 26
th
, 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.