VANCOUVER, British Columbia, Dec. 22, 2025 (GLOBE NEWSWIRE) -- Tree Island Steel Ltd. (the "Company" or "Tree Island Steel") (TSX: TSL) today announced the addition of Guy Elliott as an independent director joining the Company's board of directors (the "Board") effective January 1, 2026. Mr. Elliott will also serve as a member of the Company’s audit committee. Mr. Elliott was an audit partner in the Energy and Natural Resources (ENR) group of the Vancouver office of KPMG for over 25 years until his retireme ...

Core Viewpoint - Tree Island Steel Ltd. has received approval from the Toronto Stock Exchange to renew its normal course issuer bid to repurchase up to 1,290,000 common shares, which is approximately 5% of its issued and outstanding shares, with the bid period running from November 12, 2025, to November 11, 2026 [1] Group 1: Share Repurchase Details - The company plans to purchase shares through the TSX or any Canadian alternative trading system, with all repurchased shares to be cancelled [1] - As of October 31, 2025, Tree Island Steel had 25,909,295 common shares issued and outstanding, with a public float of 9,307,399 shares [2] - The maximum number of shares that can be purchased on any trading day is 2,177, which is 25% of the average daily trading volume over the previous six months [2] Group 2: Previous Share Repurchase Program - In the previous normal course issuer bid (2024 NCIB), Tree Island Steel acquired 108,571 common shares at a weighted average price of $2.5623 per share, with the program allowing for the purchase of up to 1,300,000 shares [3] - The 2024 NCIB is set to expire on November 10, 2025 [3] Group 3: Strategic Rationale - The board of directors has decided to renew the normal course issuer bid, believing that repurchasing shares at the current market price is a beneficial use of funds and in the best interests of the company and its shareholders [4] Group 4: Company Overview - Tree Island Steel, established in 1964 and headquartered in Richmond, British Columbia, produces a variety of wire products for industrial, residential, commercial, and agricultural applications [5] - The company's product offerings include galvanized wire, bright wire, fasteners, stucco reinforcing products, concrete reinforcing mesh, fencing, and other fabricated wire products, marketed under various brand names [5]

Core Viewpoint - Tree Island Steel Ltd. is set to report its third quarter 2025 financial results on November 13, 2025, after market hours [1] Company Overview - Tree Island Steel, established in 1964 and headquartered in Richmond, British Columbia, operates facilities in Canada and the United States [2] - The company produces a variety of wire products for industrial, residential construction, commercial construction, and agricultural applications [2] - Product offerings include galvanized wire, bright wire, fasteners (packaged, collated, and bulk nails), stucco reinforcing products, concrete reinforcing mesh, fencing, and other fabricated wire products [2] - The company markets its products under several brand names, including Tree Island, Halsteel, K-Lath, TI Wire, Tough Strand, and ToughPanel™ [2]

Core Viewpoint - Tree Island Steel Ltd. is set to report its second quarter 2025 financial results on August 7, 2025, after market hours [1] Company Overview - Tree Island Steel, established in 1964 and headquartered in Richmond, British Columbia, operates facilities in Canada and the United States [2] - The company produces a variety of wire products for industrial, residential construction, commercial construction, and agricultural applications [2] - Product offerings include galvanized wire, bright wire, fasteners (packaged, collated, and bulk nails), stucco reinforcing products, concrete reinforcing mesh, fencing, and other fabricated wire products [2] - The company markets its products under several brand names, including Tree Island, Halsteel, K-Lath, TI Wire, Tough Strand, and ToughPanel™ [2]

Core Points - Tree Island Steel Ltd. announced that all matters at its 2025 Annual General Meeting of Shareholders received requisite shareholder approval [1] - The company elected all six director nominees proposed by management, with a total of 17,117,784 shares represented, accounting for approximately 65.85% of outstanding shares [2] Board of Directors - The voting results for the director elections showed high approval rates for all nominees, with Sam Fleiser receiving 99.86% votes in favor, while other nominees received between 96.18% and 96.32% [2] - The detailed voting results for each nominee are as follows: - Amar S. Doman: 16,397,252 votes for (96.18%), 651,793 votes against (3.82%) [2] - Peter Bull: 16,421,214 votes for (96.32%), 627,831 votes against (3.68%) [2] - Sam Fleiser: 17,025,005 votes for (99.86%), 24,040 votes against (0.14%) [2] - Joe Downes: 16,421,214 votes for (96.32%), 627,831 votes against (3.68%) [2] Company Overview - Tree Island Steel, headquartered in Richmond, British Columbia, has been operational since 1964 and produces a variety of wire products for industrial, residential, commercial, and agricultural applications [3] - The company's product offerings include galvanized wire, bright wire, fasteners, stucco reinforcing products, concrete reinforcing mesh, fencing, and other fabricated wire products, marketed under various brand names [3]

Core Viewpoint - Tree Island Steel reported a decline in revenues and profits for the first quarter of 2025, primarily due to reduced sales volumes and operational adjustments in response to market conditions [2][3]. Financial Performance - Revenues for the three months ended March 31, 2025, decreased by $6.4 million to $50.2 million from $56.6 million in the same period in 2024 [2]. - Gross profit fell to $3.9 million from $4.8 million year-over-year, attributed to lower sales and production volumes despite higher average selling prices [2]. - Adjusted EBITDA decreased to $2.0 million from $3.1 million in the same period in 2024 [2][5]. - Net income for the first quarter was $2, down from $625 in the same period in 2024, with net income per share remaining at $0.00 compared to $0.02 previously [4]. Operational Adjustments - The company reduced its workforce by 9% to manage operational costs in light of changing demand [2]. - The COO indicated that the company is rebalancing production and exploring new market opportunities to leverage operational capabilities [3]. Market Conditions - The decline in sales was primarily driven by lower demand from U.S. customers in the residential segment and the company's decision to withdraw from unprofitable product lines [2]. - A pullback in demand was noted due to U.S. tariffs on certain steel products made in Canada, impacting sales volumes [2]. Company Overview - Tree Island Steel, established in 1964, produces a variety of wire products for industrial, residential, commercial, and agricultural applications, with operations in Canada and the U.S. [6].

Company Overview - Tree Island Steel Ltd. is headquartered in Richmond, British Columbia, and has been operational since 1964 [2] - The company produces wire products for various applications including industrial, residential construction, commercial construction, and agricultural uses [2] - Product offerings include galvanized wire, bright wire, fasteners (packaged, collated, and bulk nails), stucco reinforcing products, concrete reinforcing mesh, fencing, and other fabricated wire products [2] - The company markets its products under several brand names including Tree Island®, Halsteel®, K-Lath®, TI Wire®, Tough Strand®, and ToughPanel™ [2] Financial Reporting - Tree Island Steel will report its first quarter 2025 financial results for the period ended March 31, 2025, after market hours on May 9, 2025 [1]