Hartco Enters into Agreement With Mr. Harry Hart

MONTREAL, CANADA--(Marketwired - April 16, 2015) - Hartco Inc. ("Hartco" or the "Company") (TSX:HCI) today announced that the Company, acting through a Special Committee of Hartco's Board of Directors comprised exclusively of independent directors, has entered into a letter agreement (the "Letter Agreement") with two companies controlled by Mr. Harry Hart under which the two companies have agreed (i) to make a take-over bid to acquire all of the issued and outstanding common shares of Hartco, other than shares held directly or indirectly by Mr. Hart and members of his immediate family, at a price of $3.40 in cash per share, representing total consideration of approximately $18.3 million, and (ii) to tender to or support any third party offer which constitutes a "Superior Proposal", as described below, which is not matched by Mr. Hart (the "Obligation to Tender").

Hartco Enters into Agreement With Mr. Harry Hart