Tree Island Announces Meeting Results Including Approval of Share Consolidation

Tree Island Steel Ltd. (the "Company" or "Tree Island Steel") (TSX:TSL)
announced that all matters put forward for consideration at its annual and
special meeting of shareholders held on May 13, 2014 (the "Meeting") received
requisite shareholder approval. Results of the voting for the director elections
and the consolidation of the Company's issued and outstanding common shares
("Common Shares") are described below. Additional information regarding the full
results of all matters voted on at the Meeting has been filed by the Company on
SEDAR.


Election of Directors 

All nominees listed in the management information circular for the Meeting were
elected as directors of Tree Island Steel. Detailed results of the votes
received by proxy for the election of directors held at the Meeting are set out
below:




                                  Votes For        Votes Withheld   
        Amar S. Doman            30,544,360            234,450      
                                  (99.24%)             (0.76%)      
        Sam Fleiser              30,616,960            161,850      
                                  (99.47%)             (0.53%)      
        Michael Fitch            30,617,260            161,550      
                                  (99.48%)             (0.52%)      
        Theodore A. Leja         30,122,435            656,375      
                                  (97.87%)             (2.13%)      
        Dale R. MacLean          30,093,760            685,050      
                                  (97.77%)             (2.23%)      
        Harry Rosenfeld          30,460,060            318.750      
                                  (98.96%)             (1.04%)      



Share Consolidation

At the Meeting, the Company's shareholders approved the previously announced
consolidation of the Company's Common Shares on the basis of one (1)
post-consolidation Common Share for every two (2) pre-consolidation Common
Shares (the "Consolidation"). The Company announced today that it had filed
articles of amendment to give effect to the Consolidation on May 13, 2014. 


The Company expects that the Consolidation will reduce the number of its
outstanding Common Shares from approximately 60,687,650 to approximately
30,343,825. All materials necessary to effect the Consolidation will be filed
with the Toronto Stock Exchange ("TSX") on or about May 14, 2014 and, subject to
TSX approval, it is expected that the Common Shares will commence trading on the
TSX on a consolidated basis on or about May 20, 2014 under the symbol "TSL". 


Letters of transmittal describing the process by which shareholders exchange
their existing share certificates/DRS Advices for DRS Advices (or share
certificates if requested by the shareholder in accordance with the instructions
contained in the DRS Advices) representing the consolidated Common Shares will
be mailed to registered shareholders of the Company later today. Registered
shareholders may also obtain copies of the letter of transmittal by contacting
their broker or other intermediary or the Company's transfer agent,
Computershare Investor Services Inc. 


Shareholders who hold their Common Shares through their broker or other
intermediary and do not have actual share certificates/DRS Advices registered in
their name will not be required to complete and return a letter of transmittal.
Any pre-consolidation Common Shares owned by such shareholders will
automatically be adjusted as a result of the Consolidation to reflect the
applicable number of post-consolidation Common Shares owned by them and no
further action is required to be taken by such shareholders. If as a result of
the Consolidation a shareholder becomes entitled to a fractional Common Share,
such fractions will be rounded down to the nearest whole Common Share.


About Tree Island Steel 

Headquartered in Richmond, British Columbia, since 1964, Tree Island Steel,
through its four operating facilities in Canada and the United States, produces
wire products for a diverse range of industrial, residential construction,
commercial construction, agricultural, and specialty applications. Its products
include galvanized and bright wire; a broad array of fasteners, including
packaged, collated and bulk nails; stucco reinforcing products; concrete
reinforcing mesh; fencing and other fabricated wire products. The Company
markets these products under the Tree Island, Halsteel, K-Lath, Industrial
Alloys, TI Wire, and Tough Strand brand names. Tree Island Steel also owns and
operates a China-based company that assists the international sourcing of
products.


Forward-Looking Statements 

This press release includes forward-looking information with respect to the
Company including statements with respect to the number of Common Shares
outstanding post-Consolidation, the timing of the TSX filings, the timing of the
commencement of trading of the Common Shares on the TSX on a consolidated basis
and the timing of the mailing of the letters of transmittal. The use of
forward-looking words such as, "may," "will," "expect" or similar variations
generally identify such statements. Any statements that are contained herein
that are not statements of historical fact may be deemed to be forward-looking
statements. Although management believes that expectations reflected in
forward-looking statements are reasonable, such statements involve risks and
uncertainties including risks and uncertainties discussed under the heading
"Risk Factors" in Tree Island's most recent annual information form and
management discussion and analysis. 


The forward looking statements contained herein reflect management's current
beliefs and are based upon certain assumptions that management believes to be
reasonable based on the information currently available to management. By their
very nature, forward looking statements involve inherent risks and
uncertainties, both general and specific, and a number of factors could cause
actual events or results to differ materially from the results discussed in the
forward looking statements. In evaluating these statements, prospective
investors should specifically consider various factors including the risks
outlined in the Company's most recent annual information form and management
discussion and analysis which may cause actual results to differ materially from
any forward looking statement. Such risks and uncertainties include, but are not
limited to: general economic, market and business conditions, the cyclical
nature of our business and demand for our products, financial condition of our
customers, competition, volume and price pressure from import competition,
deterioration in the Company's liquidity, disruption in the supply of raw
materials, volatility in the costs of raw materials, significant exposure to the
Western United States due to lack of geographic diversity, dependence on the
construction industry, transportation costs, foreign exchange fluctuations,
leverage and restrictive covenants, labour relations, trade actions, dependence
on key personnel and skilled workers, reliance on key customers, intellectual
property risks, energy costs, uninsured loss, credit risk, operating risk,
management of growth, changes in tax, environmental and other legislation, and
other risks and uncertainties set forth in our publicly filed materials. 


This press release contains information that is current as of the date of this
press release, unless otherwise noted. Events occurring after that date could
render the information contained herein inaccurate or misleading in a material
respect. Readers are cautioned not to place undue reliance on this forward
looking information and management of the Company undertakes no obligation to
update publicly or revise any forward-looking information, whether as a result
of new information, future events or otherwise except as required by applicable
securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Ali Mahdavi
Investor Relations
Tree Island Steel Ltd.
416-962-3300 or [phone]
Email: [e-mail]
Website: www.treeisland.com