Tree Island Steel Ltd. (the "Company" or "Tree Island Steel") (TSX:TSL) announces the retirement of Dale R. MacLean as President, Chief Executive Officer and director of the Company.

Tree Island Steel Ltd. (the "Company" or "Tree Island Steel") (TSX:TSL) announced today that it has received approval from the Toronto Stock Exchange (the "TSX") to renew its proposed normal course issuer bid to purchase up to 1,441,000 common shares, representing approximately 5% of Tree Island's issued and outstanding common shares. Purchases under the normal course issuer bid will be made through the facilities of the TSX or any Canadian alternative trading system. The period of the normal course issuer bid will extend from November 7, 2019 to November 6, 2020, or an earlier date should Tree Island Steel complete its purchases. All common shares purchased under the bid will be cancelled. The actual number of common shares purchased, the time of purchases and the price at which the common shares will be acquired will depend on future market conditions.

Tree Island Steel ("Tree Island" or the "Company") (TSX:TSL) announced today its financial results for the three-month and nine-month periods ended September 30, 2019.