Tree Island Steel Ltd. Announces Conversion of Debentures by Arbutus Distributors Ltd.

Tree Island Steel Ltd. (TSX:TSL)(TSX:TSL.DB) (the "Company" or "Tree Island
Steel") announces that on January 23, 2014, Arbutus Distributors Ltd.
("Arbutus") has exercised its conversion of $4,594,400 of Tree Island Steel's
10% second lien convertible debentures due November 26, 2014 (the "Debentures")
into 9,188,800 common shares of Tree Island Steel. 


After taking into account the conversion of Debentures by Arbutus, Tree Island
Steel's current number of issued and outstanding common shares is 49,156,050 and
Arbutus now owns 19.3% of the issued and outstanding common shares of the
Company. Arbutus also owns 1,597,500 warrants exercisable into common shares of
Tree Island Steel at an exercise price of $0.57. 


The current amount of issued and outstanding Debentures is $5,940,400 and Tree
Island Steel has 4,372,500 warrants outstanding and exercisable into common
shares at an exercise price of $0.57. 


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 and Select Brand names. Tree Island Steel also
owns and operates a China-based company that assists the international sourcing
of products.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Tree Island Steel Ltd.
Ali Mahdavi
Investor Relations
(416)-962-3300 or +1(866) 430-6247
amahdavi@treeisland.com


Tree Island Steel Ltd.
Nancy Davies
(604) 523-4587
ndavies@treeisland.com
www.treeisland.com

Tree Island Steel (TSX:TSL)
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