MONTREAL, Quebec -- GLV Inc. has announced that, following a Special Meeting of the shareholders of GLV, a resolution approving the sale of GLV's Pulp & Paper Division to 9027173 Canada Inc., a corporation owned by Richard Verreault, the President and Chief Executive Officer of GLV and Laurent Verreault, the Executive Chairman of the Board of GLV, was adopted by GLV shareholders.

Furthermore, GLV announced that a resolution approving the name change from GLV Inc. to Ovivo Inc. was adopted by GLV shareholders.

"The Board of Directors of GLV is pleased that the shareholders have approved the sale of the Pulp & Paper Division and the change of name to Ovivo Inc." said GLV Executive Vice President and Ovivo President Marc Barbeau. "GLV will now be entirely focused on its core water treatment business, and will benefit from a strong financial position to capitalize on growth opportunities going forward."

Subject to all customary closing conditions for the sale of the Division being satisfied, it is expected that the Corporation will proceed to close the sale of the Division on or about November 28, 2014. A few weeks later, GLV will change its name to Ovivo Inc. to reflect the Corporation's focus on water treatment products and solutions. In addition, the Corporation will seek approval from the Toronto Stock Exchange for new ticker designations. Any changes in this regard will be communicated to shareholders and investors in due course.