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Thermal Energy International Inc. 
Listed Company 

THERMAL ENERGY INTERNATIONAL INC. ("TMG")
BULLETIN TYPE: Normal Course Issuer Bid
BULLETIN DATE: November 3, 2014
TSX Venture Tier 2 Company

TSX Venture Exchange has been advised by the Company that pursuant to a Notice of Intention to make a Normal Course Issuer Bid dated October 22, 2014, it may repurchase for cancellation, up to 13,018,133 shares in its own capital stock. The purchases are to be made through the facilities of TSX Venture Exchange or other recognized marketplaces during the period November 3, 2014 to November 3, 2015. Purchases pursuant to the bid will be made by Canaccord Genuity Corp. on behalf of the Company.
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