Lorne Park Capital Partners Inc. Expands Its Operations into the USA by Acquiring a Controlling Interest in Promus Asset Management, LLC

Toronto, Ontario--(Newsfile Corp. - January 3, 2023) -  Lorne Park Capital Partners Inc. (TSXV: LPC) ("LPCP") is pleased to announce that it has, through a newly established, wholly-owned subsidiary, Bellwether Investment Management USA, Inc. ("Bellwether USA"), closed an acquisition of 80% of the membership interests of Promus Asset Management, LLC ("Promus"). Promus is a Texas limited liability company, registered with the Securities and Exchange Commission as an investment advisor, and holds approximately U$430 million in assets under management. This transaction is at arm's length and no securities are being issued by LPCP.

The membership interest purchase agreement ("MIPA") provides that Bellwether USA will acquire 80% of the membership interests of Promus in exchange for consideration of U$4,489,382, to be paid by Bellwether USA as follows: U$3,120,000 on closing, and U$1,369,382 on the first anniversary of closing, in each case subject to adjustment as provided in the MIPA. On closing, Promus will become a subsidiary of Bellwether USA and will continue to operate as a registered investment advisor.

Promus was founded in 2011 by Brandon Pope to provide investment management services to its clients, and was recognized in 2020, 2021 and 2022 as a top wealth management firm in Dallas-Fort Worth by D Magazine. "My vision has always been to engage, encourage and empower families to define, plan and create their family legacy, through planning, preparation and proper wealth management. We have been working with our clients to accomplish these goals through integrity, independence and objectivity," said Mr. Pope. He continued, "Lorne Park and Bellwether hold the same values and disciplined approach. This transaction will allow us access to a larger portfolio management team as well as additional resources and offerings to better serve our clients, and we are proud to be part of this growing Company."

"We are very excited to welcome the Promus team and we look forward to working together to continue to deliver outstanding client service and unique investment offerings that both Promus and our existing clients have enjoyed for many years," said Robert Sewell, President and CEO of LPCP. "We are continuing to execute on our growth initiatives and this investment takes our combined assets under management well over the $2.5 billion threshold and provides a footprint to further expand our service offerings across North America."

About Lorne Park Capital Partners Inc.

LPCP was created to bring together boutique investment management and wealth advisory firms in order to deliver robust, cost-effective investment solutions to affluent investors, foundations, estates and trusts. LPCP's unique strategy creates better alignment between investment managers and wealth advisors while providing them with additional resources to accelerate their growth. LPCP wholly owns Bellwether Investment Management Inc. ("Bellwether"), Bellwether Estate and Insurance Services Inc., and Bellwether Investment Management USA. Inc.

About Bellwether Investment Management Inc.

Bellwether is a boutique investment manager that offers tailored investment solutions for affluent investors, foundations, estates and trusts utilizing its proprietary "Disciplined Dividend Growth" Investment Process. Bellwether provides discretionary investment management focused on North American Dividend Growth investing and is dedicated to serving the distinct needs of affluent families. Bellwether's suite of investment solutions includes Canadian, US and global equity and fixed income strategies. Bellwether is registered as a portfolio manager in Alberta, British Columbia, Manitoba, Nova Scotia, Ontario, Quebec and Saskatchewan, an exempt market dealer in Alberta, Ontario and Quebec, and an investment fund manager in Ontario and Quebec.

About Promus Asset Management, LLC

Promus is an award-winning wealth management firm based in Dallas, Texas and registered with the Securities and Exchange Commission as an investment advisor.

For further information, please contact:

Robert Sewell
Chief Executive Officer
Lorne Park Capital Partners Inc.
(905) 337-2227

Cautionary Notes

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", "plan", and other similar expressions. Forward looking information in this news release includes, without limitation, LPCP's objectives, goals and future plans. Forward-looking information addresses possible future events, conditions and financial performance based upon management's current expectations, estimates, projections and assumptions. In particular, the forward-looking information contained in this news release reflects assumptions about the timing and results of the amalgamation and regulatory approvals. Management of LPCP considers the assumptions on which the forward-looking information contained herein are based to be reasonable. However, by its very nature, forward-looking information inherently involves known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied by such information. Such risks include, without limitation, changes in economic conditions, applicable laws or regulations. Accordingly, readers are cautioned not to place undue reliance on forward-looking information. LPCP disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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