R. Keast Family Holdings Inc. Transfers Shares to Purchaser

Vancouver, British Columbia--(Newsfile Corp. - August 4, 2023) -  R. Keast Family Holdings Inc. ("RKF") announced today that it has sold (the "Sale") to The 2020 R. Keast Investment Trust (the "RIT", or the "Purchaser") an aggregate of 7.5 common shares (the "Shares") in the authorized capital of 1289625 B.C. Ltd. ("625") pursuant to a share purchase agreement entered into between RKF and the Purchaser on August 3, 2023. The Shares were sold at a price of $1.00 per Share for an aggregate price of $7.50.

Prior to the Sale, RKF held 7.5 (16.216%) common shares in 625. As a result of the Sale, RKF no longer holds any Shares in 625. RKF sold the Shares for private investment purposes and may increase its beneficial ownership or control in 625 as circumstances or market conditions warrant.

The Sale was conducted in reliance on the "private agreement exemption" in section 4.2 of National Instrument 62-104 - Take-Over Bids and Issuer Bids ("NI 62-104") and as a result was exempt from the take-over bid requirements in Part 2 of NI 62-104. The Shares were purchased by fewer than 5 sellers and at a price not greater than 115% of the value of the Shares.

This news release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the early warning report will appear with 625's documents on the System for Electronic Document Analysis and Retrieval at www.sedar.com.

For further information or to request a copy of the early warning report, please contact:

R. Keast Family Holdings Inc.
Attention: Riley Keast
(647) 286-2995

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities Laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/176185