James T. Grenon Provides Update regarding Investment in Foremost Income Fund

Calgary, Alberta--(Newsfile Corp. - April 6, 2020) - James T. Grenon ("Mr. Grenon") announces that on April 6, 2020, Mr. Grenon concluded a private transaction with an arm's-length third party to acquire 331,957 trust units in Foremost Income Fund ("Foremost") for the posted redemption price of $6.00 per trust unit, totalling $1,991,742.

Upon completion of the transaction, Mr. Grenon has ownership of, and control over, 12,738,419 trust units of Foremost, representing 71.7% of Foremost's outstanding trust units. Mr. Grenon acquired the trust units for investment purposes.

Mr. Grenon has filed an early warning report today pursuant to National Instrument 62-103 - The Early Warning system and Related Take-Over Bid and Insider Reporting Issues.

The above-referenced early warning report relating to this press release has been filed on System for Electronic Document Analysis and Review (SEDAR) at www.sedar.com under Foremost's issuer profile.

For further information or to obtain a copy of the early warning report, please contact Zeke Purves-Smith, agent for Mr. Grenon, at zeke.purvse-smith@zpsprivatelaw.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54177