2171117 Ontario Inc. Acquires Shares from Sellers

Vancouver, British Columbia--(Newsfile Corp. - August 13, 2021) - 2171117 Ontario Inc. ("117") announced today that it has acquired (the "Acquisitions") an aggregate of 750,000 common shares in the capital of 1287401 B.C. Ltd. ("401") (the "Purchased Shares") from each of 1261648 B.C. Ltd. ("648") (168,750 Purchased Shares), B. Keast Family Holdings Inc. ("BKF") (187,500 Purchased Shares), R. Keast Family Holdings Inc. ("RKF") (187,500 Purchased Shares), SFH Inc. (187,500 Purchased Shares) and AMKOR Enterprises Ltd. ("AMKOR") (18,750 Purchased Shares) (collectively with 648, BKF, RKF and SFH the "Sellers") pursuant to share purchase agreements entered into between 117 and each Seller on August 12, 2021. The Purchased Shares were purchased at a price of $0.0001 per Purchased Share for an aggregate price of $75.

Prior to the Acquisitions, 117 held nil shares of 401. As a result of the Acquisitions, 117 now holds 750,000 (25%) shares of 401.

The Acquisitions were 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 Purchased Shares were purchased from not more than five sellers and at a price less than 115% of the market price of the Purchased Shares, in each case as calculated in accordance with NI 62-104.

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 401'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:

2171117 Ontario Inc.
Attention: Patrick McBride
(416) 450-7777

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/93112.