Mr. Chris Beck reports

CALDWELL ANNOUNCES LEASE TERMINATION GAIN OF CAD $9.1 MILLION

The Caldwell Partners International Inc. has successfully negotiated a full termination of its leased facilities for IQTalent in Nashville, Tenn.

As disclosed in the company's financials for the year ended Aug. 31, 2023, a lease impairment charge of $8.1-million was recognized as a result of the decision to sublease a portion of the leased space in Nashville and reflecting market conditions at the time. This successful and penalty-free termination of the lease will result in a lease modification gain in the company's first quarter results of approximately $9.1-million. The lease will terminate without conditions on Feb. 29, 2024.

"I'm very pleased that we were able to obtain this favourable outcome," said John Wallace, chief executive officer. "Eliminating $9.1-million of future payment obligations is a significant lift to our business, improving our operational outlook and further enhancing our strong financial position."

About The Caldwell Partners International Inc.

Caldwell Partners is a technology-powered talent acquisition firm specializing in recruitment at all levels.

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