Toronto, Ontario--(Newsfile Corp. - May 7, 2026) - Steep Hill Inc. (CSE: STPH) ("Steep Hill" or the "Company") is pleased to announce that, further to its press releases of November 13, 2025 and December 19, 2025, and in connection with its ongoing transaction with Good Purpose Investments Inc. ("Good Purpose"), the Company has filed articles of amendment (the "Articles"), to be effective May 12, 2026, to change its name to "Good Purpose Investments Inc." (the "Name Change") and consolidate its issued and outstanding common shares (the "Common shares") on the basis of six (6) pre-consolidation Common Shares for one (1) post-consolidation Common Share (the "Consolidation"). The Name Change and Consolidation were approved by shareholders of the Company at its special meeting held on March 26, 2026. A new CUSIP number has been obtained for the Common Shares, which replaces the previous CUSIP number.

Following the Consolidation, the Company will have approximately 2,914,864 Common Shares outstanding. No fractional Common Shares will be issued pursuant to the Consolidation and any fractional shares that would have otherwise been issued have been rounded down to the nearest whole Common Share. The change in the number of issued and outstanding Common Shares resulting from the Consolidation will not materially affect any shareholder's percentage ownership in the Company, although such ownership will be represented by a smaller number of Common Shares.

Letters of transmittal with respect to the Name Change and Consolidation are being mailed out to the Company's registered shareholders. All registered shareholders will be required to send their share certificates, along with a properly executed letter of transmittal, to the Company's registrar and transfer agent, Endeavor Trust Corporation, in accordance with the instructions provided in the letter of transmittal. Shareholders who hold their Common Shares through a broker, investment dealer, bank or trust company should contact that nominee or intermediary for assistance in depositing their Common Shares in connection with the Name Change and Consolidation. A copy of the letter of transmittal will be posted on the Company's issuer profile on SEDAR+ at www.sedarplus.ca.

About the Company

Steep Hill Inc. is a publicly traded company listed on the Canadian Securities Exchange that has no current operations and is focused on seeking and evaluating potential transactions.

Cautionary Note Regarding Forward-Looking Statements

Certain information contained herein may constitute forward-looking statements that involve risks and uncertainties. Readers are cautioned not to place undue reliance on forward-looking statements, including, but not limited to, statements regarding the anticipated completion of the transactions described herein, including the Transaction and the proposed related Consolidation and Name Change. Factors that could cause actual results to vary from forward-looking statements or may affect the operations, performance, development, and results of the Company's business include, among other things: failure to obtain the approvals required in order to complete the transactions described herein; failure by either the Company or Good Purpose to complete the conditions to the Transaction; and general economic and business conditions. Any statements that are not statements of historical fact are deemed to be forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this news release, and, except to the extent required by applicable law, the Company assumes no obligation to update or revise forward-looking statements made herein or otherwise, whether because of new information, future events, or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary note.

The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296592