Mr. Gediminas Klepackas reports

TONY G CO-INVESTMENT HOLDINGS ANNOUNCES CONCLUSION OF LITIGATION

On Jan. 24, 2025, and Feb. 20, 2025, Justice C. Stevenson provided supplementary reasons with respect to the amounts payable by Tony G Co-Investment Holdings Ltd. pursuant to his Dec. 13, 2024, decision in the company's litigation in the Ontario Superior Court of Justice with European High Growth Opportunities Manco SA, as described by the company in its news release dated Dec. 23, 2024. The company also reports that it has paid all amounts determined by the court to be payable in accordance with his decision and supplementary reasons, and all outstanding issues in the litigation have been finally disposed.

The court determined that EHGO was not entitled to the payment of $1,288,000 that it claimed to be owing under the debenture dated Aug. 10, 2021, issued by the company to it, and that the debenture had automatically converted into 1,312,946 previously issued common shares of the company in accordance with the terms of the debenture. EHGO claimed that it was entitled to $859,809.43 in damages and interest for the late issuance of these shares as well as costs. In its supplementary reasons, the court rejected EHGO's calculation of damages and costs payable by the company. Pursuant to the court's supplementary reasons, the company paid a total of $269,654.04 in damages, interest and costs to EHGO to fully dispose of the litigation.

Gediminas Klepackas, chief executive officer of the company, commented: "We are pleased with the favourable rulings of the court and to have concluded the litigation. The company's leadership is committed to continuing to protect the company, including by enforcing its contractual rights and placing its interests ahead of any conflicting interests of others."

We seek Safe Harbor.