Toronto, Ontario--(Newsfile Corp. - August 15, 2024) -  Lorne Park Capital Partners Inc. (TSXV: LPC) ("LPCP" or the "Corporation") is pleased to announce it has closed a non-brokered private placement offering (the "Offering") of non-convertible and unsecured debentures of the Corporation (the "Debentures") for aggregate gross proceeds of $3,764,000. The Debentures mature on and become payable on August 15, 2029 and bear interest at a fixed rate of 7.8% per annum. The Debentures are direct, unsecured obligations of the Corporation, ranking equally with all other unsecured indebtedness of the Corporation.

All of the securities issued in connection with the Offering are subject to a four-month hold period under applicable Canadian securities laws expiring December 16, 2024. The net proceeds of the Offering will be used to redeem existing non-convertible and unsecured debentures of the Corporation and for general working capital purposes. The Offering is subject to final approval by the TSX Venture Exchange.

Insiders of the Corporation purchased an aggregate of $400,000 of Debentures pursuant to the Offering. The Offering is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Offering is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 because the Corporation was not listed on a stock exchange specified in section 5.5(b) of MI 61-101, and neither the fair market value of securities being issued to insiders nor the consideration being paid by insiders will exceed 25% of the Corporation's market capitalization.

About Lorne Park Capital Partners Inc.

LPCP was created to bring together boutique investment management and wealth advisory firms in order to deliver robust, cost-effective investment solutions to affluent investors, foundations, estates and trusts. LPCP's unique strategy creates better alignment between investment managers and wealth advisors while providing them with additional resources to accelerate their growth.

For further information, please contact:

Robert Sewell
Chief Executive Officer
Lorne Park Capital Partners Inc.
[email protected]
(905) 337-2227

Cautionary Notes

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

/NOT FOR DISTRIBUTION IN THE UNITED STATES, ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW/