Canaccord Genuity Group Inc. announced that Gillian Denham, Dipesh Shah, Charles Bralver and Sally Tennant and Francesca Shaw provided the Company notice of their resignation from the Board of Directors of the Company. The resignation letter indicated in part that it is the view of the Former Special Committee Directors that they could not satisfy their fiduciary duties to the Company and fulfil their mandate in the circumstances. Further, the Former Special Committee Directors indicated that they believed that the breakdown with management and others through the course of the bid was irreparable.

As a result of the resignation of the directors, the Board convened two meetings on March 12, 2023 (the "Meetings"). In the Meetings, the Board appointed Terrence Lyons as a new director of the Board to fill one of the vacancies created on the Board. Mr. Lyons is the former Lead Director and Chair of the Audit and Risk Committee of the Company, having served as a director of the Company from 2004-2022.

Additional biographical information regarding Mr. Lyons is set out below. Mr. Lyons has an impeccable governance track record and has been deemed independent by the Company in each year he previously served as a director. Mr. Lyons is independent of SKKY Capital and the Management Group.

At the Meetings, pursuant to a resolution passed by independent members of the Board, the Board approved the appointment of new members of the Special Committee being Michael Auerbach (Chair) and Terrence Lyons. In addition, the Board appointed Terrence Lyons as its new Lead Director. The Audit and Risk Committee is now comprised of Terrence Lyons (Chair), Michael Auerbach and Jo-Anne O'Connor and the Corporate Governance and Compensation Committee (the "CGC Committee") is now comprised of Michael Auerbach (Chair), Jo-Anne O'Connor and Terrence Lyons.

With these changes, the Board is now comprised of five (5) directors, of which three (3) are independent. The CGC Committee will be reviewing the director complement against the Company's skills matrix to guide the appointment of any additional directors. Since the initial announcement pertaining to of the Offer on January 9, 2023, the Company's business and operations have continued to perform in-line with expectations.

The Company and its management team remain steadfastly committed to continuing to seek the best possible results for the Company's employees, clients and shareholders as the Special Committee and the independent members of the Board review the Offer. The Company has received confirmation that the Management Group's bid is unaffected by these developments. The Special Committee intends on continuing the mandate in progress to review and evaluate the Management Group's bid and has engaged with securities regulators to allow for a delay in the dissemination of a directors circular.

The Special Committee has retained Norton Rose Fulbright Canada LLP as its independent legal counsel. Terrence (Terry) Lyons: Terrence (Terry) Lyons, ICD.D, age 73, is a corporate director and currently serves as Lead Director and Chair of the Audit and Risk Committee. He is an Independent Director and Chair of the Audit Committee of Martinrea International Inc. He is also a Director of several public and private corporations, including Three Valley Copper Corp.

(Chairman), Mineral Mountain Resources Ltd. and Waterotor Technologies Inc. (Chairman). Mr. Lyons is a retired Managing Partner of Brookfield Asset Management, past Chairman of Polaris Materials Corp. (recently acquired by Vulcan Materials), Northgate Minerals Corp.

(now Alamos Gold), Eacom Timber Corp. (acquired by Interfor) and Westmin Mining and Vice-Chairman of Battle Mountain Gold (acquired by Newmont Gold). He was previously on the Board of Directors of Canaccord Genuity Group Inc. for 18 years from 2004 to 2022, having served as Lead Director and Chair of the Audit Committee.Terry is a Civil Engineer (UBC) with an MBA from Western University.

He is a Member Emeritus of the Advisory Board of the Richard Ivey School of Business and is active in sports and charitable activities, is a past Governor of the Olympic Foundation of Canada, past Chairman of The Mining Association of B.C., past Governor and member of the Executive Committee of the B.C. Business Council, past Co-Chair of the B.C. Business Hall of Fame, past Director of the Institute of Corporate Directors (BC) and a former director of the BC Pavilion Corp. (Pavco). In 2007, he was awarded the INCO Medal by the Canadian Institute of Mining and Metallurgy for distinguished service to the mining industry.