AMED FUNDS ANNOUNCES THE COMPLETION OF ITS PURCHASE OF CANADA FLUORSPAR

TORONTO, June 12, 2023 /PRNewswire/ -- AMED Funds ("AMED") and Clariti Strategic Advisors^TM ("Clariti") are pleased to announce the completion of the purchase by a portfolio company of AMED Fund IV of Canada Fluorspar Inc., the parent company of the Canada Fluorspar mine in St. Lawrence, NL ("Canada Fluorspar"). The transaction closing follows many months of review, analysis and negotiations and discussions with several stakeholders, including the senior lenders to Canada Fluorspar, the DIP lenders, Grant Thornton (as court-appointed Monitor) and the Province of Newfoundland and Labrador (the "Province").

Rudolph de Bruin, an international mining industry veteran with decades of successful mining and exploration experience, who is a sponsoring partner of AMED and a director of the purchasing company, said: "We are very pleased to have successfully completed the purchase of Canada Fluorspar. The Canada Fluorspar mine in St. Lawrence is an important economic driver in the Province and had been providing many jobs and significant revenue locally before it was shut down. The mine produces acidspar grade Fluorspar, which is a key material used in the production process of lithium batteries, solar panels and steel. These are products that society is heavily reliant on, and that reliance is only projected to increase. AMED is looking forward to re-opening the mine and establishing its business operations with its eyes set on sustainable long-term profitability and a net positive benefit to the region and the local community in the short and long term."

Willem Jacobs, Senior Managing Director and Head of Energy and Mining Investment Banking at Clariti added: "Canada Fluorspar will now become a very important part of AMED's fluorspar businesses and its global industrial minerals product offering. The operation will benefit from AMED's fluorspar technical knowledge and its sales and distribution network, which in turn will bring significant benefits to the Province and the local community."

Rahul Suri, Founder and Managing Partner of Clariti said: "We are delighted to have advised AMED Funds on their strategy and this highly strategic acquisition. This was a complex transaction as the parties had to maintain and balance all stakeholders' interests in an effort to develop a positive outcome overall. The parties worked diligently to create an optimal result for stakeholders, including the senior lenders, the DIP lenders, the company (acting through the court-appointed Monitor), and very importantly the local community and the Province. We understand from the Monitor's filings with the court that the AMED proposal was materially the best proposal received, and we wish to thank all parties and their representatives for their diligent and very constructive work to help bring this transaction across the finish line."

AMED Funds is a group of private equity funds with a focus on mining and exploration projects. AMED Funds has a successful track record over the last decade identifying, purchasing and operating diverse mining projects. The AMED Funds have over US$1.4 billion in assets under management, which include a significant investment in a South Africa-based fluorspar operation and various other fluorspar projects.

Clariti Strategic Advisors^TM is an investment banking and strategic advisory firm that provides unsurpassed insight, creativity, integrity and value to its clients. For further information, please contact Rahul Suri, Founder and Managing Partner of Clariti, whose details can be found at www.claritiadvisors.com

Media Contact: Rahul Suri, Founder and Managing Partner, Clariti Strategic Advisors Inc., Email: rahul.suri@claritiadvisors.com, Phone: 416-585-2629