Canadian General Investments, Limited Redeems $75 Million Class A Preference Shares, Series 4 Funded by Margin Borrowing

Canadian General Investments, Limited (CGI or the Company) (TSX: CGI) (LSE: CGI) today completed the previously announced redemption of its $75,000,000 3.75% Cumulative Redeemable Class A Preference Shares, Series 4. This redemption was in accordance with the terms of the Series 4 shares.

The aggregate amount of $75,685,800 (including accrued and unpaid dividends from March 15, 2023 to, but excluding, June 12, 2023) was funded primarily through margin borrowing pursuant to a prime brokerage services agreement the Company had entered into with a Canadian chartered bank in 2021.

CGI has engaged in a leverage strategy since its first issuance of Class A preference shares in 1998 with the intent to enhance returns to common shareholders. As at June 12, 2023, the total leverage of $175 million in margin borrowing was 15.7% of CGI’s net assets.

FOR FURTHER INFORMATION PLEASE CONTACT: Canadian General Investments, Limited Jonathan A. Morgan President and CEO Phone: [phone] Fax: [phone] e-mail: [e-mail] website: www.canadiangeneralinvestments.ca