FG Acquisition Corp. Announces IPO Warrant Deposit and Redemption Election Deadlines

TORONTO, Aug. 7, 2024 /CNW/ - FG Acquisition Corp. (TSX: FGAA.U) (TSX: FGAA.WT.U) ("FGAC" or the "Corporation"), a special purpose acquisition company, announced today that, in connection with the closing of its acquisition of Strong/MDI Screen Systems, Inc. (the "Qualifying Acquisition"), which is anticipated to occur in the first week of September 2024, it has determined the Redemption Election Deadline and IPO Warrant Deposit Deadline (in each case, as defined below).

In connection with the Qualifying Acquisition, holders of the Class A restricted voting shares (the "Class A Restricted Voting Shares") have the right to redeem all or a portion of their Class A Restricted Voting Shares, provided that they deposit their Class A Restricted Voting Shares prior to 5:00 p.m. (Toronto time) on September 3, 2024 (the "Redemption Election Deadline") in accordance with the instructions contained in the notice of redemption (the "Notice of Redemption"), a copy of which is available on SEDAR+ at sedarplus.ca and is being mailed to holders of the Class A Restricted Voting Shares.

In addition, holders of share purchase warrants of FGAC (the "IPO Warrants"), other than FGAC Investors LLC and CG Investments VII Inc. (collectively, the "Sponsors"), have the right to require the Sponsors to acquire all or a portion of their IPO Warrants for US$1.25 per IPO Warrant, provided that they deposit their IPO Warrants prior to 5:00 p.m. (Toronto time) on August 28, 2024 (the "IPO Warrant Deposit Deadline"), in accordance with the instructions contained in the notice of qualifying transaction (the "Notice of Qualifying Transaction"), which is available on SEDAR+ at www.sedarplus.ca and has been mailed to the registered holders of the IPO Warrants.

About FGAC

FG Acquisition Corp. is a special purpose acquisition company incorporated under the laws of British Columbia for the purpose of effecting, directly or indirectly, an acquisition of one or more businesses or assets, by way of a merger, amalgamation, arrangement, share exchange, asset acquisition, share purchase, reorganization, or any other similar business combination involving the Corporation. Kyle Cerminara serves as Chairman, Larry Swets, Jr. serves as Director and Chief Executive Officer, and Hassan R. Baqar serves as Director and Chief Financial Officer of the Corporation. In addition, Robert I. Kauffman, a former co-founder and Principal of Fortress Investment Group, serves as a Senior Advisor to the Corporation. The Corporation received $115 million of proceeds from its initial public offering which was completed on April 5, 2022 and the closing of the over-allotment option granted in connection with such initial public offering which was completed on April 20, 2022. The gross proceeds of the offering were placed in an escrow account with TSX Trust Company immediately thereafter and will be released upon consummation of the Qualifying Acquisition in accordance with the terms and conditions of the escrow agreement.

SOURCE FG Acquisition Corp.

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