Early Warning Report Issued Pursuant to National Instrument 62-103 Acquisition of Units of Ravensource Fund

/NOT FOR DISTRIBUTION TO UNITED STATES OF AMERICA WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA/

TORONTO, Sept. 29, 2023 /CNW/ - This press release is being disseminated as required by National Instrument 62–103 - The Early Warning System and Related Take Over Bids and Insider Reporting Issuers in connection with the filing of an early warning report (the "Early Warning Report") regarding the acquisition of units of Ravensource Fund (TSX: RAV.UN), a closed-end fund (the "Issuer"), with its head office located at 30 St. Clair Avenue West, Suite 901 Toronto, Ontario M4V 3A1, by Theodore Walker Cheng-De King, an individual resident at Unit 1502, 15^th Floor, 99 Hennessy Road, Wanchai, Hong Kong.

On September 29, 2023, Mr. King acquired 87,366 units of the Issuer ("Units") through market purchases over the facilities of the Toronto Stock Exchange for $15.76 per Unit for an aggregate purchase price of $1,376,888.16 (the "Market Purchases").

Prior to the Market Purchases, Mr. King owned, directly and indirectly, 108,200 Units, representing 9.24% of the issued and outstanding Units on a non-diluted basis.  1000607082 Ontario Limited, a company owned and controlled by Mr. King, should be considered a joint actor, and holds 95,000 of these Units.

Following the Market Purchases, Mr. King and his joint actors owns, directly and indirectly, an aggregate of 195,566 Units, representing 16.70% of the outstanding Units, on both a diluted and non-diluted basis.

Mr. King acquired the Units for investment purposes and may in the future participate in financings and/or acquire or dispose of securities of the Issuer in the market, privately or otherwise, as circumstances or market conditions warrant.

A copy of the Early Warning Report with additional information in respect of the foregoing matters may be found on SEDAR at www.SEDAR.com.

SOURCE Theodore King

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