Caldwell Announces Lease Termination Gain of CAD $9.1 Million

TORONTO, ON / ACCESSWIRE / December 1, 2023 / Talent acquisition firm The Caldwell Partners International Inc. (TSX:CWL)(OTCQX:CWLPF) today announced it has successfully negotiated a full termination of its leased facilities for IQTalent in Nashville, TN.

As disclosed in the Company's financials for the year ended August 31, 2023, a lease impairment charge of $8.1 million was recognized as a result of the decision to sublease a portion of the leased space in Nashville and reflecting market conditions at the time. This successful and penalty-free termination of the lease will result in a lease modification gain in the Company's first quarter results of approximately $9.1 million. The lease will terminate without conditions on February 29, 2024.

"I'm very pleased that we were able to obtain this favourable outcome," said John Wallace, chief executive officer. "Eliminating $9.1 million of future payment obligations is a significant lift to our business, improving our operational outlook and further enhancing our strong financial position."

About Caldwell Partners

Caldwell Partners is a technology-powered talent acquisition firm specializing in recruitment at all levels. Through two distinct brands - Caldwell and IQTalent - the firm leverages the latest innovations in AI to offer an integrated spectrum of services delivered by teams with deep knowledge in their respective areas. Services include candidate research and sourcing through to full recruitment at the professional, executive and board levels, as well as a suite of talent strategy and assessment tools that can help clients hire the right people, then manage and inspire them to achieve maximum business results.

Caldwell Partners' common shares are listed on The Toronto Stock Exchange (TSX: CWL) and trade on the OTCQX Market (OTCQX: CWLPF). Please visit our website at www.caldwell.com for further information.

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