Amcomri Entertainment Announces Extension to Existing Credit Facilities - Seite 2

The terms of the amendments were settled through arm’s length negotiations between the Chief Financial Officer of the Company and Oranmore Limited. The amendments were subsequently considered and unanimously recommended to the Company’s board of directors by the independent members of the Company’s board of directors, having regard to, among other things, the impact of the transactions on the Company’s balance sheet, liquidity and overall stability, and, upon such recommendation, the board of directors unanimously approved the transaction with Paul McGowan declaring his interest and recusing himself from any deliberations or voting on the transactions.

The Company did not file a material change report 21 days in advance of implementing the transactions as the negotiations were only recently concluded.

Forward-Looking Statements

This press release contains statements which constitute “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking statements”), including the Company’s intent to draw-down and re-pay the credit facilities and with respect to future business activities concerning the credit facilities. Forward-looking statements are often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions.

Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect the Company’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; the risks and uncertainties associated with foreign markets; and those risks and uncertainties that are described in the section entitled “Risk Factors” in the Company’s annual information form dated April 14, 2023, and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. These forward-looking statements may be affected by risks and uncertainties in the business of the Company and general market conditions.