SALTIRE CAPITAL LTD. ANNOUNCES ACQUISITION OF INDIRECT STAKE IN ANTHEM GP LTD., A LEADING PLATFORM IN THE NORTH AMERICAN DEATHCARE SERVICES INDUSTRY

Canada NewsWire

TORONTO, Dec. 2, 2024

All amounts expressed in United States dollars (US$) unless otherwise noted

TORONTO, Dec. 2, 2024 /CNW/ - Saltire Capital Ltd (TSX: SLT.U, SLT.WT.U) ("Saltire" or the "Corporation"), is pleased to announce it has acquired an indirect stake in Anthem GP Ltd. ("Anthem") through the acquisition of a secured demand grid promissory note (the "Note") issued by The Fox Hat Equities Ltd. ("Fox Hat") from Pioneer Garage Limited ("PGL"), which Note is exchangeable for 975,000 Class A preferred shares (the "Anthem Shares") in the capital of Anthem GP Ltd. ("Anthem"). As consideration for the Note, Saltire issued 487,000 common shares of Saltire to PGL.

On settlement of the Note for the Anthem Shares, Saltire will own approximately 7.6% of the issued and outstanding shares of Anthem.

"We are thrilled to announce the acquisition of shares in Anthem and we look forward to continuing to support this business going forward", said Larry G. Swets, Executive Chairman of Saltire. "Anthem's current size and footprint make it an attractive business from which to expand Saltire's presence in this highly attractive sector."

Fox Hat, the borrower under the Note, is controlled by Andrew Clark and Robert Clark, directors of Saltire. The acquisition of the indirect stake in Anthem was approved by Saltire's investment committee and board of directors (other than Andrew Clark and Robert Clark, who declared an interest in the transaction and abstained from voting in respect thereof) and is exempt from the valuation and minority approval requirements under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions, as, among other factors, the transaction is supported by FGAC Investors LLC, a non-interested control person of Saltire.

About Anthem

Anthem is a privately owned, leading operator of cemeteries, crematories and funeral homes in North America. Founded in 2021, Anthem has grown to over 80 locations in 7 states and three Canadian provinces. Headquartered in Frisco, Texas. Anthem is led by a strong and experienced operating team with decades of industry experience.

About Saltire

Saltire is a long-term capital partner that allocates capital to equity, debt and/or hybrid securities of high-quality private companies. Investments made by Saltire consist of meaningful and influential stakes in carefully selected private companies that the Manager believes are under-valued businesses with high barriers to entry, predictable revenue streams and cash flows and defensive characteristics, with a view to significantly improve the fundamental value over the long-term. Although Saltire primarily allocate capital to private companies, Saltire may, in certain circumstances if the opportunity arises, also pursue opportunities with orphaned or value challenged small and micro-cap public companies. Saltire provides investors with access to private and control-level investments typically reserved for larger players, while maintaining liquidity.

Forward-Looking Statements

This press release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Saltire. All statements included herein, other than statements of historical fact, may be considered forward-looking information and such information involves various risks and uncertainties, including those described under the heading "Risk Factors" in Saltire's final long-form prospectus dated August 2, 2024, which is available for viewing on Saltire's SEDAR+ profile at www.sedarplus.ca. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Any forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, Saltire does not assume any obligation to update or revise them to reflect new events or circumstances.

www.saltirecapitalltd.com

SOURCE Saltire Capital Ltd.

View original content: http://www.newswire.ca/en/releases/archive/December2024/02/c3231.html

/CONTACT:

FOR FURTHER INFORMATION PLEASE CONTACT: Andrew Clark, Chief Executive Officer, Saltire Capital Limited, 416-419-9405, aclark@saltireholdingsltd.com

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December 02, 2024 07:00 ET (12:00 GMT)