G2S2 CAPITAL INC. ANNOUNCES INCREASED INVESTMENT IN CLARKE INC.

HALIFAX, NS, April 20, 2023 /CNW/ - G2S2 Capital Inc. ("G2S2"), announces that it has acquired ownership of, and control over, an additional 46,300 common shares of Clarke Inc. ("Clarke"), representing 0.33% of the outstanding common shares of Clarke ("Common Shares"). G2S2 acquired the Common Shares on April 20, 2023, through the facilities of the Toronto Stock Exchange at a price of $12.05 per share (the "Acquisition").

Prior to the Acquisition, G2S2 owned and exercised control over an aggregate of 10,457,101 Common Shares and $13,404,400 principal amount of Clarke Series B Convertible Debentures ("Convertible Debentures") which, if converted, would entitle G2S2 to an additional 975,572 Common Shares, representing a securityholding percentage of 76.30% (assuming conversion of the Convertible Debentures held by G2S2).  Immediately after the Acquisition, G2S2 owns and exercises control over 10,503,401 Common Shares and $13,404,400 principal amount of Convertible Debentures, representing a securityholding percentage of 76.61% in the Common Shares (assuming conversion of the Convertible Debentures held by G2S2).

The Common Shares were purchased for investment purposes. G2S2, may, from time to time, acquire additional Common Shares or Convertible Debentures, or dispose of some or all of their current or additional Common Shares or Convertible Debentures, in the normal course of their investment activities.

In making the Acquisition, G2S2 relied on the exemption from the requirements in securities legislation applicable to formal bids in Section 4.1 of National Instrument 62-104 Take-Over Bids and Issuer Bids.

G2S2 has filed an early warning report relating to this press release on the System for Electronic Document Analysis and Review (SEDAR) at www.sedar.com under Clarke's issuer profile.

About G2S2

G2S2 Capital Inc. is a privately held investment holding company focused on creating value across a variety of businesses with a long term horizon. G2S2 is incorporated under the laws of Canada. G2S2 is controlled by George & Simé Armoyan.

SOURCE G2S2 Capital Inc.

For further information or to obtain a copy of the early warning report, please contact George Armoyan, Executive Chairman of G2S2 at 416-855-1922.