Kingsferry Capital Management Group Limited Files Early Warning Report Issued Pursuant to National Instrument 62-103

TORTOLA, British Virgin Islands, Sept. 27, 2023 /CNW/ - Kingsferry Capital Management Group Limited ("Kingsferry") announces that it has sold, on behalf of Kingsferry Classic Value Fund I Ltd., 326,000 common shares ("Common Shares") of Payfare Inc. ("Payfare"), representing an approximate 0.68% reduction in the percentage of Common Shares over which Kingferry has control or direction. On September 26, 2023, the Common Shares were sold through the facilities of the Toronto Stock Exchange at an average price of C$5.3161 per Common Share, for gross proceeds of C$1,733,049.

Immediately prior to the disposition of the Common Shares described above, Kingsferry had control and direction over a total of 4,768,600 Common Shares, representing approximately 9.99% of the issued and outstanding Common Shares. As a result of the disposition, Kingsferry exercises control and direction over 4,442,600 Common Shares, which represents approximately 9.31% of the issued and outstanding Common Shares.

Depending on market and other conditions, Kingsferry may from time to time in the future increase or decrease its direct or indirect ownership, control or direction over Common Shares or other securities of Payfare through market transactions, private agreements, subscriptions from treasury or otherwise.

Payfare's head office address is 550 Burrard St #2300, Vancouver, BC V6C 2B5.

For further information, including a copy of the corresponding report filed with Canadian securities regulators, please visit www.sedar.com or contact:

Hugo Chan, Chief Investment Officer
[phone]
Kingsferry Capital Management Group Limited 
3076 Sir Francis Drake's Highway
Road Town, Tortola
British Virgin Islands

SOURCE Kingsferry Capital Management Group Limited