LONG PATH FILES EARLY WARNING REPORT IN RESPECT OF MDF COMMERCE INC.

STAMFORD, Conn., July 6, 2022 /CNW/ - Long Path Partners (the "Filer"), on behalf of Long Path Smaller Companies Fund, LP (the "LP Fund"),  announced today that it has filed an early warning report on Form 62-103F2 in respect of its beneficial ownership of, or control or direction over, common shares in the capital of mdf commerce inc. (the "Issuer"). This news release is being issued, and the early warning report has been filed, in connection with the Filer no longer intending to file alternative monthly reports pursuant to applicable Canadian securities laws.

The LP Fund is a fund managed by the Filer and may be considered to be a joint actor of Long Path. The Filer, on behalf of the LP Fund, exercises control or direction over an aggregate of 4,897,340 common shares of the Issuer, representing approximately 11.14% of the current issued and outstanding common shares.

The securities described herein were purchased for investment purposes only and not for the purpose of exercising control or direction over the Issuer. Consistent with its investment intent, depending on various factors, including, without limitation, the Filer's financial position and investment strategy, the price levels of the Issuer's common shares, conditions in the securities markets and general economic and industry conditions, the Filer may take such actions with respect to its investment in the Issuer as it deems appropriate, including, without limitation, engaging with members of the board of directors, engaging in discussions with, or solicitations to, shareholders of the Issuer or other third parties about the Issuer and Long Path's investment, including potential business combinations or dispositions involving the Issuer or certain of its businesses, making recommendations or proposals to the Issuer concerning changes to the capitalization, ownership structure, board structure (including board composition), or suggestions for improving the Issuer's financial and/or operational performance, purchasing additional common shares, selling some or all of their common shares, engaging in short selling of or any hedging or similar transaction with respect to the common shares, including swaps and other derivative instruments, or changing their intention with respect to the foregoing.

A copy of the early warning report is available under the Issuer's profile on the System for Electronic Document Analysis and Review (SEDAR) at www.sedar.com.

SOURCE Long Path Partners

or to obtain a copy of the early warning report, please contact JP Adams at [email protected]. The Filer's head office is located at 1 Landmark Square, Stamford, CT, USA 06901. The Issuer's head office is located at 1111 St-Charles Street West, East Tower, Suite 255, Longueuil, Québec J4K 5G4.