ADSL Completes Return of Capital Distribution

Vancouver, British Columbia–(Newsfile Corp. – December 27, 2024) – ADSL Holdings Inc. (Cboe CA: ADSL) (FSE: 25YO) (OTC: AMNNF) (“ADSL” or the “Company“) announces that, further to the Company’s news release dated December 18, 2024 the Company has completed the first distribution pursuant to its previously announced return of capital in the aggregate amount of $3,901,140.47 or approximately $0.053 per common share (the “First Distribution“). Only shareholders of record as of the close of business on December 19, 2024 (Vancouver time) (the “Record Date“) will receive a payment in respect of the First Distribution.

Shareholders do not need to take any action with respect to the First Distribution. Payment will automatically be delivered to eligible shareholders of record as of the Record Date.

About ADSL Holdings Inc.

For further information about ADSL, see its disclosure documents on SEDAR+ at www.sedarplus.com.

Forward-Looking Statements

This news release includes “forward-looking information” and “forward-looking statements” as such terms are defined under applicable Canadian securities legislation. Forward‐looking information and statements include disclosure regarding possible events, that are based on assumptions about future economic conditions and courses of action, and, in certain cases, can be identified by the use of words such as “potential”, “propose”, “aim”, “depend”, “seeks”, “plans”, “expects”, “is expected”, “intends”, “anticipates”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “can”, “could”, “should”, “shall”, “would”, “might” or “will”, or the negative forms of any of these words and other similar expressions. Forward-looking statements in this news release include statements related to the timing and receipt of payment in connection with the First Distribution. Forward‐looking information and statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward‐looking information and statements. Such factors include, but are not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets. Actual results and future events could differ materially from those anticipated in such forward looking information. Accordingly, readers should not place undue reliance on forward‐looking information. All forward-looking information in this news release is made as of the date hereof and qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at www.sedarplus.com. The Company disclaims any intention or obligation to update or revise such forward‐looking information, whether as a result of new information, future events or otherwise, except as required by law.

Investors are cautioned that, trading in the securities of the Company should be considered highly speculative. For a more detailed discussion of such risks and uncertainties, please see the section entitled “Risk Factors” in the Company’s annual information form dated June 2, 2024, and available under the Company’s profile on SEDAR+ at http://www.sedarplus.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235333