Semich Announces Intention to Commence Normal Course Issuer Bid

Karl is pleased to announce that he intends to commence a normal course issuer bid (the "NCIB"), under which it may purchase up to 8,003,535 common shares of the Company over a period of one year (the "NCIB Period"), representing approximately 5% of the Company's issued and outstanding common shares, with up to 3,201,414 common shares of the Company purchasable over any 30-day period within the NCIB Period, being 2% of the Company's issued and outstanding common shares. The NCIB is expected to commence on or about January 25, 2023, and will continue until the earlier of January 24, 2024, or the date by which the Company has acquired the maximum number of common shares which may be purchased under the NCIB.