Disposition of Common Shares of EcoSynthetix Inc.

TORONTO, June 05, 2020 (GLOBE NEWSWIRE) -- 1614216 Ontario Inc., a corporation wholly owned by Lions Investment Ltd. ("Lions"), disposed of 109,100 common shares of EcoSynthetix Inc. (the "Company") on May 13, 2020 at a price of $1.94 per common share and disposed of 75,900 common shares of the issuer on May 26, 2020 at a price of $1.95 per common share through market transactions. The disposition of 131,000 common shares of the Company previously reported in a press release and early warning report filed by Lions on September 11, 2019 was cancelled, and the trade did not settle.

Immediately prior to the disposition of an aggregate of 185,000 common shares of the Company in May 2020, Lions, together with any joint actor, beneficially owned or exercised control or direction over, directly or indirectly, 10,581,151 common shares of the Company, representing approximately 18.53% of the issued and outstanding common shares of the Company. Immediately following the transactions, Lions, together with any joint actor, beneficially owned or exercised control or direction over, directly or indirectly, 10,396,151 common shares of the Company, representing approximately 18.21% of the issued and outstanding common shares of the Company.

As a result of the subsequent cancellation of 297,000 common shares by the Company pursuant to its normal course issuer bid, as reported on the System for Electronic Disclosure by Insiders, Lions, together with any joint actor, currently beneficially owns or exercises control or direction over, directly or indirectly, 10,396,151 common shares of the Company, representing approximately 18.30% of the issued and outstanding shares of the Company.

The common shares of the Company are held for investment purposes. Lions and any joint actor may increase or decrease its investment, directly or indirectly, in securities of the Company from time to time, depending on the trading price of the common shares, market conditions or any other relevant factors.

A copy of the related early warning report may be found on the Company's profile at www.sedar.com or may be obtained from Andrew Needham, Director, Lions Investment Ltd. at 1.345.815.8547 or Elgin Court, Elgin Avenue, PO Box 448, George Town, Grand Cayman,  KY1-1106, Cayman Islands.