iolite Capital Management Ltd. (“iolite”), a selective investment management firm serving private and institutional clients, is pleased to announce a significant holding in Dynacor Group (TSX: DNG, “Dynacor”), representing 10% of the company’s outstanding common shares.

In celebrating this milestone, Robert Leitz, Managing Director of iolite, noted, “Dynacor has a pioneering role in ethical gold sourcing and processing. I am supportive of the company’s strategic focus on expanding production capabilities and diversifying its asset portfolio, and I look forward to iolite’s long and prosperous partnership with Dynacor.”

About Dynacor

Dynacor is a highly reputable and industry-leading ethical gold sourcing and processing business headquartered in Montreal, Canada. The company plays a pioneering role in establishing legal and environmental standards in the largely unregulated artisanal small-scale mining (ASM) sector, which accounts for 25% of the world’s gold supply. Dynacor prides itself on the traceability and purity of its gold, reflecting its values of honesty, transparency, and respect for its workers.

The company stands out for its commitment to environmental and social responsibility through its PX IMPACT® gold program. A growing number of supportive firms from the luxury jewelry, watchmaker and investment sectors pay a small premium to the company for this PX IMPACT® gold. The premium provides direct investment to develop health and education projects in artisanal mining communities, primarily via the associated FIDAMAR Foundation.

About iolite Capital

iolite Capital is a Switzerland-based investment manager with a focus on hidden champions: good businesses at attractive valuations. iolite Capital serves a select circle of private and institutional clients who share the same entrepreneurial mindset, are willing to invest for the long-term, and who would like to have first-hand access to a dedicated portfolio manager with substantial skin in the game.

Regulatory Information

iolite Partners Ltd. (the “Acquiror”), a fund managed by iolite, announces that it has acquired an aggregate of 90,700 common shares of Dynacor on the market, on April 12, 2024, at an average price of C$5.05 per common share for an aggregate purchase price of C$457,749.00 (the “Transaction”).

Immediately prior to the Transaction, the Acquiror held 3,569,300 common shares, representing approximately 9.8% of the issued and outstanding common shares of the Corporation.

Immediately following the Transaction, the Acquiror owns, has beneficial ownership of, or has control and direction over 3,660,000 common shares, representing approximately 10.0% of the issued and outstanding common shares.

The Acquiror acquired the common shares for investment purposes and may increase or reduce its investment in the Corporation according to market conditions or other relevant factors. Neither the Acquiror nor any persons acting jointly or in concert with the Acquiror currently has any plans or intentions that relate to the acquisition or disposition of securities of the Corporation.

This news release is being disseminated as required by National Instrument 62-103 – The Early Warning System and Related Take-Over Bids and Insider Reporting Issues in connection with the filing of an early warning report (the “Early Warning Report”).

A copy of the Early Warning Report is available on SEDAR under the Corporation's issuer profile at www.sedar.com or by contacting www.iolitecapital.com.

For more information, please contact:

iolite Capital Managment Ltd. Gwattstrasse 15 8808 Pfaffikon SZ Switzerland

+41 79 227 29 08 press@iolitecapital.com

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