DYE & DURHAM COMMENCING ACTION AGAINST PLANTRO LTD. AND MATTHEW PROUD TO ENFORCE THE TERMS OF THE COOPERATION AGREEMENT TO PROTECT INTEGRITY OF STRATEGIC REVIEW PROCESS

Executive Summary

• Dye & Durham Limited is initiating legal proceedings in the Ontario Superior Court to enforce its July 29 2025 Cooperation Agreement with Plantro Ltd. and Matthew Proud.
• The Company seeks a declaration that the agreement remains valid and injunctive relief to prevent further breaches, supporting its ongoing strategic review process.
• The Strategic Committee, advised by CIBC Capital Markets (financial) and Osler, Hoskin & Harcourt LLP (legal), continues evaluating strategic alternatives with a deadline of December 29 2025 to receive initial written proposals.

Key Details

• Action Initiated: Commencement of an Action in the Ontario Superior Court of Justice (Commercial List) against Plantro Ltd. and Matthew Proud.
• Relief Sought:
• Declaration that the Cooperation Agreement remains fully valid and enforceable.
• Injunctive relief prohibiting Plantro and Mr. Proud from breaching the agreement’s standstill restrictions.
• Cooperation Agreement Background: Executed on July 29 2025; includes standstill provisions tied to the Company’s strategic review.
• Strategic Review Status (as of Oct 8 2025):
• Strategic Committee established per the Cooperation Agreement, actively evaluating alternatives with advisors.
• Deadline for the Committee to commence a process seeking initial written proposals is December 29 2025.
• Advisors Engaged:
• Financial Advisor – CIBC Capital Markets.
• Legal Advisor – Osler, Hoskin & Harcourt LLP.
• Implications: Enforcement action aims to preserve the integrity of the strategic review and protect shareholder value by ensuring all parties adhere to agreed standstill terms.

Notable Quotes

(No direct quotes were provided in the release.)