COLLINGWOOD, Ontario, March 01, 2023 (GLOBE NEWSWIRE) -- The Limestone Boat Company Limited (the "Company") (TSXV: BOAT |OTCQB: LMSBF) today announced that it intends to voluntarily terminate its listing services on the OTCQB Venture Market ("OTCQB") trading platform. The Company's common shares remain listed for trading on the TSX Venture Exchange. The Board of Directors of the Company have made this decision after considering a number of factors including the associated listing fee expenses and administrative burden required to comply with ongoing OTCQB listing requirements.

The Company intends to file further updates to the market once its delisting from the OTCQB platform is confirmed.

About The Limestone Boat Company Limited

The Limestone Boat Company Limited– owner and builder of Limestone^® Boats - is publicly traded on the TSX Venture Exchange under the ticker symbol "BOAT" and on the U.S.-based OTCQB^® Venture Market under the ticker symbol "LMSBF". They are headquartered in Collingwood, Ontario.

For more information, contact:

Bill Mitoulas | Investor Relations
800-720-2395
bill@limestoneboats.com
www.limestoneboatcompany.com

Scott Hanson | CEO of The Limestone Boat Company Limited
800-720-2395
info@limestoneboatcompany.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Information

Certain statements contained in this press release constitute forward-looking statements or forward-looking information (collectively, "forward-looking information"). These statements relate to future events or future performance. The use of any of the words “anticipate”, “believe”, “could” “should”, “would”, “estimate”, “expect”, “forecast”, “indicate”, “intend”, “likely, “may”, “plan”, “potential”, “project”, “outlook”, “seek”, “target”, “trend” or “will” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Forward-looking information in this press release include the delisting of the Company's common shares on the OTCQB platform.

The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. Such factors include, among others, risks related to the Company’s proposed business, such as failure of the business strategy; risks related to the Company’s operations, such as additional financing requirements and access to capital; reliance on key and qualified personnel, insurance, competition, intellectual property and reliable supply chains; risks related to the Company and its business generally as well as with respect to the proposed Credit Financing.

The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company’s forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. THERE CAN BE NO ASSURANCE THAT THE ACTUAL RESULTS OR DEVELOPMENTS WILL BE REALIZED OR, EVEN IF SUBSTANTIALLY REALIZED, WILL HAVE THE EXPECTED CONSEQUENCES TO, OR EFFECTS ON, THE COMPANY. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

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