TORONTO, May 13, 2026 /CNW/ - Kernwood Limited ("Kernwood") reports pursuant to the Early Warning Requirements of Canadian securities laws that it purchased 120,000 common shares ("Shares") in the capital of Richards Group Inc. on May 13, 2026 in normal course transactions on the Toronto Stock Exchange, with the result that Kernwood, together with its shareholders, own 1,165,800 Shares, representing approximately 10.9485% of the total outstanding Shares. The 120,000 Shares were purchased at an average of $27.7687 per Share, for an aggregate of $3,332,244.00.

Kernwood is a private holding company that invests in securities of private and public companies.

The acquisition of Shares by Kernwood was undertaken for investment purposes. Kernwood does not have any current plans or future intentions to buy or sell further Shares, to solicit proxies or to otherwise participate in any significant transaction involving Richards Group Inc. Kernwood intends to review its investment on a continuing basis. Depending on various factors, Kernwood may in the future purchase or sell securities or engage in other activities relating to Richards Group Inc.

Kernwood's head office is located at 155 University Avenue, Suite 750, Toronto, Ontario M5H 3B7.  

Kernwood will be filing an Early Warning Report under Richards Group Inc.'s profile on SEDAR+ and copies of the report may be obtained at www.sedarplus.ca or from Kernwood by contacting Edward Kernaghan at (416) 502-2074.

SOURCE Kernwood Limited