Cannell Capital, LLC Announces Filing of Early Warning Report

Alta, Wyoming–(Newsfile Corp. – January 26, 2023) – Cannell Capital, LLC (“Cannell“), a Wyoming limited liability company, in its capacity as investment adviser for Tonga Partners, L.P. (“Tonga“), Tristan Partners, L.P. (“Tristan“), and Tristan Offshore Fund, Ltd. (“Tristan Offshore“) (collectively, the “Funds“) announced today that on January 24, 2023 the Funds acquired an aggregate of 800,317 shares of McCoy Global Inc. (“McCoy“) (TSX: MCB), representing approximately 2.8% of the issued and outstanding voting securities of McCoy (being the common shares of McCoy (the “McCoy Shares“)). The 800,317 McCoy Shares were acquired at a price of US$0.77 per share, being C$1.03 per share, for aggregate gross proceeds of C$824,326.51 based on the daily average exchange rate for US dollars to Canadian dollars published by the Bank of Canada on January 24, 2023.

As a result of this acquisition, Cannell, through the Funds, exercises control or direction over an aggregate of 4,638,165 McCoy Shares, representing approximately 16.3% of the issued and outstanding McCoy Shares as of January 25, 2023. Prior to this acquisition, Cannell, through the Funds, exercised control or direction over an aggregate of 3,837,848 McCoy Shares, representing approximately 13.5% of the issued and outstanding McCoy Shares at that time.

Cannell acquired the McCoy Shares through the facilities of the Toronto Stock Exchange, in the ordinary course of business, for investment purposes only through open market purchases. Cannell may, from time to time, on its own behalf or on behalf of the Funds or other client accounts acquire additional securities, dispose of some or all of the currently held or additional securities or may continue to hold the securities of McCoy.

McCoy’s head office is located at 9618 – 42 Ave, NW Suite 301 Edmonton, AB T6E 5Y4 Canada.

An early warning report relating to these transactions will be filed on the System for Electronic Document Analysis and Review (“SEDAR“) under McCoy’s profile and can be viewed at www.sedar.com.

Cannell previously filed its first early warning report for shares of McCoy on February 24, 2020. This filing was promulgated via press release and was also filed on SEDAR.

For further information or to obtain a copy of the early warning report, please contact:

Stephen C. Wagstaff
Chief Financial Officer
Cannell Capital, LLC
245 Meriwether Circle
Alta, WY 83414
Tel: 307-733-2284
Fax: 307-264-0600
Email: scw@cannellcap.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/152639