Early Warning Press Release EdgePoint Announces Completion of Acquisition of Common Shares and Warrants of Terago

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TORONTO, Oct. 22, 2025 (GLOBE NEWSWIRE) -- TeraGo Inc. (“TeraGo” or the “Issuer”) (TSX:TGO): This press release is being disseminated by EdgePoint Investment Group Inc. (“EdgePoint”) and Cymbria Corporation (“Cymbria”, and collectively with EdgePoint, the “Acquiror”), an account managed by EdgePoint, to announce the completion of the previously announced:

• acquisition by Cymbria of 4,761,904 common shares of the Issuer (“Shares”) pursuant to a rights offering undertaken by the Issuer (the “Rights Offering”); and
• acquisition by Cymbria of common share purchase warrants of the Issuer (“Warrants”) to acquire an aggregate of 1,603,377 Shares in connection with the refinancing of the secured credit facility (the “Credit Facility”) of Terago Networks Inc. (“Terago Networks”), a subsidiary of the Issuer, pursuant to an amended and restated credit and guarantee agreement entered into by, among others, EdgePoint, Terago Networks and the Issuer (the “New Credit Agreement”). Each such Warrant entitles the holder thereof to subscribe for and purchase one Share at a price per Share of $0.84 at any time prior to 5:00 P.M. (EST) prior to October 21, 2030.
  
  

The Shares acquired by Cymbria pursuant to the Rights Offering were acquired at a price per Share of $0.84 for total consideration of $3,999,999.36.

The Warrants issued to Cymbria pursuant to the New Credit Agreement were issued by TeraGo in connection with the refinancing of the Credit Facility, which refinancing was funded by Cymbria and the other lenders under the New Credit Agreement.  

Immediately prior to the completion of the Rights Offering and the transactions contemplated by the New Credit Agreement, EdgePoint had control over, and Cymbria had ownership of, 4,706,715 Shares and Warrants to acquire 854,100 Shares (representing, following the exercise in full of such Warrants, approximately 26.6% of TeraGo’s outstanding Shares as at such time).

Upon the completion of the Rights Offering and the transactions contemplated by the New Credit Agreement, EdgePoint has control over, and Cymbria has beneficial ownership of, 9,468,619 Shares and Warrants to acquire 2,457,477 Shares (representing, following the exercise in full of such Warrants, approximately 28.77% of TeraGo’s outstanding Shares).

The acquisitions of securities of the Issuer described herein were made in the ordinary course of business and for investment purposes. EdgePoint may acquire or dispose of ownership or control or direction over securities of the Issuer or may enter into derivative or other transactions with respect to such securities on behalf of accounts it manages. Cymbria may acquire or dispose of ownership or control or direction over additional securities of the Issuer or may enter into derivative or other transactions with respect to such securities. Any acquisition or disposition may be effected through market transactions, private agreements, subscriptions from treasury or otherwise.

An early warning report will be filed by the Acquiror under applicable securities laws and will be available on the Issuer's SEDAR+ profile at www.sedarplus.ca. A copy of the early warning report may also be obtained by contacting Sayuri Childs, Chief Compliance Officer of EdgePoint, at (416) 963-9353. EdgePoint’s head office is located at 150 Bloor St. West, Suite 700, Toronto, Ontario, M5S 2X9. The Issuer’s head office is located at 55 Commerce Valley Drive West, Suite 800, Thornhill, Ontario, L3T 7V9.

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