WINNIPEG, MB / ACCESSWIRE / May 18, 2023 / FP Newspapers Inc. ("FPI" or the "Company") announces that the Company has determined to postpone its annual meeting of holders of common shares of the Company (the "Shareholders") which was scheduled to be held on May 31, 2023 at 11:00 a.m. (Central Standard Time). The Shareholder meeting will now be held on Friday, June 16th, 2023 at 11:00 a.m. (Central Standard Time) and, as discussed below, is now considered an annual and special meeting of the Shareholders.

The Company is postponing the meeting as management of the Company is proposing that the Shareholders approve an additional special resolution at the meeting authorizing and approving an amendment to the Articles of the Company to increase the maximum number of directors from six (6) to eight (8), and the Company requires additional time to deliver the Amended Meeting Materials (as defined below) to Shareholders in accordance with applicable laws.

The Company intends to mail to Shareholders an amended notice of meeting with respect to the postponed meeting, an addendum to the management information circular of the Company dated April 19, 2023 and an amended form of proxy for voting at the postponed meeting (the "Amended Meeting Materials"), copies of which will also be posted on the Company's SEDAR profile at .

About FPI

FPI owns securities entitling it to 49% of the distributable cash of FP Canadian Newspapers Limited Partnership ("FPLP"). FPLP owns the Winnipeg Free Press, the Brandon Sun, and their related businesses, as well as the Canstar Community News division, the publisher of six community newspapers in the Winnipeg region, and The Carillon in Steinbach with its related commercial printing operations. The businesses employ 364 full-time equivalent people in Winnipeg, Brandon, and Steinbach Manitoba. Further information can be found at and in disclosure documents filed by FPI with the securities regulatory authorities, available at .

For further information please contact:

Mike Power, President and CEO
FP Newspapers Inc.
Phone 204-697-7547

Neither the TSX Venture Exchange Inc. nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.

Caution Regarding Forward-Looking Statements

Certain statements in this news release may constitute forward-looking statements within the meaning of applicable securities laws. All statements other than statements of historical fact are forward-looking statements. These statements include but are not limited to statements regarding management's intent, belief or current expectations with respect to market and general economic conditions, future costs and operating performance. Generally, but not always, forward-looking statements will be indicated by words such as "may", "will", "intend", "anticipate", "expect", "believe", "plan", "forecast", "expects" or similar terminology. Forward-looking statements are subject to known and unknown risks and uncertainties that may cause the actual results, performance or achievements of FPI, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Certain risks and uncertainties are discussed in FPI's management's discussion and analysis for the year ended December 31, 2022 available on SEDAR at . In addition, although the forward-looking statements contained in this news release are based upon assumptions that management of FPI believe to be reasonable, such assumptions may prove to be incorrect. Forward-looking statements speak only as of the date hereof and, except as required by law, FPI assumes no obligation to update or revise them to reflect new events or circumstances. Because forward-looking statements are inherently uncertain, readers should not place undue reliance on them.

SOURCE: FP Newspapers Inc.