In connection with the receipt of the Final Alberta Mortgage Payment, the board of directors of Standard Mercantile Acquisition Corp. (the Company) has declared a special distribution of $0.40 per Class A share of the Company (the "Special Distribution"). The Special Distribution, which constitutes a return of capital pursuant to the winding-up of the Company's business as approved by shareholders of the Company on June 16, 2016, as amended on May 6, 2021 (the "Orderly Wind-Up"), will be paid on August 17, 2023 to holders of Class A shares of record at the close of business on August 4, 2023.