Pelecanus Investments Ltd. Announces Filing of Updated Early Warning Report

Vancouver, British Columbia--(Newsfile Corp. - January 31, 2025) - Pelecanus Investments Ltd. ("Pelecanus") announces that, on January 31, 2025, Pelecanus entered into a share purchase agreement with Kinderhook 2, L.P. (the "Vendor") pursuant to which the Pelecanus agreed to acquire 2,190,000 common shares (the "Common Shares") of BuildDirect.com Technologies Inc. ("BuildDirect") from the Vendor for an aggregate purchase price of $941,700 (the "Acquisition").

Immediately prior to the completion of the Acquisition, Pelecanus owned a total of 15,713,367 Common Shares and 209,052 common share purchase warrants of the Company (the "Warrants").

Immediately following the completion of the Acquisition, Pelecanus owns a total of 17,903,367 Common Shares, representing approximately 42.6% of the issued and outstanding Common Shares on a non-diluted basis, and assuming exercise in full of the Warrants, Pelecanus would own a total of 18,112,419 Common Shares, representing approximately 42.9% of the issued and outstanding Common Shares on a partially-diluted basis.

All of the securities held by Pelecanus in BuildDirect, including the Common Shares and the Warrants, are being held for investment purposes. Pelecanus may in the future take such actions in respect of its BuildDirect securityholdings as it deems appropriate in light of the market circumstances then existing, including the potential purchase of additional shares of Integra through open market purchases or privately negotiated transactions, a corporate transaction, such as a merger, reorganization or liquidation, involving BuildDirect, or the sale of all or a portion of such holdings in the open market or in privately negotiated transactions to one or more purchasers, or Pelecanus may continue to hold its current positions.

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