The Company gives no assurance that it will be able to satisfy these conditions and consummate the proposed
Acquisition, Incremental Loan and the Mangrove Holding financing on these or any terms.
The Company continues to be actively engaged in identifying
alternative transactions to continue pursuing its strategic goals including raising additional funds through public or private equity, debt financing, and the completion of strategic acquisitions or divestitures.
About Birks Group Inc.
Birks Group is a leading designer
of fine jewellery and an operator of luxury jewellery, timepieces and gifts retail stores in Canada. The Company operates 18 stores under the Maison Birks brand in most major metropolitan markets in Canada, one retail location in Montreal under the
Birks brand, one retail location in Montreal under the TimeVallée brand, one retail location in Calgary under the Brinkhaus brand, one retail location in Vancouver operated under the Graff brand, one location in Vancouver under the Patek
Philippe brand, and three retail locations in Laval, Ottawa and Toronto under the Breitling brand. Birks was founded in 1879 and has become Canadas premier designer and retailer of fine jewellery, timepieces and gifts. Additional information
can be found on Birks web site, www.birks.com.
About SLR Credit Solutions
SLR Credit Solutions (f/k/a Crystal Financial), a portfolio company of SLR Investment Corp., is a leading provider of direct private credit focused on
originating, underwriting, and managing asset-based financings.
Forward Looking Statements
This press release contains forward-looking statements regarding, among other things: (i) the ability of the Company to consummate
modifications to its existing financing structure that will reduce the level of liquidity risk the Company has faced over the past several years and provide funding for investments necessary to further the Companys strategic initiatives; and
(ii) the timing of the execution of the definitive documentation giving effect to the acquisition contemplated by the Incremental Loan and the Acquisition. Forward looking statements can be identified, for example, by their use of words such
as: plans, expects, believes, will, anticipates, intends, projects, estimates, could, would, may, planned,
goal, and other words of similar meaning. All statements that address expectations, possibilities or projections about the future and all statements in this press release other than statements of historical fact are forward-looking
statements.