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The Limestone Boat Company hits production targets

Significant increase in new boat production and shipments throughout 2022

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COLLINGWOOD, Ontario, Feb. 14 2022 (GLOBE NEWSWIRE) — The Limestone Boat Company (“Limestone“or the”Society”) (TSXV: BOAT) – Aquasport boat owner and builder, Limestone® Boats and Boca Bay Boats – is pleased to announce additional production unit accomplishments at its Tennessee-based boat manufacturing facility.

“Having now laid the foundation for the success of our manufacturing operations and support teams in Tennessee, 2022 is shaping up to be a transformative year for Limestone Boat Company,” said Limestone CEO Scott Hanson. “The monetization of Limestone’s dual backlog is underway, and we expect to significantly improve revenue and earnings in the coming months, given the continued growth we expect from weekly shipments as the year progresses. .”

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Limestone continues to improve its production numbers, posting its best month of production since its acquisition, with 15 units completed in January, despite some COVID-related labor and supply chain disruptions. New boats entering production each week are steadily increasing, with completion and shipments of 20 new units scheduled for February. Production and shipments are expected to continue to grow by half a boat per week and per month, subject to any unforeseen COVID or supply chain disruptions.

About Limestone Boat Company Limited
The Limestone Boat Company – owner and builder of Aquasport boats, Limestone® Boats and Boca Bay Boats – is listed on the Toronto Venture Exchange under the symbol BOAT. They have their headquarters in Collingwood, Ontario, and a 145,000 square foot manufacturing facility in White Bluff, Tennessee. The business is supported by a large skilled workforce and dealer partners across the United States and the Canadian Great Lakes region.

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For more information contact:
Bill Mitoulas | Investor Relations
800-720-2395
[email protected]
www.limestoneboatcompany.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

Caution Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “anticipate”, “believe”, “could”, “should”, “would”, “estimate”, “expect”, “expect”, “indicate”, “have intent”, “likely”, “may”, “plan”, “potential”, “project”, “outlook”, “seek”, “target”, “trend” or “will” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current beliefs or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The Company is subject to a number of risks relating to the integration and rollover transactions, some of which are more particularly described in the Company’s public documents available on SEDAR, including, without limitation, the Filing Statement filed by the Company on February 23, 2021. , and the management report. forward-looking information contained in this release is made as of the date hereof, and the parties undertake no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by securities laws. Due to the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

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Many factors could cause actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements. Any forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained in this press release. There can be no assurance that actual results or developments will materialize or, even if substantially materialized, will have the expected consequences or effects on the Company. Except as required by applicable securities laws, the Company neither intends nor undertakes any obligation to update these forward-looking statements.

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