RECIPE UNLIMITED ANNOUNCES RECEIPT OF INTERIM ORDER AND FILING OF SPECIAL MEETING MATERIALS IN RESPECT OF ARRANGEMENT WITH FAIRFAX

TORONTO, Sept. 26, 2022 /CNW/ - Recipe Unlimited Corporation ("Recipe" or the "Company") (TSX:RECP.TO) announced today that it has filed and is in the process of mailing the management information circular (the "Circular") and related materials in connection with the special meeting (the "Meeting") of its shareholders (the "Shareholders") to be held virtually on October 21, 2022. The Meeting has been called for the Shareholders to consider and, if deemed advisable, to pass a special resolution (the "Arrangement Resolution") approving a previously announced statutory plan of arrangement involving the Company and 1000297337 Ontario Inc. (the "Purchaser"), a newly-formed subsidiary of Fairfax Financial Holdings Limited ("FFHL"), pursuant to which the Purchaser will acquire all of the issued and outstanding multiple voting shares ("MVS") and subordinate voting shares ("SVS", and together with "MVS", the "Shares") in the capital of the Company (other than those Shares owned by FFHL and its affiliates (collectively, "Fairfax") and 9,398,729 MVS owned by Cara Holdings Limited ("CHL", and together with Fairfax, the "Buying Group")) at a price of $20.73 in cash per Share (the "Consideration"), subject to the terms and conditions of the arrangement agreement dated August 31, 2022 (the "Arrangement Agreement") among the Company, the Purchaser and FFHL (the "Arrangement").