PADLOCK PARTNERS UK FUND IV FORMS DEALER SYNDICATE AND FILES AMENDED AND RESTATED PRELIMINARY PROSPECTUS IN RESPECT OF ITS MAXIMUM C$60 MILLION INITIAL PUBLIC OFFERING

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TORONTO, May 10, 2023 /CNW/ - Padlock Partners UK Fund IV (the "Trust") announced today that it has formed a syndicate of agents, led by CIBC World Markets Inc. and including Richardson Wealth Limited, Wellington-Altus Private Wealth Inc., Canaccord Genuity Corp., Raymond James Ltd. and iA Private Wealth Inc. (collectively, the "Agents"), and has filed with the securities commissions or similar authorities in each of the provinces and territories of Canada, and obtained a receipt for, an amended and restated preliminary prospectus amending and restating the preliminary prospectus of the Trust dated May 1, 2023, for its initial public offering of trust units (the "Offering"). The amended and restated preliminary prospectus qualifies the distribution of a minimum of C$35 million and a maximum of C$60 million of Class A Units, Class F Units, Class C Units and/or Class U Units of the Trust at a price of C$10.00 per Class A Unit, Class F Unit and Class C Unit and £10.00 per Class U Unit.