CEO.CA Chairman's Briefing

WINNIPEG, MB / ACCESSWIRE / October 5, 2023 / FP NEWSPAPERS INC. (TSXV:FP) ("FPI") announces today that its President & CEO, Michael Power, will be leaving his position effective November 10, 2023, to return to Ontario where he has accepted another leadership role.

The Board of Directors is commencing a search for a new President, and during the interim period, Darren Murphy, a seasoned newspaper executive, has been appointed as interim Chief Executive Officer and will lead the day-to-day operations of FPI.

In commenting on these developments, Board Chair Robert Silver stated, "We thank Mr. Power for his service, and also welcome Mr. Murphy, who has the full support of our board during the leadership transition process".

About FPI
FPI owns securities entitling it to 49% of the distributable cash flow of FPLP. FPLP owns and operates the Winnipeg Free Press, along with several other Manitoba-based news and media publications that are available in both print and digital formats. The informative and engaging content we produce has an extensive reach throughout the province of Manitoba. The breadth of our reach provides compelling platforms for those looking to effectively reach a Manitoba audience. Further information can be found at www.fpnewspapers.com and in disclosure documents filed by FP Newspapers Inc. with the securities regulatory authorities, available at www.sedarplus.ca.

For further information, please contact:
Dave Kreklewetz, CFO
FP NEWSPAPERS INC.
Phone: 204-771-1897

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

Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release constitute "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws and are based on assumptions, expectations, estimates and projections as of the date of this press release. Forward-looking statements in this press release include statements with respect to, among others, the ability of FPI to identify and retain a new Chief Executive Officer. Forward-looking statements contained in this press release are given as of the date hereof and are based on various assumptions and factors. By their nature, forward-looking statements are subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. There can be no assurance that forward-looking statements will prove to be accurate. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. FPI disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law. All of the forward-looking statements contained in this press release are qualified by these cautionary statements.

SOURCE: FP Newspapers Inc.