Russell Industries Provides Update in Respect of Synex International

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VANCOUVER, British Columbia, Nov. 01, 2018 — Russell Industries Corp. (“Russell Industries”), a private company wholly-owned by Daniel J. Russell (“Russell”), announces today that Russell Industries intends to sell 240,300 common shares (“Common Shares”) in the capital of Synex International Inc. (“Synex”) through the facilities of the Toronto Stock Exchange (“TSX”) as soon as practicable and that Russell intends to sell 491,000 Common Shares through the facilities of the TSX as soon as practicable.

Russell Industries further announces that in connection with the annual general meeting of the shareholders of Synex scheduled to take place on November 2, 2018 (the “AGM”), Russell intends to effect a change in the board of directors and management of Synex. Such change will be effected by Russell voting at the AGM all Common Shares held by him personally, as well as all Common Shares for which he has been appointed proxyholder, in favour of an alternative slate of director nominees which will be presented at the AGM. Russell is entitled to vote an aggregate of 19,760,998 Common Shares at the AGM, personally or as proxyholder, which represents approximately 51.36% of the Common Shares entitled to vote at the AGM.

Synex’s head office is located at 400 – 1444 Alberni Street, Vancouver, British Columbia, Canada, V6G 2Z4. For inquiries or a copy of the related early warning report required under Canadian provincial securities legislation, a copy of which has also been filed on www.sedar.com, please contact: Russell Industries Corp. Contact person: Daniel J. Russell 4248 Broughton Avenue Niagara Falls, ON L2E 3K6 Telephone: 905-646-7545