Acquisition of Majority Equity Stake in i-Fitness Centre Limited by Kanuri FIT Limited

I-Fitness Centre Limited ("I-Fitness" or the "Company") aims to be firmly established as the leader in the fitness and wellness industry in key locations in subSaharan Africa. As part of its strategic plans to deepen its presence in Nigeria, optimize operations and expand regionally across West Africa, the Company is seeking to raise growth capital. I-Fitness is a high growth platform supported by robust growth potential, a strong competitive position, and an operator with a strong track record. At the same time, its largest shareholder, Cardinal Stone Capital Advisers Growth LP ("Cardinal Stone") which currently holds a 65% stake in the Company, is seeking to divest its entire equity stake to an investor- Kanuri FIT Limited ("Kanuri FIT"). Kanuri FIT Limited is a private company limited by shares and the liability of its shareholders with capacity to carry on lawful business activities. Kanuri FIT Limited through its investment looking to invest into the wellness and fitness service markets providing fitness services and facilities to members of the public. The investment will enable I-Fitness to access capital required to drive the growth of the business enabling it to expand its fitness centers to more cities and thereby facilitating the creation of more jobs and employment opportunities.