Mr. Rob Brown reports

HARDWOODS DISTRIBUTION INC. REBRANDS TO ADENTRA INC.

Hardwoods Distribution Inc. has completed its rebranding of the company from Hardwoods Distribution Inc. to Adentra Inc. The name change was formally approved at a special meeting of shareholders held on Dec. 2, 2022.

Adentra has launched its new website, as well as its new logo and social media accounts. The new website offers users a contemporary look along with easy navigation to valuable information about Adentra's business and service offerings tailored toward its supply chain partners, prospective employees and investors.

"We are very excited to launch our new brand and corporate identity," expressed Rob Brown, president and chief executive officer of Adentra. "We have significantly transformed our business over the past several years as we organically expanded our product offering and added quality businesses through our acquisition strategy. Our company today delivers a one-stop customer buying experience with access to a diversified mix of specialty products used in the finishing stages of construction projects. We have created a North American-wide distribution capability and broadened our customer channel participation to include industrial fabricators, professional building products dealers and home centres.

"We believe the Adentra name is an excellent reflection of the breadth and strengths of our transformed business, and our vision to be the preferred choice for our valued customers, the best partner for our vendors, and a great place to work for our dedicated employees."

Deriving from the Spanish word dentro meaning within, Adentra represents the company's modern identity as a world-class distributor of architectural products used to create beautiful spaces where it lives, works and plays. The logo's icon consists of shapes and colours representing natural earth elements, while the configuration of its shapes reflects on the diverse areas of the business that were forged together, over time, into one cohesive entity.

While the corporate name is being rebranded, the company's work with customers and vendors will continue unchanged through its flagship brands Novo Building Products, Mid-Am Building Supply, Rugby Architectural Building Products, Frank Paxton Lumber Company and Hardwoods Specialty Products. Customer relationships will continue to be managed directly through each of these brands and the corresponding regional customer service centre they operate in their local markets.

Concurrent with the launch of Adentra, the company is hosting an analyst day and tour of operations on Dec. 6. During the event, management will review the company's strategy, including a goal to reach a run-rate sales pace of $3.5-billion (U.S.) per year by the end of 2026. Upon completion of the analyst day, supporting presentation material will be available for review on the investor section of the company's website.

Shares to commence trading under new name and ticker symbol

Subject to satisfaction of the Toronto Stock Exchange's filing requirements, the company expects that its common shares will commence trading under the new name at the market open on Dec. 8, 2022, at which time the company's stock trading symbol will also be changed to ADEN. Securities filings for the company will be reported on SEDAR under Adentra Inc. (formerly Hardwoods Distribution Inc.).

The company's new Cusip number is 00686A108, and its new ISIN number is CA00686A1084.

About Adentra Inc.

Adentra is one of North America's largest distributors of architectural products to fabricators, home centres and professional dealers servicing the new residential, repair and remodel, and commercial construction end markets. The company currently operates a network in North America of 86 facilities in the United States and Canada. Adentra's common shares are listed on the Toronto Stock Exchange under the symbol ADEN.

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