Structured Alpha LP, a fund managed by Thomvest Ventures, Inc. entered into a non-binding proposal to acquire remaining 38.8% stake in Liminal BioSciences Inc. (DB:PJ2) for $8.4 million on April 4, 2023. Structured Alpha LP, a fund managed by Thomvest Ventures, Inc. entered into a a definitive arrangement agreement to acquire remaining 38.8% stake in Liminal BioSciences Inc. (DB:PJ2) for $10.7 million on July 11, 2023. Structured Alpha will pay $7.50 in cash per common share of Liminal BioSciences. SALP currently owns 1,987,622 common shares of Liminal Biosciences representing approximately 64.03% of the Liminal's currently outstanding common shares. A special committee of the independent members of the Board (the "Special Committee") has been formed and will evaluate the Proposal and any viable alternatives that may be available to Liminal. Under the terms of definitive agreement, Liminal BioSciences shareholders will receive $8.50 in cash per Common Share. A termination fee of $322,000 would be payable by Liminal BioSciences to Structured Alpha in certain circumstances.

The proposed transaction would be conditioned on the receipt of customary approvals, including regulatory approvals, court approval, the receipt of Liminal BioSciences shareholder approvals required under applicable securities laws, including Multilateral Instrument 61-101 ? Protection of Minority Security Holders in special transactions, and other conditions customary for a transaction of this nature, including confirmatory due diligence satisfactory to Thomvest. The transaction is not subject to any financing condition. Board of Directors of Liminal BioSciences have unanimously approved the transaction. The transaction is not subject to any financing condition. On August 16, 2023, the Ontario Superior Court of Justice approved the transaction. A special meeting of Liminal BioSciences will be held on September 15, 2023. As of September 15, 2023, the shareholders of Liminal BioSciences approved the transaction. The transaction is expected to close no later than September 30, 2023. As of September 15, 2023, the transaction is expected to close at or around the end of September 2023. As per the filling on September 19, 2023, Liminal BioSciences received the final order of the Ontario Superior Court of Justice and expected to close on or about September 26, 2023, subject to the satisfaction or waiver of certain other customary conditions precedent to the Arrangement.

BMO Nesbitt Burns Inc. acted as financial advisor and fairness opinion provider to the special committee of Liminal BioSciences. Pierre-Yves Leduc and Julien Robitaille-Rodriguez of Stikeman Elliot LLP and Kevin Cooper and Richard Segal of Cooley LLP are serving as Liminal BioSciences' legal advisors. Langstaff & Co. is acting as financial advisor to Structured Alpha. John Emanoilidis, Adam Ibrahim, Jordan Wright, John Fabello, Chris Richter, Andrew Gray, Mile Kurta, Maija Fiorante, Edward Fan and Andrew Wong of Torys LLP is serving as legal advisors to Structured Alpha.

Structured Alpha LP, a fund managed by Thomvest Ventures, Inc. completed the acquisition of remaining 38.8% stake in Liminal BioSciences Inc. (DB:PJ2) on September 26, 2023. As a result of the completion of the Arrangement, the Common Shares will no longer be listed on the Nasdaq Global Market.