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Techspan Industries Inc. of Mississauga Ontario Expands Portfolio, Acquiring 100% of the Shares of Pico Canada Ltd. Based in British Columbia

April 26, 2023

Ron Grieve, Owner of Pico, and Frank Dunnigan, CEO of Techspan Industries, are pleased to announce the sale of 100% of the shares of Pico to Techspan. The acquisition is effective immediately.

“After many years in the automotive wire accessory business, I had to look at a succession plan” said Mr. Grieve. “We looked for the right fit – not just for ourselves, but also for our customers, suppliers, and employees. Founded in 1989, Techspan is a family-owned Canadian company with a similar business philosophy and a set of corporate values that closely matched those of Pico. We couldn’t think of a better partner to carry the Canadian torch forward than Techspan.”

Ron Grieve, Owner of Pico

“We were looking for a strategic acquisition that would deliver more value to our distributors across the country,” said Mr. Dunnigan. “The extensive range of Pico products and their reputation for operational excellence with customers is perfectly aligned with Techspan. Our two companies, Canadian owned and totally committed to the Canadian market, will deliver exceptional results for all stakeholders going forward.”

Frank Dunnigan, CEO of Techspan Industries

More About Techspan’s Acquisition of Pico

Techspan’s head office is in Mississauga ON and Pico’s head office is in Burnaby BC.

Pico will continue to be run as a separate division with no changes to employees, operations, nor the sales and
marketing team. Products will continue to be shipped from Burnaby and Toronto locations and there will be no changes to AP or AR procedures.

Techspan supplies thousands of wiring products to electrical, automotive, heavy duty, marine, electronic, and industrial
distributors throughout Canada.

Pico is a recognized leader in automotive wire, cable, and connection accessories through automotive wholesalers
across Canada. www.picocanada.com

Mr. Grieve will continue to work for Pico as Chairman of the corporation.

For more information, please contact Ronald Grieve rgrieve@picocanada.com or Frank Dunnigan frank@techspan.ca

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