LXRandCo, Inc. (TSX:LXR) announced that it is undertaking a strategic review process to assess the best course of action for the Company's next phase of development and growth. The Company has retained Stifel Nicolaus Canada Inc. (Stifel GMP) as exclusive financial advisor to help assess and more fully explore the strategic alternatives available to it, which may include the possibility of raising growth capital, a sale or merger of the Company or an acquisition by the Company. As the transformation progressed, the Company considered and explored several opportunities of a strategic nature, some of which were unsolicited.

In light of this, together with the successful repositioning of the Company and the growing trend of consolidation within the resale sector, the Company feels it is appropriate at this time to more formally assess its alternatives for growth and to embark on a strategic review. However, there can be no assurance that the strategic review process will result in any transaction or other alternative nor any assurance as to its outcome or timing. The Company has not set a timetable for completion of the review process and does not intend to periodically or otherwise disclose developments related to the process unless it determines that such disclosure is necessary or appropriate.

Given the above, the Company will cease reporting revenue on a monthly basis and revert to its quarterly reporting cycle. The Company's financial results for the third quarter 2022 will be available on November 11, 2022.