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EARLY WARNING FILING BY THAIHOT INVESTMENT CO. LTD.

/NOT FOR DISTRIBUTION IN THE U.S. OR OVER U.S. NEWSWIRES/

TORONTO, Aug. 11, 2022 /CNW/ - This news release is issued by Thaihot Investment Co. Ltd. ("Thaihot") pursuant to the early warning requirements of Canada's National Instrument 62-104 and National Instrument 62-103 with respect to common shares (the "Common Shares") of Akumin Inc. ("Akumin").

Thaihot announced a change to its early warning report in connection with its beneficial ownership of Common Shares of Akumin. Thaihot's Common Shares have been pledged as security for a limited recourse guarantee made by Thaihot in favour of an arm's length third party (the "Pledgee"). The limited recourse guarantee provides a guarantee of the obligations of Everwin Enterprise (Hong Kong) Limited and Mr. Huang Qisen pursuant to a deed of settlement dated as of June 2, 2022. The Common Shares have been pledged pursuant to a Pledge Agreement dated August 4, 2022 between Thaihot and the Pledgee (the "Pledge Agreement"). The Pledgee has no rights to dispose of, or vote, any of the pledged Common Shares until such time as the pledge has been realized following an event of default under the Pledge Agreement.

In addition, Thaihot and the Pledgee have entered into a call option agreement (the "Call Option Agreement") pursuant to which the Pledgee shall have the right to purchase the 14,223,570 Common Shares held by Thaihot on any date that is at least twelve months following August 4, 2022 to purchase Thaihot's Common Shares at a price equal to the greater of (i) a price per Common Share equal to the prevailing market price of the Common Shares as listed on the NASDAQ, plus 10%, and (ii) US$35,000,000.

Immediately before and after the occurrence of the event that triggered the requirement to file this report, Thaihot beneficially owns 14,223,570 Common Shares of the Issuer, representing 15.89% of the outstanding Common Shares.

The head office address of Akumin is 8300 West Sunrise Blvd., Plantation, Florida 33322, USA.

Thaihot's address is c/o Vistra (Cayman) Limited, P.O. Box 31119, Grand Pavilion, Hibiscus Way, Plantation, Florida 33322, Grand Cayman, KY1 – 1205, Cayman Islands.

Thaihot is a wholly-owned subsidiary of Tahoe Healthcare Management Limited. Tahoe Investment Group, founded in 1996 by Mr. Qisen Huang, is an investment holding company headquartered in No.333 North Wusi Road, Fuzhou, Fujian Province, China. With offices in major Chinese business hubs including Beijing, Shanghai, Guangzhou, and Hong Kong, Tahoe Investment Group holds a diversified portfolio of assets in various industries including real estate development, financial services, healthcare, and property management. Tahoe Group, in which Tahoe Investment Group holds a controlling ownership, is one of the leading real-estate developers in China listed on the Shenzhen Stock Exchange. For more information, please visit www.tahoecn.com.

An early warning report will be filed by Thaihot in accordance with applicable securities laws and will be available on SEDAR at www.sedar.com or may be obtained directly from Jinpeng Li upon request at +8618610278041. A Schedule 13D will be filed by Tahoe in accordance with applicable U.S. securities laws and will be available on EDGAR at www.sec.gov.

SOURCE THAIHOT INVESTMENT CO. LTD

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View original content: http://www.newswire.ca/en/releases/archive/August2022/11/c9020.html