Reported Earlier, FG Acquisition Completes $4.3M Private Placement Following Strong/MDI Acquisition

FG Acquisition Corp. (TSX:FGAA) (TSX:FGAA) ("FGAC" or the "Corporation"), a special purpose acquisition company, is pleased to announce the successful completion of the previously announced acquisition (the "MDI Acquisition") of Strong/MDI Screen Systems, Inc. ("MDI") by FGAC, pursuant to an acquisition agreement (the "Acquisition Agreement") dated May 3, 2024 between FGAC, Strong Global Entertainment, Inc. (NYSE:SGE) ("Strong Global"), MDI, FGAC Investors LLC (the "FG Sponsor") and CG Investments VII Inc (the "CG Sponsor" and together with FGAC Investors LLC, the "Sponsors"). The MDI Acquisition, together with the launch of FGAC's new investment platform, constitute FGAC's qualifying acquisition.

The Corporation is also pleased to announce it has completed an offering of 433,559 common shares (the "Common Shares") at a price of $10.00 per Common Share, for gross proceeds of approximately $4.3 million on a private placement basis (the "Private Placement").  The net proceeds from the Private Placement will be used to satisfy a portion of the purchase price in respect of the MDI Acquisition, to fund the Company's growth initiatives, for working capital and for general corporate purposes.