FOR IMMEDIATE RELEASE

TORONTO, Ontario – November 22, 2021 – Lysander Funds Limited (“Lysander”) announced today a change in the risk rating for Lysander TDV Fund (the “Fund”). Details of this change are set out below.

Change in Risk Rating

In accordance with the investment risk classification methodology mandated by the Canadian Securities Administrators, the investment risk rating of the Fund has changed from “low-to-medium” to “medium”.

No change has been made to the investment objectives of the Fund. ______________________________________________________________________________

Lysander is the trustee and investment fund manager of the Fund. The head office of Lysander is located at 3080 Yonge Street, Suite 3037, Toronto, Ontario M4N 3N1.

For further information on Lysander, please visit www.lysanderfunds.com, email manager@lysanderfunds.com or you can reach Lysander at 1-877-308-6979.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.

Richard Usher-Jones
President
Lysander Funds Limited
Tel. No. 416-640-4275
Fax No. 416-855-6515