McMaster University, the First Longwood Innovation Trustee Corporation, and Ty Shattuck jointly announce the resolution of the lawsuit initiated by Mr. Shattuck against McMaster and FLIT. The parties have reached a settlement to conclude the matter amicably, and no further legal proceedings will ensue.

McMaster, FLIT, and Mr. Shattuck acknowledge that they acted in good faith in their interactions with each other and withdraw their allegations in their pleadings.

McMaster and FLIT thank Mr. Shattuck for his leadership and service, and Mr. Shattuck expressed his utmost respect for the researchers, faculty and staff of McMaster University and FLIT.

Having reviewed the relevant documents disclosed by McMaster and FLIT, Mr. Shattuck confirms that there is no indication of financial or other malfeasance related to the management of McMaster Innovation Park. McMaster and FLIT acknowledge that there was no impropriety related to expense claims on the part of Mr. Shattuck. The resolution of this matter reflects the shared desire of all parties to focus on their respective missions and contributions to the community.

McMaster, FLIT, and Mr. Shattuck are pleased that the settlement allows all parties to move forward without further dispute.

The terms of the settlement are confidential, and no further comments will be made by any of the parties regarding this matter.