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| Press Release

AirBoss Announces Appointment of New Director

NEWMARKET, Ontario, Aug. 13, 2019 (GLOBE NEWSWIRE) -- AirBoss of America Corp. (TSX: BOS) (the "Company" or "AirBoss") today announced that it has appointed Ms. Anita Antenucci to its Board of Directors effective August 13, 2019.

“Anita brings a wealth of both defense business and capital markets experience to her new role and we are delighted to welcome her to the AirBoss board,” said Mr. Gren Schoch, Chairman and CEO of AirBoss of America Corp. “Her fresh perspective and specific expertise will be invaluable as we work to complete, and then leverage, the previously announced transaction that will create the AirBoss Defense Group. We expect the enhanced scale and capabilities of the new entity will provide a strong platform to act on array of strategic opportunities in the future and that Anita will play an important role in helping us identify and advance new defense industry initiatives going forward.”

Ms. Antenucci is a Senior Managing Director with Houlihan Lokey Inc., a leading global investment bank, where she currently leads the Aerospace, Defense and Government practice. Based in Washington, D.C., Ms. Antenucci has more than 25 years of investment banking experience, spanning M&A, financing and valuation mandates. Over her career she has worked with a range of groups, from entrepreneurs and small cap companies to Fortune 500 constituents and large internationals, including completing assignments for several leading aerospace/defense contractors. Prior to joining Houlihan Lokey in 2002, she was a Co-President and Managing Director with Quarterdeck Investment Partners Inc., a boutique M&A advisor to the aerospace, defense and government services industries. Ms. Antenucci holds degrees from the School of Advanced International Studies of the John Hopkins University and from Northwestern University, and she studied at the Institut d’Etudes Politiques in Paris, France.

AirBoss of America Corp.

AirBoss of America Corp. is a group of complementary businesses using compounding technology and engineering expertise to create value for its customers. With a capacity to process over 450 million turn pounds of rubber annually, AirBoss Rubber Solutions is one of North America’s largest custom rubber compounding companies and a leading supplier of essential calendered and extruded products for a broad range of applications. AirBoss Engineered Products is a world leader in the supply of life saving products for the military and a leading supplier of innovative anti-vibration solutions to the North American automotive market. The Company’s shares trade on the TSX under the symbol BOS. Visit www.airbossofamerica.com.

Contact: Chris Bitsakakis, President or Gren Schoch, Chairman and CEO at 905-751-1188.

AIRBOSS FORWARD LOOKING INFORMATION DISCLAIMER

Certain statements contained or incorporated by reference herein, including those that express management’s expectations or estimates of future developments or AirBoss’ future performance, constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws, and can generally be identified by words such as “will”, “may”, “could” “is expected to”, “believes”, “anticipates”, “forecasts”, “plans”, “intends” or similar expressions.  These statements are not historical facts but instead represent management’s expectations, estimates and projections regarding future events and performance.

Statements containing forward-looking information are necessarily based upon a number of opinions, estimates and assumptions that, while considered reasonable by management at the time the statements are made, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies.  AirBoss cautions that such forward-looking information involves known and unknown contingencies, uncertainties and other risks that may cause AirBoss’ actual financial results, performance or achievements to be materially different from its estimated future results, performance or achievements expressed or implied by the forward-looking information.  Numerous factors could cause actual results to differ materially from those in the forward-looking information, including without limitation: impact of general economic conditions; dependence on key customers; cyclical trends in the tire and automotive, construction, mining and retail industries; sufficient availability of raw materials at economical costs; weather conditions affecting raw materials, production and sales; AirBoss’ ability to maintain existing customers or develop new customers in light of increased competition; AirBoss’ ability to successfully integrate acquisitions of other businesses and/or companies or to realize on the anticipated benefits thereof, changes in accounting policies and methods, including uncertainties associated with critical accounting assumptions and estimates; changes in the value of the Canadian dollar relative to the US dollar; changes in tax laws and potential litigation; ability to obtain financing on acceptable terms; environmental damage and non-compliance with environmental laws and regulations; potential product liability and warranty claims and equipment malfunction.  This list is not exhaustive of the factors that may affect any of AirBoss’ forward-looking information.

All of the forward-looking information in this press release is expressly qualified by these cautionary statements.  Investors are cautioned not to put undue reliance on forward-looking information.  All subsequent written and oral forward-looking information attributable to AirBoss or persons acting on its behalf are expressly qualified in their entirety by this notice.  Forward-looking information contained herein is made as of the date of this press release and, whether as a result of new information, future events or otherwise, AirBoss disclaims any intent or obligation to update publicly this forward-looking information except as required by applicable laws.  Risks and uncertainties about AirBoss’ business are more fully discussed under the heading “Risk Factors” in our most recent Annual Information Form and are otherwise disclosed in our filings with securities regulatory authorities which are available on SEDAR at www.sedar.com

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