Forus SA Reaches Cooperation Agreement with Wolverine World Wide, Inc. Through Jointly Held Subsidiaries

Forus SA announced that it has reached the agreement with Wolverine World Wide, Inc. to cooperate under the RKF (Rockford), Hush Puppies, Cushe, Merrell and CAT brands, through the subsidiaries Forus Colombia SA and Lifestyle Brands of Colombia SAS. The Company also announced that Wolverine World Wide, Inc. has acquired a 49% stake in Forus Colombia SA, which will trade the Hush Puppies and Cushe brands, at a value of USD 1,603,914.55 from Forus SA. After the transaction Forus SA will hold 51%. In the other hand, Forus SA and Wolverine World Wide, Inc. will hold 51% and 49%, respectively in Lifestyle Brands of Colombia SAS through the issuance of new shares as part of the agreement. The transaction represents for Forus SA an investment of USD 1,225,000. Life Style will trade the RKF (Rockford) brand owned by Forus SA, as well as Merrell and Cat brands owned by Wolverine World Wide, Inc.