FOR: CANADIAN GENERAL INVESTMENTS, LIMITED

TSX: CGI

LONDON STOCK EXCHANGE:  CGI

NOVEMBER 15, 2023

Canadian General Investments, Limited Announces Additional Independent Directors

The Board of Directors of Canadian General Investments, Limited (TSX:CGI) (LSE:CGI) is pleased to announce the appointment of Sanjay Nakra as an independent director to the Board.  Mr. Nakra joins independent director Michael Walke, who was elected to the Board at the Corporation's Annual General Meeting in April, as the two newest Directors.

Mr. Walke has an extensive background as an accounting and auditing professional. He presently serves as the CEO of the Canadian Centre for Audit Quality (CCAQ), an independent, non-profit corporation established in 2021 dedicated to advancing confidence in Canada's public accounting and auditing profession.  Prior to joining CCAQ, Mr. Walke's career spanned more than 35 years at PricewaterhouseCoopers LLP in a series of leadership roles.

Mr. Nakra's background includes nearly three decades of international leadership roles in corporate finance, and he presently serves on the boards of directors of Algoma Steel Inc. and of Nuralogix Corporation.  Mr. Nakra held progressively senior roles at TD Securities from 2006-2021, most recently as Managing Director and Co-Group Head, Diversified Industries, Investment Banking.  He is Co-Chair of the University Health Network Annual Gala: Diwali - A Night to Shine and, as part of Soulpepper Theatre Company's Board of Directors, serves as Chair of the Nominating and Governance Committee and Co-Chair of Women Centre Stage.

Established in 1930 and listed in Toronto and London, Canadian General Investments is a closed-end equity fund focussed on medium- to long-term investments in primarily Canadian corporations.  Its objective is to provide better than average returns to investors through prudent security selection, timely recognition of capital gains/losses and appropriate income-generating instruments.

FOR FURTHER INFORMATION PLEASE CONTACT:

Jonathan A. Morgan

President & CEO

Phone: (416) 366-2931

Fax: (416) 366-2729

e-mail: [email protected]

website: www.canadiangeneralinvestments.ca