GO Lab, Inc. to begin construction of first wood fiber insulation manufacturing plant in North America

November 9, 2021

Madison, Maine — GO Lab, Inc. is pleased to announce approval of a capital project to renovate a former paper mill in Madison, Maine to manufacture wood fiber insulation products for the residential and light commercial construction markets. Buildout of the facility and installation of manufacturing lines will be financed with the proceeds from the sale of up to $85 million tax exempt bonds to be issued by the Finance Authority of Maine. Proceeds of the bonds will be lent to GO Lab Madison, LLC, a subsidiary of GO Lab, Inc. GO Lab, Inc. has engaged Citigroup Global Markets to act as underwriter with respect to the bonds.

GO Lab, Inc. expects the bonds to be marketed at the end of November. GO Lab, Inc. was represented in the transaction by Pierce Atwood LLP.

The bonds are being designated as ‘Green Bonds’ as defined in the ICMA (International Capital Market Association) 2021 Green Bond Principles—based on the opinion letter provided by Vigeo Eiris, an  affiliate of Moody’s.

About GO Lab, Inc.

GO Lab, Inc. was founded in 2017 to develop and manufacture wood fiber insulation solutions for the residential and light-commercial construction markets. Wood fiber board, batt, and loose fill insulation products are an easy drop-in replacement for other insulations on the market.  Along with being high-performing, wood fiber insulation products are easy and safe to install, renewable, recyclable, nontoxic, and will have a negative carbon footprint.  When manufactured here in America, GO Lab’s TimberHP product line will offer the most comprehensive, above-grade solution on the market—cavity, continuous and blanket insulation made from one material, from one manufacturer.

For further information, please contact:

Kenneth Friedli

Treasurer and Chief Financial Officer

GO Lab, Inc.

ken@timberhp.com

Disclaimer

Certain statements in this press release are not historical facts and are “forward looking.” Forward looking statements include statements concerning GO Lab, Inc.’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, GO Lab, Inc.’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, GO Lab, Inc.’s business strategy and the trends GO Lab, Inc. anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information.  When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements.  By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved.  These forward-looking statements speak only as of the date of this press release.  GO Lab, Inc. expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in GO Lab, Inc.’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward-looking statement is based.