Hennessy Advisors, Inc. to Acquire the Assets of the Community Capital Management, LLC's Equity Funds

This press release contains forward-looking statements, which do not relate strictly to historical or current facts. Forward-looking statements are beyond the ability of Hennessy Advisors, Inc. to control and, in many cases, Hennessy Advisors, Inc. cannot predict what factors would cause actual results to differ materially from those indicated by forward-looking statements. Among other risks and uncertainties is the ability of Hennessy Advisors, Inc. to successfully merge the assets of the CCM Equity Funds into the Hennessy Stance ESG ETF. As a result, no assurance can be given as to future results, levels of activity, performance, or achievements, and Hennessy Advisors, Inc. assumes no responsibility for the accuracy and completeness of any forward-looking statements.

This press release is for informational purposes only and is not intended to and does not constitute an offer to sell or the solicitation of an offer to sell or an offer to buy or subscribe for any securities or a solicitation of any vote or approval with respect to the transactions contemplated herein or otherwise, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offer of securities in the United States shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law.

In soliciting shareholder approval of the transactions, Quaker Investment Trust and its trustees, CCM, as well as Hennessy Advisors, Inc., may be deemed to be participants in the solicitation of proxies from shareholders of the CCM Equity Funds. Information about Quaker Investment Trust and its trustees may be found in the 2022 Annual Report of the CCM Equity Funds filed with the SEC on August 9, 2022, and in the Statement of Additional Information filed with the SEC on October 28, 2022.  Information about CCM may be found in its Form ADV filed with the SEC on February 3, 2023. Information about Hennessy Advisors, Inc. may be found in the 2022 Annual Report of Hennessy Advisors, Inc. on Form 10-K filed with the SEC on December 7, 2022, and the definitive proxy statement filed with the SEC on December 13, 2022, in connection with Hennessy Advisors Inc.'s 2022 annual meeting of shareholders.  Information about the Hennessy Stance ESG ETF may be found in the amended 2022 Annual Report of the Stance Equity ESG Large Cap Core ETF, a series of The RBB Fund, Inc., the predecessor to the Hennessy Stance ESG ETF, filed with the SEC on March 14, 2023, and in the Prospectus and Statement of Additional Information of the Hennessy Stance ESG ETF, as a series of Hennessy Fund Trust, filed with the SEC on December 22, 2022. Shareholders of the CCM Equity Funds should read the definitive prospectus/proxy statement that will be filed in connection with the solicitation because it will contain important information, including a description of any direct or indirect interest of the participants in the solicitation. The definitive prospectus/proxy statement and other relevant documents (when available) may be obtained free of charge from the SEC's website at www.sec.gov or by calling 1-800-966-4354.

Investors should consider the investment objective, risks, charges, and expenses of the CCM Equity Funds carefully before investing. A prospectus with this and other information may be obtained at www.ccminvests.com or by calling 888–272-0007. Read the prospectus carefully before investing.

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SOURCE Hennessy Advisors, Inc.