Sententia Capital Management, LLC, one of the largest shareholders of Schmitt Industries, Inc. (NASDAQ: SMIT) with ownership of approximately 7.5% of the outstanding shares, today announced that it has delivered a letter to Schmitt's Board of Directors.

Sententia believes Schmitt is comprised of good businesses, strong brands, an attractive long-term profile, and the ability to generate strong free cash flow. However, these features remain hidden under poor leadership and a lack of strategic accountability and insight from the entrenched Company's Board of Directors (the "Board"). The Company remains significantly undervalued as the Board refuses to take appropriate steps to unlock value.

Sententia has made numerous attempts to work cooperatively and privately with the Board over the past two months to effect changes at the Company they believe are necessary to grow, protect and enhance shareholder and stakeholder value, including but not limited to changes to the composition of the Board. Due to the reluctance of the Board to welcome both a large shareholder and an experienced turnaround expert to the Board, and to take other appropriate steps to enhance accountability and transparency for the Board and its committees, Sententia has formally nominated two candidates for election to the Board at Schmitt's 2018 annual meeting.

Please click the following link to access the full letter: SENTENTIA LETTER TO SCHMITT BOARD

ABOUT SENTENTIA CAPITAL

Sententia is a value investing based capital management firm that runs a concentrated, deep value portfolio.