The Blackcrane Capital website www.blakecranecap.com is the website (the “Site”) for the Blackcrane Capital (the “Fund”), which is managed by Blackcrane Capital (the “Manager”).

Any and all persons accessing and viewing the Site (the “User(s)”) expressly agree to the foregoing disclaimer as a pre-condition to using the Site for any purpose whatsoever. The information on the Site including, without limitation, any text, metrics or information in the documents for download, have been prepared for informational purposes only and do not constitute financial, legal, tax or any other advice. All information contained herein is provided “as is”, and the Fund and the Manager expressly disclaim making any express or implied warranties with respect to the fitness of the information contained herein for any particular usage, its merchantability or its application or purpose. Prior to making any investment, the User should consult with their professional financial, legal and tax advisors to assist in due diligence, as may be appropriate in determining the appropriateness of the risk associated with a particular investment. In no event shall the Fund or the Manager be responsible or liable for the correctness of any such material or for any damage or lost opportunities resulting from a Users review or download of any information on or from the Site.

By accessing the password-protected area of the Site, the User agrees to immediately contact the Manager if there is any change in their status as an “accredited investor” under Regulation D promulgated under Securities Act of 1933. For individuals such changes may include, for example, a User’s net worth declining below $1,000,000, an expectation that income for the next 12 months may total less than $200,000 or an expectation that the User’s combined income with his or her spouse may total less than $300,000 in the next 12 months. All Users, including individuals and entities, should communicate with their legal advisors if they believe that their status as an accredited investor has changed. If a User’s status as an accredited investor has changed, such User agrees to immediately notify the Manager of such change. Nothing in the Site may be considered an offer or solicitation to purchase or sell securities or other services. If any provision in this Disclaimer Agreement is held to be invalid or unenforceable, then the remaining provisions shall continue in full force and effect. The Manager reserves the right to terminate, at any time, any User’s account and any User’s access to the Site.