AmWolf Capital Corp. Completes Initial Public Offering and Lists on the TSX Venture Exchange

VANCOUVER, May 21, 2019 /CNW/ - AmWolf Capital Corp. ("AmWolf" or the "Corporation") (TSX‑V: AMW.P) is pleased to announce that it has completed an initial public offering ("IPO") of 3,500,000 common shares at a price of $0.10 per share for gross proceeds of $350,000. The Corporation's common shares were listed on the TSX Venture Exchange (the "Exchange") at the market open on May 21, 2019, trading was immediately halted and the common shares are expected to commence trading on the Exchange on May 23, 2019 under the stock symbol "AMW.P".

When combined with the cash proceeds raised prior to the IPO, the Corporation has raised total gross proceeds of $450,000 and has a total of 5,500,001 common shares issued and outstanding, of which 2,000,001 common shares are currently held in escrow pursuant to the policies of the Exchange.

The net proceeds of the offering, together with the proceeds from prior sales of common shares, will be used by the Corporation to identify and evaluate assets or businesses for acquisition with a view to completing a "Qualifying Transaction" under the Exchange's capital pool company program ("CPC").

"Amwolf's IPO represents the culmination of our efforts to bring together accomplished capital market leaders to establish a professionally managed, and well-capitalized CPC," commented Chief Financial Officer Jeremy Wright. "We look forward to bringing our significant experience and deep fundraising network to the Qualifying Transaction," continued Mr. Wright.

Mackie Research Capital Corporation (the "Agent") acted as agent for the initial public offering.  In connection with the offering, the Corporation granted to the Agent non-transferable options to acquire up to an aggregate of 350,000 common shares (the "Agent's Options").  Each Agent's Option is exercisable to acquire one common share at a price of $0.10 for a period of 24 months following the date that the common shares are listed on the Exchange.  In connection with the offering, the Agent also received a cash commission equal to 10% of the aggregate gross proceeds from the sale of the common shares, along with a corporate finance fee of $12,500.

The current directors and officers of the Corporation are: Tsend Tseren, Chief Executive Officer and Director; Jeremy Wright Chief Financial Officer, Corporate Secretary and Director; Alain V. Fontaine, Director; Gan-Ochir Zunduisuren, Director; and Alexander Molyneux, Director. For further information please see the Corporation's Amended and Restated Prospectus dated March 7, 2019 available under the Corporation's profile on SEDAR at www.sedar.com.

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements, including statements about the Corporation's future plans and intentions, listing of the Common Shares on the Exchange, use of proceeds of the offering and completion of a Qualifying Transaction. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Corporation cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Corporation assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE AmWolf Capital Corp.

Jeremy Wright, Chief Financial Officer, Telephone: [phone], Email: [email protected]