Certain Shareholders Acquire Additional Shares of Media Central Corporation Inc.

TORONTO, Oct. 22, 2020 /CNW/ - On October 16, 2020, certain concerned shareholders (the "Concerned Shareholders") of Media Central Corporation Inc. (the "Corporation") issued a news release concerning a requisition of shareholder meeting submitted to the board of directors of the Corporation.

Certain members of the group (the "Acquirors"), announced the acquisition today of an aggregate of 14,000,000 additional common shares (the "Common Shares") in the capital of the Corporation, collectively representing 4.14% of the outstanding Common Shares of the Corporation.

The Acquirors acquired the Common Shares for investment purposes. The Acquirors may be considered to be acting jointly or in concert with the other Concerned Shareholders, Rachelle Grossi and Michael Grossi. For further information pertaining to the requisition, the meeting and the holdings of the aforementioned shareholders, see the early warning report filed under the Corporation's SEDAR profile on October 16, 2020. For greater certainty, the Acquirors have not otherwise entered into any agreement, commitment or understanding under which they may be considered "joint actors".

Together with the other Concerned Shareholders, Rachelle Grossi and Michael Grossi, the Acquirors beneficially own or exercise control or direction over an aggregate of 60,108,736 Common Shares of the Corporation, representing 17.77% of the outstanding number of Common Shares.

The Acquirors are filing a report under Form 62-103F1 (the "Early Warning Report") on the Corporation's SEDAR profile in respect of the acquisition.

A copy of this press release is being filed on Media Central's SEDAR profile on www.sedar.com.

SOURCE Shareholders of Media Central Corporation Inc.

For further information and to obtain a copy of the Early Warning Report, please contact Massimo Giovannetti, one of the Acquirors, by email at [email protected] or by telephone at 416-566-5469.