MJ Opportunity Corp. Announces Receipt of Conditional Approval and Files Filing Statement for Its Qualifying Transaction with Lift Co. Ltd

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TORONTO, Aug. 29, 2018 /CNW/ - MJ Opportunity Corp. (TSXV: MJC.P) (the "Corporation" or "MJO"), a capital pool company pursuant to Policy 2.4 of the TSX Venture Exchange (the "TSXV"), is pleased to announce that it has received conditional approval from the TSXV for the closing of its Qualifying Transaction, as defined under TSXV Policy 2.4 - Capital Pool Companies (the "Transaction"), previously announced in its press release dated April 11, 2018, and the Corporation has filed its filing statement dated August 29, 2018 in connection with the Transaction (the "Filing Statement"). The Filing Statement is available under the Corporation's profile on SEDAR at www.sedar.com.

Trading in the common shares of the Corporation will remain halted pending further filings with the TSXV. The common shares of the Corporation are anticipated to resume trading under the symbol "LIFT" following publication of the Final Exchange Bulletin by the TSXV in respect of the closing of the Transaction. Assuming all conditions for closing are satisfied, the Corporation and Lift Co. Ltd. ("Lift") expect to close the Transaction on or about September 11, 2018.

About Lift Co. Ltd.

Lift is a privately held company that was incorporated under the Business Corporations Act (British Columbia) and subsequently continued and currently existing pursuant to the Business Corporation Act (Ontario). Lift brings media and data together to empower cannabis businesses and consumers with unique knowledge and insights to make better-informed decisions. For consumers, Lift operates Canada's largest cannabis product-comparison platform, an unrivalled loyalty program and North America's largest consumer cannabis tradeshows. For businesses, Lift provides unique market, product and consumer insights while connecting businesses and consumers through Canada's most-adopted consumer channels.

For more information, please contact David Mitchell, the Chief Executive Officer, Secretary, and a director of the Corporation.

The completion of the Transaction is subject to a number of conditions, including but not limited to receipt of all required regulatory approvals, including final TSXV acceptance and the satisfaction of other customary closing conditions. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release contains "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer's business, capital, or operations that is prospective in nature, and includes future-oriented financial information about the issuer's prospective financial performance or financial position.

The forward-looking information in this news release includes disclosure about the terms of the Transaction and the proposed structure of the Transaction.

MJO and Lift made certain material assumptions, including but not limited to: prevailing market conditions; general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the ability of the resulting issuer to execute and achieve its business objectives, to develop the forward-looking information in this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Actual results may vary from the forward-looking information in this news release due to certain material risk factors. These risk factors include, but are not limited to: adverse market conditions; the inability of MJO and Lift to complete the Transaction on the terms disclosed in this news release, or at all; refusal of the proposed directors or officers to act for any reason, including conflicts of interest; reliance on key and qualified personnel; and regulatory and other risks associated with the cannabis industry in general. The foregoing list of material risk factors and assumptions is not exhaustive.

MJO assumes no obligation to update or revise the forward-looking information in this news release, unless it is required to do so under Canadian securities legislation.

SOURCE MJ Opportunity Corp.

David Mitchell, CEO, [email protected], [phone]