Four Arrows Capital Corp. — Capital/Financing Update 2021

Feb 25, 2021

NEWS RELEASE

FOUR ARROWS COMPLETES INITIAL PUBLIC OFFERING

February 25, 2020 - Vancouver, British Columbia – Four Arrows Capital Corp. (the “ Corporation ”, TSXV: AROW.P ) is pleased to announce that it has successfully completed its initial public offering of a maximum 5,000,000 common shares (the “ Common Shares ”) at $0.10 per share for gross proceeds of $500,000 (the “ Offering ”) pursuant to a final prospectus dated January 25, 2021 (the “ Prospectus ”). As a result of this issuance, the Corporation has 10,500,000 Common Shares issued and outstanding, of which 5,500,000 are subject to escrow restrictions as disclosed in the Prospectus.

In connection with the Offering, the Corporation granted to Canaccord Genuity Corp. (the “Agent” ), the agent of the Offering, warrants to acquire an aggregate of 500,000 Common Shares (the “ Agent’s Warrants ”) at an exercise price of $0.10 per share. The Agent’s Warrants will expire 5 years from the date the Corporation’s Common Shares are listed (the “ Listing Date ”) on the TSX Venture Exchange Inc. (the “ Exchange ”). In consideration for acting as agent for the Offering, the Agent also received an administration fee and a cash commission equal to 10% of the gross proceeds of the Offering.

The Corporation will be granting incentive stock options effective the date of listing of the Corporation’s shares on the Exchange to acquire an aggregate of 1,050,000 Common Shares comprised of 741,175 incentive stock options having an exercise price of $0.05 and 308,825 incentive stock options having an exercise price of $0.06 share to the directors and officers of the Corporation, which expire five years from the Listing Date. All of the 1,050,000 Common Shares exercisable pursuant to the stock options will be subject to escrow, per the policies of the Exchange.

Alex Lyamport, CEO of the Corporation, stated: “Our team is so pleased to have quickly raised the maximum amount of $500,000.00 in our IPO. Four Arrows is now well capitalized with an experienced team that is eager to begin identifying and evaluating companies or assets for a potential Qualifying Transaction that will bring value to our shareholders."

The Corporation is a capital pool company under the policies of the Exchange. It is expected that the Corporation’s Common Shares will commence trading on the Exchange under the trading symbol “AROW.P” on March 1, 2021.

For further information please see the Prospectus, available under the Corporation’s profile on SEDAR at www.sedar.com.

About the Corporation

The Corporation is a capital pool company (“CPC”) within the meaning of the policies of the Exchange that has not commenced commercial operations and has not assets other than cash. Except as specifically contemplated in the CPC policies of the Exchange, until completion of its “Qualifying Transaction” (as defined therein), the Corporation will not carry on business, other than the identification and evaluation of companies, business or assets with a view to completing a proposed “Qualifying Transaction”.

ON BEHALF OF THE BOARD

ALEX LYAMPORT, CEO AND DIRECTOR

Neither 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 includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forwardlooking statements.