Golcap Resources Corp. — Capital/Financing Update 2022

Feb 23, 2022

==> picture [612 x 100] intentionally omitted <==

A final base shelf prospectus containing important information relating to the securities described in this document has been filed with the securities regulatory authorities in each of the provinces and territories of Canada. A copy of the final base shelf prospectus, any amendment to the final base shelf prospectus and any applicable shelf prospectus supplement that has been filed, is required to be delivered with this document. This document does not provide full disclosure of all material facts relating to the securities offered. Investors should read the final base shelf prospectus, any amendment and any applicable shelf prospectus supplement for disclosure of those facts, especially risk factors relating to the securities offered, before making an investment decision.

BMO Accelerator Principal At Risk Notes, Series 133 (CAD) (F-Class), Due March 14, 2029 Linked to Solactive Equal Weight Canada Banks 5% AR Index

	INVESTMENT HIGHLIGHTSThe Notes are designed to provide investors with the opportunity for an enhanced return in the medium term.The Principal Amount is NOT protectedunder these Notes.**Issuer:**Bank of Montreal.**Medium Term:**7-year term to maturity.Reference Index:The Solactive Equal Weight Canada Banks 5% AR Index is an adjusted return index. It aims to track the gross total returnperformance of the Solactive Equal Weight Canada Banks Index (the “Underlying Index”), calculated in CAD less an adjusted return factor of5.00% per annum that will be calculated daily in arrears (the“Adjusted Return Factor”). The Underlying Index is a gross total return index thatreflects the price changes of its constituent securities and the reinvestment in the index of any dividends and distributions paid in respect of suchsecurities. For the calculation of the level of the Underlying Index, any dividends or other distributions paid on the constituent securities of theUnderlying Index are assumed to be reinvested across all the constituent securities of the Underlying Index.**Upside Participation:**540.00% participation (or 5.40 times the Index Return) where the Index Return is positive.Minimum Payment Amount:$1.00 per Note.**Downside Participation:**100.00% participation where the Index Return is negative.**Daily Secondary Market:**Provided by BMO Capital Markets (may be subject to limitations as described in the Prospectus). The Notes will not belisted on any exchange or marketplace.The dividend yield of the Underlying Index on January 31, 2022 was 3.29%, representing an aggregate dividend yield of approximately 23.05% over theterm of the Notes (assuming the dividend yield remains constant and the dividends are not reinvested). An investment in the Notes does not represent adirect or indirect investment in the Underlying Index or any of the constituent securities that comprise the Underlying Index. Holders have no right orentitlement to the dividends or distributions paid on such securities.Available Until:March 9,2022Issue Date:March 14,2022Maturity Date:March 14,2029Minimum Investment:$2,000.00Selling Concession:Nil
7-Year Term
Linked toSolactive Equal WeightCanada Banks 5% ARIndex
540% UpsideParticipation
No UpsideCap
FundservJHN7490For more information,please contact yourInvestment Advisor
	entitlement to the dividends or distributions paid o
	Available Until:Issue Date:Maturity Date:Minimum Investment:Selling Concession:

Client Brochure February 22, 2022

www.bmonotes.com

1

==> picture [612 x 100] intentionally omitted <==

	ADDITIONAL OFFERING DETAILS	ADDITIONAL OFFERING DETAILS	ADDITIONAL OFFERING DETAILS	ADDITIONAL OFFERING DETAILS	ADDITIONAL OFFERING DETAILS
Issuer	Bank of Montreal (the “Bank”).
Issuer Rating	Moody’s: Aa2;S&P: A+;DBRS: AA(long‐term deposits > 1year).
Issue Price	$100.00 per Note (the “Principal Amount”).
Final Valuation Date:	March 7, 2029.
Index Return	The percentage change in theFinal Level-InitiInitial Level			Closing Level measured from the Issue Date to the Final Valuation Date, and calculated using the following formula:al Level
			Initial Level
Maturity Payment	The amount payable on the Notes at Maturity (the “Maturity Payment”) will be determined as follows:(i)If the Index Return is _positive_on the Final Valuation Date, the Maturity Payment will equal Principal Amount + (Principal Amount × Index Return × UpsideParticipation); and(ii)If the Index Return is zero or negative on the Final Valuation Date, the Maturity Payment will equal Principal Amount + (Principal Amount × Index Return),subject to the Minimum Payment Amount.SeeAppendix A(Return Profile) andAppendix B(Sample Calculations of Maturity Payment) to the Pricing Supplement for further discussion of the return payout calculationsfor the Notes under different hypothetical performance scenarios.		payable on the N	otes at Maturity (the “Maturity Payment”) will be determined as follows:
			he Index Return is	_positive_on the Final Valuation Date, the Maturity Payment will equal Principal Amount + (Principal Amount × Index Return × Upside
				zero or negative on the Final Valuation Date, the Maturity Payment will equal Principal Amount + (Principal Amount × Index Return),
		subject to the Minim		um Payment Amount.
		Appendix A(Return Profile) and			Appendix B(Sample Calculations of Maturity Payment) to the Pricing Supplement for further discussion of the return payout calculations
		the Notes under different hypothetical performance scenarios.
Upside Participation	540	.00% participation (or 5.40 times the Index Return) where the Index Return is positive.
Downside Participation	100	.00%participation where the Index Return is negative.
Maximum Payment Amount	No	ne.
Minimum Payment Amount	$1.00 per Note.
Secondary Market/Early TradingCharge	The Notes will not be listed on any exchange or marketplace. BMO Capital Markets will use reasonable efforts under normal market conditions to provide for a dailysecondary market for the sale of the Notes through the order entry system operated by Fundserv, but reserves the right to elect not to do so in the future, in its sole andabsolute discretion, without prior notice to Holders. No Early Trading Charge will apply if the Notes are sold prior to Maturity. See “Secondary Market” in the ProductSupplement and “Description of the Notes — Fundserv” in the Base Shelf Prospectus.
Calculation Agent	BMO Capital Markets. See “Calculation Agent” in the Prospectus.
Dealers	BMO Nesbitt Burns Inc. and Raymond James Ltd.
Selling Concession	There will be no sellingconcessionpaid for the Notes.

Client Brochure February 22, 2022

www.bmonotes.com

2

BMO Accelerator Notes, Series 133 (CAD) (F-Class) Linked to Solactive Equal Weight Canada Banks 5% AR Index

HOW DO THE NOTES WORK?

The following examples show how the Index Return and Maturity Payment would be calculated based on certain hypothetical values and assumptions set out below. These examples are for illustrative purposes only and should not be construed as an estimate or forecast of the performance of the Reference Index or the return that a Holder might realize on the Notes.

Upside Participation: 540.00% where the Index Return is positive Downside Participation: 100.00% where the Index Return is negative

Example 1 - Negative Index Return

==> picture [264 x 133] intentionally omitted <==

Assumptions for scenario

Return Calculation

Term = 7 years (1) Index Return Initial Level = 200.00 = (120.00 – 200.00)/200.00 = -40.00 % Final Level = 120.00 (2) Maturity Payment Upside Participation = 540.00% = $100.00 + ($100.00 × -40.00%) Downside Participation = 100.00% = $60.00

In this example, a Holder at Maturity would receive payment of $60.00 for each $100.00 Note on the Maturity Date (which is equivalent to a compounded annual loss of 7.03% on the Notes).

Example 2 - Positive Index Return

==> picture [264 x 133] intentionally omitted <==

Assumptions for scenario Return Calculation Term = 7 years (1) Index Return Initial Level = 200.00 = (280.00 – 200.00)/200.00 = 40.00 % Final Level = 280.00 (2) Maturity Payment Upside Participation = 540.00% = $100.00 + ($100.00 × 40.00 × 540%) Downside Participation = 100.00% = $316

In this example, a Holder at Maturity would receive payment of $316.00 for each $100.00 Note on the Maturity Date (which is equivalent to a compounded annual return of 17.85% on the Notes).

The above examples show how the Index Return and Maturity Payment would be calculated based on certain hypothetical values and assumptions set out above. These examples are for illustrative purposes only and should not be construed as an estimate or forecast of the price performance of the Reference Index or the return that a Holder might realize on the Notes.

Client Brochure February 22, 2022

www.bmonotes.com

3

==> picture [612 x 100] intentionally omitted <==

BMO Accelerator Notes, Series 133 (CAD) (F-Class) Linked to Solactive Equal Weight Canada Banks 5% AR Index

DISCLAIMER

This document should be read in conjunction with the Bank’s short form base shelf prospectus dated August 25, 2021 (the “Base Shelf Prospectus”), Prospectus Supplement No. 1 dated August 26, 2021 (the “Product Supplement”) and Pricing Supplement No. 38 dated February 22, 2022 (the “Pricing Supplement”).

A Holder’s return on the Notes will depend on the performance of the Reference Index over the term of the Notes. Bank of Montreal does not guarantee that a Holder will receive an amount equal to or greater than his or her principal investment in the Notes and does not guarantee that any return will be paid on the Notes at Maturity other than the Minimum Payment Amount. Since the Notes are not protected and the Principal Amount will be at risk, it is possible that a Holder could lose some or substantially all of his or her principal investment in the Notes. See “Certain Risk Factors” in the Base Shelf Prospectus, “Additional Risk Factors Specific to Enhanced Return Notes” in the Product Supplement and “Terms of the Offering — Risk Factors” in the Pricing Supplement.

Prospective investors should carefully consider all of the information set forth in the Pricing Supplement, the Product Supplement and the Base Shelf Prospectus (collectively, the “Prospectus”) and, in particular, should evaluate the specific risk factors set forth under “Suitability for Investment” and “Risk Factors” in the Pricing Supplement.

BMO Nesbitt Burns Inc., one of the Dealers, is a wholly-owned subsidiary of the Bank. As a result, the Bank is a “related issuer” of BMO Nesbitt Burns Inc. for the purposes of National Instrument 33-105 - Underwriting Conflicts. See “Plan of Distribution” in the Base Shelf Prospectus.

The Notes have not been and will not be rated by any credit rating organization. A rating is not a recommendation to buy, sell or hold investments, and may be subject to revision or withdrawal at any time by the relevant rating agency.

The Notes will not be deposits that are insured under the Canada Deposit Insurance Corporation Act or any other deposit insurance regime designed to ensure the payment of all or a portion of a deposit upon the insolvency of the deposit taking financial institution. See “Description of the Notes — Rank; No Deposit Insurance” in the Product Supplement.

==> picture [590 x 66] intentionally omitted <==

The above summary is for information purposes only and does not constitute an offer to sell or a solicitation to purchase Notes. The offering and sale of Notes may be prohibited or restricted by laws in certain jurisdictions. Notes may only be purchased where they may be lawfully offered for sale and only through individuals qualified to sell them. Unless the context otherwise requires, terms not defined herein will have the meaning ascribed thereto in the Pricing Supplement. A copy of the Pricing Supplement, the Product Supplement and the Base Shelf Prospectus can be obtained at www.sedar.com.

“BMO (M-bar roundel symbol)”, “BMO” and “BMO Capital Markets” are registered trademarks of the Bank used under license. The Solactive Equal Weight Canada Banks 5% AR Index is owned, calculated, administered and published by Solactive AG ( “Solactive” ) assuming the role as administrator (the “Index Sponsor” ) under the Regulation (EU) 2016/1011. The name “Solactive” is a registered trademark of Solactive. Solactive is registered with and regulated by the German Federal Financial Supervisory Authority (“ BaFin ”). The Reference Index is a product of Solactive, its affiliates and/or its third-party licensors and has been licensed for use by Bank of Montreal and its affiliates. The Notes are not sponsored, endorsed, sold or promoted by Solactive, or any of its respective affiliates. Neither Solactive, nor its respective affiliates, make any representation regarding the advisability of investing in such product(s).

Client Brochure February 22, 2022

www.bmonotes.com

4