Announces Completion of Initial Public Offering and Non-Brokered Private Placement

BLUE RHINO CAPITAL CORP.

ANNOUNCES COMPLETION OF INITIAL PUBLIC OFFERING AND NON-BROKERED PRIVATE PLACEMENT

July 14, 2020 – VANCOUVER, CANADA – Blue Rhino Capital Corp. (the “Company”) is pleased to announce that it has completed an initial public offering (the “Offering”) pursuant to which it has issued an aggregate of 2,000,000 common shares (“Common Shares”) at a price of $0.10 per Common Share to raise aggregate gross proceeds of $200,000 pursuant to a final prospectus dated April 16, 2020 (the “Prospectus”).

Haywood Securities Inc. (the “Agent”) acted as agent in the Offering, in connection with which the Agent received a cash commission of $20,000, corporate finance fee of $10,000 and an aggregate of 200,000 compensation options, each such compensation option entitling the Agent to acquire one Common Share at an exercise price of $0.10 expiring 24 months from the date that the Common Shares are listed on the TSX Venture Exchange (the “TSXV”).

Upon closing of the Offering and as disclosed in the Prospectus, the Company completed a non-brokered private placement (the “Sidecar”) pursuant to which it issued 1,400,000 Common Shares at a price of $0.10 per Common Share to raise aggregate gross proceeds of $140,000. All Common Shares issued in connection with the Sidecar are subject to a statutory hold period expiring on November 15, 2020.

At the closing of the Offering, the Company also granted stock options (the “Options”) to directors and officers of the Company to acquire up to an aggregate of 200,000 Common Shares. Each Option is exercisable to acquire one Common Share at a price of $0.10 any time prior to July 14, 2030.

Following completion of the Offering and Sidecar, the Company has 5,400,000 Common Shares issued and outstanding, 2,000,000 of which are subject to escrow restrictions as disclosed in the Prospectus. The TSXV has accepted the Company’s listing application and the Common Shares are anticipated to resume trading on the TSXV at the opening of business on Thursday, July 16, 2020, under the symbol “RHNO.P”.

About the Company

The Company is a capital pool company (“CPC”) within the meaning of the policies of the TSXV that has not commenced commercial operations and has no assets other than cash. The current directors and officers of the Company consists of Anton Drescher (Director, President, Chief Executive Officer and Corporate Secretary), Rowland Perkins (Director), David Cross (Chief Financial Officer) and David Brett (Director). Except as specifically contemplated in the CPC policies of the TSXV, until the completion of its “Qualifying Transaction” (as defined therein), the Company 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”.

For further information please contact:

Anton Drescher Director, President, Chief Executive Officer and Corporate Secretary Tel. (604) 685-1017

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.

Forward Looking Information

This news release contains statements about the Company’s expectations regarding the completion of the application for listing and the commencement of trading on the TSXV that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as final listing approval from the TSXV. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include failure to fulfill conditions of listing on the TSXV and inability to obtain required regulatory approvals. The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.

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