Turquoise Capital Corp. Announces Proposed Private Placement

August 3, 2016 - Vancouver, British Columbia. TURQUOISE CAPITAL CORP. (“Turquoise”) (NEX: TQC.H), a capital pool company, announces that its board of directors have approved a proposed private placement financing of up to 2,222,222 common shares at $0.0675 per share for gross proceeds of up to $150,000 (the “Offering”). Turquoise anticipates that its directors and officers will subscribe for $60,000 of the Offering and will be completed by August 25, 2016.

Proceeds of the Offering will be used for identifying business acquisitions as well as for general working capital and corporate purposes.

Closing of the proposed Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange.

About Turquoise

Turquoise was incorporated November 14, 2012 under the Business Corporations Act (British Columbia). Turquoise is a CPC as defined by the CPC Policy. On June 28, 2013, Turquoise completed its initial public offering and its common shares were listed for trading on the Exchange on July 3, 2013. As disclosed in its final prospectus dated April 15, 2013, Turquoise’s business has been restricted to the identification and evaluation of businesses or assets for the purpose of completing its Qualifying Transaction.

For further information please contact:

Turquoise Capital Corp.

Devon Brown, CFO (250) 514-9714

Information set forth in this news release contains forward-looking statements. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Turquoise cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Turquoise’s control. Such factors include, among other things: risks and uncertainties relating to Turquoise’s ability to complete a Qualifying Transaction; and other risks and uncertainties, including those described in Turquoise’s Final Prospectus dated April 15, 2013 filed with the Canadian Securities Administrators and available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Turquoise undertakes no obligation to publicly update or revise forward-looking information.

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.