Completes Initial Public Offering TSX Venture Exchange: Xib.p

XIB I CAPITAL CORP.

COMPLETES INITIAL PUBLIC OFFERING

TSX VENTURE EXCHANGE: XIB.P FOR IMMEDIATE RELEASE

Vancouver, British Columbia – December 12, 2018 – XIB I Capital Corp. (“XIB”) (TSX

Venture: XIB.P) is pleased to announce that it has completed its initial public offering as a

capital pool company (“CPC”).

On December 12, 2018, XIB completed an initial public offering of 3,000,000 common shares at

a price of $0.10 per share for gross proceeds to XIB of $300,000 to purchasers in Alberta, British

Columbia and Ontario. PI Financial Corp. acted as sole lead agent in respect of the offering and

received a cash commission, a corporate finance fee and an option to acquire 10% of the

aggregate number of shares sold pursuant to the offering for a period of 24 months from the date

of listing of the common shares on the TSX Venture Exchange (the “Exchange”) at an exercise

price of $0.10 per common share.

XIB has filed the requisite post-closing documentation with the Exchange in order to obtain final

approval of the listing of the common shares.

The directors and officers of XIB are Ted Browne, Jonathan Conlin, Frederic Leigh, Michael

Young and Fabian Monaco. Detailed information regarding each director is contained within the

final prospectus dated November 9, 2018, which is available to the public at www.sedar.com.

For further information please contact Ted Browne, CEO of XIB at 647-943-0736.

Not for distribution to United States newswire services or for dissemination in the United States.

These securities have not been and will not be registered under the United States Securities Act

of 1933, as amended, or the securities laws of any state, and may not be offered or sold in the

United States unless an exemption from registration is available. This press release does not

constitute an offer to sell or the solicitation of any offer to buy these securities in the United

States.

Investors are cautioned that trading in the securities of a CPC should be considered highly

speculative.

XIB is a CPC governed by the policies of the Exchange. XIB’s principal business is the

identification and evaluation of assets or businesses with a view to completing a Qualifying

Transaction.

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.

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Notice on Forward-Looking Information

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. XIB 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 XIB’s control. Such factors include, among other things:

XIB’s ability to identify, evaluate and complete a Qualifying Transaction and other risks and

uncertainties, including those described in XIB’s final prospectus dated November 9, 2018 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, XIB undertakes no obligation to publicly update

or revise forward-looking information.