Sierra Madre Announces Change of Management

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NEWS RELEASE

SIERRA MADRE ANNOUNCES CHANGE OF MANAGEMENT

August 21, 2020

Sierra Madre Developments Inc. (the “Company”) (TSXV: SMG.H) announces that Raymond

Wladichuk has resigned as the Chief Executive Officer, Chief Financial Officer and a director of

the Company, and that Hani Zabaneh has joined the board of directors and been appointed Chief

Executive Officer.

Mr. Zabaneh currently consults with companies providing assistance with funding, mergers and

acquisitions, and transitioning to public markets. From 2007 to 2019 he was a principal of

Orange Capital Corporation and from January 2015 to October 2016, Mr. Zabaneh was the Vice-

President Corporate Development at Eventbase Technology Inc. Prior thereto, Mr. Zabaneh was

the Vice President Administration of Metrobridge Networks Corp. from 2005 to 2007 and from

2008 to 2012. Mr. Zabaneh has been a director and officer of public companies since 2007.

Mr. Zabaneh obtained an Advanced Diploma in Geographic Information Systems in 1996 from

the British Columbia Institute of Technology and a Bachelor of Science (Honours) from Queens

University in 1993.

ON BEHALF OF THE BOARD:

“Robert Anderson”

Robert Anderson, Director

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.