Holly Street Capital Ltd. and Wolf Acquisition Corp. Terminate Proposed Qualifying Transaction

JOINT PRESS RELEASE

HOLLY STREET CAPITAL LTD.

c/o 1500 – 1055 West Georgia Street

Vancouver, BC V6E 4N7

WOLF ACQUISITION CORP.

84 Marion Street

Toronto, ON M5V 3C7

July 16, 2020 TSX-V: HSC.P & TSX-V: WOLF.P

HOLLY STREET CAPITAL LTD. AND WOLF ACQUISITION CORP.

TERMINATE PROPOSED QUALIFYING TRANSACTION

VANCOUVER, B.C. – Holly Street Capital Ltd. (TSX-V: HSC.P) (“Holly”), a capital pool company listed on the

TSX Venture Exchange (the “ Exchange”), and Wolf Acquisition Corp. (TSX -V: WOLF .P) (“ Wolf”), also a

capital pool company listed on the Exchange, announce that they have decided not to proceed with their

proposed business combination with Jasper Interactive Studios Inc. pursuant to a letter of intent date d

June 2, 2020, as amended.

Each of Holly and Wolf will resume their respective searches for new business opportunities.

About Holly Street Capital Ltd.

Holly is designated as a Capital Pool Company under Exchange Policy 2.4. Holly has not commenced

commercial operations and has no assets other than cash. Holly’s objective is to identify and evaluate

businesses or assets with a view to completing a Qualifying Transaction (as defined in Exchange policies).

Any proposed Qualifying Transaction must be approved by the Exchange and, in the case of a Non-Arm’s

Length Qualifying Transaction, must also receive majority approval of the minority shareholders. Until

the completion of a Qualifying Transaction, Holly will not carry on any business other than the

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

Transaction.

Holly currently has 5,200,00 0 shares outstanding on a f ully-diluted basis, consisting of 4,500,000 shares

and 700,000 options to acquire shares at $0.10 per share.

ON BEHALF OF THE BOARD OF DIRECTORS OF HOLLY STREET CAPITAL LTD.

Joel Freudman

CEO

Contact: (647) 880-6414

About Wolf Acquisition Corp.

Wolf is designated as a Capital Pool Company under Exchange Policy 2.4. Wolf has not commenced

commercial operations and has no assets other than cash. Wolf’s objective is to identify and evaluate

businesses or assets with a view to completing a Qualifying Transaction. Any proposed Qualifying

Transaction must be approved by the Exchange and, in the case of a Non -Arm’s Length Qualifying

Transaction, must also receive majority approval of the minority shareholders. Until the completion of a

Qualifying Transaction, Wolf will not carry on any business other than the identification and evaluation of

businesses or assets with a view to completing a proposed Qualifying Transaction.

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Wolf currently has 6,350,001 shares outstanding on a fully -diluted basis, consisting of 5,500,001 shares

and 850,000 options to acquire shares at $0.10 per share.

ON BEHALF OF THE BOARD OF DIRECTORS OF WOLF ACQUISITION CORP.

Mack Hosseinian

Corporate Secretary

Contact: (647) 343-3819

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.

The information in this news release includes certain information and statements about management' s

view of future events, expectations, plans and prospects that constitute forward looking statements,

including statements relating to the resumption of searches by Holly and Wolf for new corporate

opportunities. These statements are based upon assumptions that are subject to significant risks and

uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual

results, expectations, achievements or performance may differ materially from those anticipated and

indicated by these forward looking statements. Any number of factors could cause actual results to differ

materially from these forward -looking statements. Although Holly and Wolf , as applicable, believe that

the expectations reflected in forward looking statements are reasonable, they can give no assurances that

the expectations of any forward looking statements will prove to be correct. Except as required by law,

Holly and Wolf each disclaim any intention and assume no obligation to update or revise any forward

looking statements to reflect actual results, whether as a result of new information, future events, changes

in assumptions, changes in factors affecting such forward looking statements or otherwise.