Wolf Acquisition Corp. Announces Private Placement

WOLF ACQUISITION CORP. ANNOUNCES PRIVATE PLACEMENT

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR

DISSEMINATION IN THE UNITED STATES

TORONTO, August 12, 2020 (GLOBE NEWSWIRE) – Wolf Acquisition Corp. (TSX-V: WOLF.P)

(the “Company” or “Wolf”) intends to complete a non-brokered private placement financing of up to

4,000,000 common shares of Wolf (the “Common Shares”) at a price of $0.05 per Common Share for

gross proceeds of up to $200,000 (the “Offering”).

The proceeds of the Offering are expected to be used to continue identifying and evaluating businesses or

assets with a view to completing its Qualifying Transaction (as defined in the policies of the TSX Venture

Exchange (the “Exchange”)).

The closing date of the Offering is expected to occur on or about August 17, 2020. All securities issued

by Wolf will be subject to a hold period of four months and one day. Completion of the Offering is

subject to customary closing conditions, including approval of the Exchange.

For further information please contact:

Mack Hosseinian

Corporate Secretary

Telephone: 647-343-3819

About Wolf Resources 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.

Cautionary Note Regarding Forward-looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian

securities legislation. Forward-looking information includes, without limitation, statements regarding the

timing of the Offering, the closing of the Offering, the use of proceeds from the Offering and the

Company’s future plans. Generally, forward-looking information can be identified by the use of forward-

looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”,

“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or

variations of such words and phrases or state that certain actions, events or results “may”, “could”,

“would”, “might” or “will be taken”, “occur” or “be achieved”. Forward- looking information is subject

to known and unknown risks, uncertainties and other factors that may cause the actual results, level of

activity, performance or achievements of Wolf, as the case may be, to be materially different from those

expressed or implied by such forward-looking information. Although Wolf has attempted to identify

important factors that could cause actual results to differ materially from those contained in forward-

looking information, there may be other factors that cause results not to be as anticipated, estimated or

intended. There can be no assurance that such information will prove to be accurate, as actual results and

future events could differ materially from those anticipated in such statements. Accordingly, readers

should not place undue reliance on forward-looking information. Wolf does not undertake to update any

forward-looking information, except in accordance with applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the

securities in the United States. The securities have not been and will not be registered under the

United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws

and may not be offered or sold within the United States or to U.S. Persons unless registered under the

U.S. Securities Act and applicable state securities laws or an exemption from such registration is

available.

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.