BB1 Acquisition Corp. Announces Termination of Proposed Qualifying Transaction with Plantext Ltd.

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BB1 ACQUISITION CORP. ANNOUNCES TERMINATION OF

PROPOSED QUALIFYING TRANSACTION WITH PLANTEXT LTD.

FOR IMMEDIATE RELEASE

TORONTO, ONTARIO – January 24, 2020 – BB1 Acquisition Corp. (TSXV: BBA.P) (“BB1” or the

“Corporation”), a capital pool company, announces the termination of its proposed three -cornered

amalgamation (the “PlantExt Transaction”) with PlantExt Ltd. (“PlantExt”). The PlantExt Transaction,

first announced by the Corpora tion on January 24, 2019, was intended to constitute BB1’s “Qualifying

Transaction” as such term is defined in Policy 2.4 of the TSX Venture Exchange (“ TSXV” or the

“Exchange”).

The terms of the share exchange agreement between the parties effective as of August 16, 2019, (the

“Share Exchange Agreement”), have now expired due to the inability of the parties to close the PlantExt

Transaction before December 31, 2019 and the Share Exchange has automatically terminated.

In accordance with the Share Exchange Agreement, Plantext will reimburse the Corporation an aggregate

of $126,467 for costs and expenses incurred by BB1 in connection with the terminated PlantExt

Transaction.

The Corporation has requested the resumption of trading of its common shares on the TS XV. A bulletin

will be issued by the Exchange identifying the date on which the common shares will resume trading.

BB1 will continue to pursue and evaluate other businesses and assets with a view to completing a

Qualifying Transaction and will make further announcements with respect to these efforts as soon as

practically possible.

About BB1 Acquisition Corp.

The Corporation is incorporated under the Business Corporations Act (Ontario) and is a capital pool

company listed on the TSXV. The Corporation has no commercial operations and has no assets other than

cash. For further information please see the final prospectus of the Corporation dated October 5, 2018,

filed on SEDAR at www.sedar.com.

For further information please contact:

Stephen Shefsky

Chief Executive Officer

(416)-366-4200

Cautionary Notes

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the

TSXV) accepts responsibility for the adequacy or accuracy of this release.