MG Capital Corporation Announces Closing of Initial Public Offering

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MG Capital Corporation Announces Closing of Initial Public Offering

CALGARY, ALBERTA – April 30, 2018. MG Capital Corporation (the “Corporation”) (TSXV: MGX.P) is

pleased to announce that it has successfullycompleted its initial public offering of 2,500,000 common shares of

the Corporation (“Common Shares”) at a price of $0.10 per Common Share for gross proceeds of $250,000 (the

“Offering”). After completion of the Offering, the Corporation now has 5,510,000 Common Shares issued and

outstanding.

Leede Jones Gable Inc. (the “Agent”) acted as the agent for the Offering and in connection therewith, the

Corporation granted the Agent non-transferable options (the “Agent’s Options”) which entitle the Agent to

purchase 250,000 Common Shares at an exercise price $0.10 per Common Share. The Agent’s Options will

expire 24 months from the date the Common Shares were listed on the TSX Venture Exchange (the

“Exchange”), which was April 30 , 2018. In connection with the Offering, the Agent also received a cash

commission equal to 10% of the gross proceeds of the Offering, a corporate finance fee and was reimbursed for

its legal fees and reasonable expenses.

Concurrent with the closing of the Offering, the Corporation also granted options to acquire an aggregate of

540,000 Common Shares at an exercise price of $0.10 per Common Share to directors and officers of the

Corporation, which options expire five years from the date of grant.

The Corporation is a “capital pool company” and intends to use the net proceeds of the Offering to identify and

evaluate assets or businesses for acquisition with a view to completing a “Qualifying Transaction” under the

policies of the Exchange. On April 26, 2018, the Exchange issued a bulletin listing the Common Shares as of

market open on April 30, 2018 and immediately halting trading pending completion of closing (the “Exchange

Bulletin”). The Common Shares will resume trading under the trading symbol “MGX.P” on May 3, 2018.

Investors are cautioned that trading in the securities of a capital pool company should be considered highly

speculative.

For further information, please contact:

MG Capital Corporation

Peter McKeown – Chief Executive Officer, Chief Financial Officer, Corporate Secretary and Director

Phone: (403) 689-4052

Forward-Looking Information Cautionary Statement

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or the

Corporation’s future performance. The use of any of the words “could”, “expect”, “believe”, “will”,“projected”,“estimated” and similar

expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the

Corporation’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In

particular, the Corporation’s stated use of proceeds and its expectation as to the resumption of trading of the Common Shares on the Exchange

constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking

information. Readers are cautioned not to place undue reliance on forward-looking information. The statement made in this press release are made

as of the date hereof. The Corporation disclaims any intention or obligation to publicly update or revise any forward-looking information, whether

as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT

TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS

RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.