Fengro Announces Agm Results

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FENGRO ANNOUNCES AGM RESULTS

October 21, 2019 - VANCOUVER, BRITISH COLUMBIA: FENGRO Industries

Corp. (TSX-V:FGR) (“FENGRO” or “the Company”) announced today the results

of the Company’s Annual and Extraordinary General meeting s (the “AGM” and

“EGM”) held on October 18, 2019, in Vancouver, BC, Canada.

At the AGM, shareholders voted in favour of all business presented, including

nominations to the board of directors (the “Board”), with Giles Baynham, Keith

Carpenter, David Cather, Duane Lo, and Peter Ruxton, all re-elected to the Board.

Also appointed were Davidson & Company LLP, Chartered Accountants, as the

Company’s auditor, and approv al of the Company’s stock option plan. The EGM

approved the sale of Dusolo Mineraç ão Ltda. t o Geofoscal Comérico, Indústria,

Representações e Transporte de Produtos Agropecuários Ltda.

Corporate Activities

The Board has been reviewing various options to bring a new business into the

Company. A Special Committee of the Board is currently discussing two potential

transactions, which could include a reverse takeover or similar transaction.

On behalf of FENGRO Industries Corp.

Giles Baynham, Chief Executive Officer and Director

For more information contact:

Email: [email protected]

+1 (604) 764 6126

FORWARD LOOKING STATEMENTS

Certain information contained in this press release constitutes “forward-looking information”, within the meaning

of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-

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

“target”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of

such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or

“will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this

press release may include statements regarding the future operating or financial performance of Fengro which

involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and

outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such

statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations.

Among those factors which could cause actual results to di ffer materially are the following: market conditions

and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR

at www.sedar.com. The forward-looking statements included in this press release are made as of the date of

this press release and Fengro disclaims any intention or obligation to update or revise any forward-looking

statements, whether as a result of new information, future events or otherwise, except as expressly required by

applicable securities legislation.

Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the

policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this

press release.