ELE.TO · 2020-03-20 12:00:00

Fengro Announces Conversion of Convertible Debenture

Financings Debt & Credit Facilities

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR

DISSEMINATION IN THE UNITED STATES

FENGRO ANNOUNCES CONVERSION OF CONVERTIBLE

DEBENTURE

MARCH 20, 2020 - VANCOUVER, BRITISH COLUMBIA: Fengro Industries Corp.

(TSX-V:FGR) (“Fengro” or “the Company”) is announcing that Tembo Capital

Mining Fund LP has elected to exercise its right to convert the convertible debenture

issued by the Company on June 12, 2018 (as amended). As a result, the Company

will extinguish its liability in the amount of $1, 313,484 of principal and interest in

exchange for 5,472,851 common shares of the Company issued at a price of $0.24

per share.

The convertible debenture entitled Tembo to receive units consisting of one share

and one half of a warrant on conversion. Tembo has waived its right to receive the

warrants.

On behalf of Fengro Industries Corp.

Duane Lo, Director

For more information contact:

+1 (778) 994 6577

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.