Cairo Resources Announces Closing of Private Placement

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CAIRO RESOURCES INC.

1430-800 West Pender Street, Vancouver, BC V6C 2V6

CAIRO RESOURCES ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Vancouver, B.C., July 16, 2020 – Cairo Resources In c. (TSX-V: QAI.H) (the “Company ” or

“Cairo ”), a Capital Pool Company listed on the NEX Board of the TSX Venture Exchange (the

“Exchange ”), announces that it has completed its non-brokered private placement of 3,375,000

common shares at a price of C$0.16 per common share for gross proceeds of C$540,000 (the

“Offering”).

The Company will apply the net proceeds of the Offering to pursue a Qualifying Transaction and

for general working capital purposes.

The Company paid commissions to eligible finders un der the Offering totaling C$30,300. All

securities issued or issuable under the Offering ar e subject to a four-month hold period expiring

on November 17, 2020 in addition to such other rest rictions as may apply under applicable

securities laws in jurisdictions outside of Canada.

Closing of this Offering is subject to the receipt of all necessary regulatory approvals including

that of the Exchange.

About Cairo

The Company is a Capital Pool Company presently lis ted on the NEX board of the Exchange.

The Company has 5,256,473 common shares issued and outstanding and no convertible

securities.

For further information please contact Darryl Cardey at (604) 638-8063.

ON BEHALF OF THE BOARD

(signed) “ Darryl Cardey ”

Darryl Cardey

President and CEO

Neither TSX Venture Exchange nor its Regulation Ser vices Provider (as that term is defined in

the policies of the Exchange) accepts responsibilit y for the adequacy or accuracy of this

release.