Prestwick Capital Corporation Announces Completion of Initial Public Offering

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PRESTWICK CAPITAL CORPORATION LIMITED

PRESS RELEASE

PRESTWICK CAPITAL CORPORATION ANNOUNCES COMPLETION OF INITIAL

PUBLIC OFFERING

For Immediate Release

Calgary, Alberta – August 1, 2023. Prestwick Capital Corporation Limited (TSXV: PWIK) (“Prestwick” or

the “ Corporation”), a capital pool company, is pleased to announce that it has completed its initial

public offering of 2,000,000 common shares at the price of $0.10 per common share for gross proceeds

of $200,000 (the “Offering” or the “ IPO”) and has filed for listing as a Capital Pool Company on the TSX

Venture Exchange (the “ TSXV”). Canaccord Genuity Corp. (the “ Agent”) acted as agent under the

Offering. The common shares of Prestwick were approved for listing on the TSXV on July 31, 2023 and

are expected to commence trading on the TSXV on August 2, 2023 under the trading symbol “PWIK”.

As a result of the closing of the O ffering, Prestwick now has 11,050,100 common shares issued and

outstanding (9,050,100 of which are subject to escrow restrictions), 200,000 common shares reserved

for issuance upon the exercise of agent’s options granted upon completion of the IPO (the “ Agent’s

Options”) and 1,105,000 common shares reserved for issuance upon the exercise of stock options issued

to directors/officers of the Corporation.

The Agent received a cash commission equal to 10% of the total gross proceeds of the IPO, a corporate

finance fee and the Agent’s Options exercisable at a price of $0.10 per common share up to August 1,

2028.

The net proceeds of the Offering will be used by the Corporation to identify and evaluate assets or

businesses for acquisition with a view to completing a “Qualifying Transaction” under the Capital Pool

Company program of the TSXV as disclosed in the Corporation’s prospectus dated May 12, 2023.

The following individuals comprise Prestwick’s board of directors and management team: Rufus Round

(CEO and Director), Gordon Chmilar (CFO, Corporate Secretary and Director), Rupert Williams (Director)

and Angus Campbell (Director).

FOR FURTHER INFORMATION, PLEASE CONTACT:

Prestwick Capital Corporation Limited

Gordon Chmilar, Chief Financial Officer and Director

Telephone: (403) 589-2468

Email: [email protected]

The forward-looking statements contained in this press release are made as of the date of this press release, and

Prestwick does not undertake any obligation to update publicly or to revise any of the included forward -looking

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

securities law.

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THIS PRESS RELEASE, REQU IRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS

SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A

SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED S TATES. THESE

SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933,

AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR

TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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

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

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