MOON River Capital Ltd. Announces Approval of Meeting Matters and Changes Pursuant to New Cpc Policy

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MOON RIVER CAPITAL LTD. ANNOUNCES APPROVAL OF MEETING MATTERS

AND CHANGES PURSUANT TO NEW CPC POLICY

Toronto, Ontario – March 3, 202 2 – Moon River Capital Ltd. ( "Moon River " or the "Company")

(TSXV: MOO.P), a capital pool company (“CPC”) pursuant to Policy 2.4 of the TSX Venture Exchange

(the "TSXV"), is pleased to announce the voting results of its annual and special meeting of shareholders

held on March 1, 2022 in Toronto, Ontario (the "Meeting").

In ad dition to the election of directors, the re -appointment of the auditors and the re -approval of the

Company’s stock option plan, shareholders ratified the adoption of a new general corporate by -law (the

“New By-Law No.1”), which repealed and replaced the Company’s previous general corporate by -law.

The full text of the New By-Law No. 1 is available under the Company’s profile at www.sedar.com.

In accordance with changes to the TSXV’s Policy 2.4 – Capital Pool Companies, which came into effect

as of January 1, 2021 (the " New CPC Policy "), the Company also obtained the requisite approval of

disinterested shareholders of the Company for the following matters: (i) to remove the consequences of

failing to complete a Qualifying Transaction (as that term is defined in the Policies of the TSXV) within 24

months of the Company’s date of listing on the TSXV; (ii) to amend the escrow release conditions and

certain other provisions of the Company’s escrow agreement ; and (iii) to permit for the payment of a

finder’s fee to a Non-Arm’s Length Party (as that term is defined in the Policies of the TSXV) to the CPC

in connection with an arm’s length Qualifying Transaction. All matters submitted to shareholders of the

Company for appro val at the Meeting are more particularly described in the Company’s management

information circulated dated January 28, 2022 (the "Circular"). Please refer to the Circular for further

details with respect to the amendments associated with the New CPC Policy.

Following the results of the Meeting, t he Company will continue to evaluate and review alternative

acquisition opportunities with a view to completing its Qualifying Transaction.

About the Company

The Company is a CPC within the meaning of the policies of the TSXV that has not commenced commercial

operations and has no assets other than cash. Except as specifically contemplated in the CPC policies of the

TSXV, until the completion of a Qualifying Transaction, the Company will not carry on business, other

than the identification and evaluation of companies, business or assets with a view to completing a proposed

Qualifying Transaction. Investors are cautioned that trading in the securities of a CPC is considered highly

speculative.

For further information please contact:

Jamie Levy, CEO, CFO, Treasurer & Director at (416) 567-2440 or [email protected].

Forward-looking Statements

This press release contains forward -looking statements and forward -looking information (collectively, " forward-looking

statements") within the meaning of applicable securities laws. Any statements that are contained in this press release that are not

statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by

terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends", "expects" and similar expressions, which are

intended to identify forward -looking statements. More particularly and wi thout limitation, this press release contains forward -

looking statements concerning: the Company ’s’ evaluation and review of alternative acquisition opportunities with a view to

completing its Qualifying Transaction.

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These forward-looking statements are based on certain assumptions that the Company has made in respect thereof as at the date of

this press release regarding, among other things : the continued evaluation and review of alternative transaction opportunities by

the Company.

Although the Company believes the expectations and material factors and assumptions reflected in these forward -looking

statements are reasonable as of the date hereof, there can be no assurance that these expectations, factors and assumptions w ill

prove to be correct. These f orward-looking statements are not guarantees of future performance and are subject to a number of

known and unknown risks and uncertainties including, but not limited to: changes in general economic, competitive, business,

political and social conditions, including changes in the financial markets; the impact of competitive entities and pricing; the ability

to access various sources of debt and equity capital on favourable terms; changes in applicable laws and regulations and cost s

associated therewith; actions by governmental or regulatory authorities and costs associated therewith; technology and cyber

security risks; natural catastrophes; and certain other risks detailed in the Company's final prospectus dated January 20, 20 20, a

copy of which is availabl e on SEDAR at www.sedar.com. Accordingly, readers should not place undue reliance on the forward -

looking statements contained in this press release.

This list of risk factors should not be c onstrued as exhaustive. Readers are cautioned that events or circumstances could cause

results to differ materially from those predicted, forecasted or projected. The forward -looking statements contained in this

document speak only as of the date of this document. The Company does not undertake any obligation to publicly update or revise

any forward -looking statements or information contained herein, except as required by applicable laws. The forward -looking

statements contained in this document are expressly qualified by this cautionary statement.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility

for the adequacy or accuracy of this release.