Spitfyre Capital Inc. Completes Initial Public Offering; Common Shares Will Commence Trading on the TSX Venture Exchange

Spitfyre Capital Inc. Completes Initial Public Offering; Common Shares Will Commence Trading on the

TSX Venture Exchange

Toronto, Ontario--(Newsfile Corp. – June 17, 2022) – Spitfyre Capital Inc. (TSXV: FYRE) (the “Corporation”)

is pleased to announce that it has successfully completed its initial public offering of 1,250,000 common

shares (the “Common Shares”) at $0.20 per share (the “ Offering Price”) for gross proceeds of $250,000

(the “Offering”). As a result of this issuance, the Corporation has 5,750,000 Common Shares issued and

outstanding of which 4,500,000 Common Shares are subject to escrow restrictions as disclosed in the

Corporation’s amended and restated prospectus dated May 13, 2022, amending and restating the

prospectus dated December 23, 2021, a copy of which may be obtained at www.sedar.com. Hampton

Securities Limited (the “Agent”) acted as agent for the Offering. In connection with the Offering, the Agent

received a cash commission of $25,000.00, representing 10% of the gross proceeds of the Offering, and

compensation warrants to purchase up to 125,000 Common Shares, representing 10% of the Common

Shares issued pursuant to the Offering, for a period ending 36 months after the date of issuance at the

Offering Price.

The Corporation is a capital pool company pursuant to Policy 2.4 (the “ CPC Policy”) of the TSX Venture

Exchange (the “Exchange”). Except as specifically contemplated in the CPC Policy, until the completion of

its “Qualifying Transaction” (as defined in the CPC Policy), the Corporation 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.

The Common Shares are expected to commence trading on the Exchange under the symbol “FYRE” within

two days following the date on which the Exchange issues its bulletin evidencing its final acceptance of

the Offering.

Investors are cautioned that trading in the securities of a capital pool company is considered highly

speculative.

For further information, please contact:

Matthew McMillan, Chief Executive Officer and Director, at (905) 484-7698.

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

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