Barolo Ventures Financing Proceeds Released from Escrow

BAROLO VENTURES CORP.

1600 - 609 Granville Street

Vancouver, B.C. V7Y 1C3

(778) 331-8505

BAROLO VENTURES FINANCING PROCEEDS RELEASED FROM ESCROW

Vancouver, British Columbia, Canada – October 02, 2018– Barolo Ventures Corp. (TSX-V: BVC.H) (the

“Company”), is pleased to announce that the subscription receipts relating to the private placement (the

"Financing") that closed on August 22, 2018 have automatically converted into 12,000,000 units of the

Company. Each unit consists of one common share and one share purchase warrant. Each share

purchase warrant is exercisable for one additional common share at a price of seven cents per common

share until October 2, 2019. The securities have a hold period expiring on December 23, 2018. The

Financing proceeds of $600,000 have been released from escrow.

As a result of the conversion of the subscription receipts, The Emprise Special Opportunities Fund (2017)

Limited Partnership (the “Emprise LP2017”) has ownership and direction or control over 10,000,000

common shares of the Company, representing 71.4% of the issued and outstanding common shares of

the Company (or 20,000,000 common shares and 83.3% of the Company’s then outstanding common

shares of the Company on a partially diluted basis, assuming exercise of the Emprise LP2017’s share

purchase warrants). Neither the Company nor, to the knowledge of the Company after reasonable

inquiry, the Emprise LP2017, have knowledge of any material information concerning the Company or its

securities which has not been generally disclosed.

The Company has been advised that the securities were purchased by the Emprise LP2017 for

investment purposes and the Emprise LP2017 has no present intention to acquire further securities of

the Company, although the Emprise LP2017 may, in the future, acquire or dispose of securities of the

Company through the market or otherwise, as circumstances or market conditions warrant.

The proceeds of the Financing will be used by the Company to settle current indebtedness and for

working capital purposes. The Company is now actively investigating new business opportunities, with a

view to graduating back to the main board of the TSX Venture Exchange.

To obtain a copy of the early warning report filed under applicable Canadian provincial securities

legislation, please go to the Company’s profile of SEDAR.

For further information, please contact Scott Ackerman at [email protected] or

778.331.8505.

On behalf of the Board,

Barolo Ventures Corp.

Scott Ackerman, Director

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.