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Pinehurst Capital I Change to Location of Annual and Special Meeting

Shareholder Meetings

11358003-00391579.DOC:

Pinehurst Capital I

Change to Location of Annual and Special Meeting

TORONTO, December 24, 2020 (GLOBE NEWSWIRE) — Pinehurst Cap ital I Inc. (TSXV: PHT.P)

(the " Corporation " or " Pinehurst "), a capital pool company listed on the TSX Venture Ex change,

announces a change to the location of its annual and speci al meeting to be held on December 29, 2020

at 1:00 p.m. (Toronto time) (the " Meeting ").

The new location for the Meeting will be 130 King St. We st, Suite 2210, Toronto, Ontario, M5X 1E4.

There is no change in the date or time of the Meeting.

Vote by proxy – Instructions for voting by proxy are contained in the November 26, 2020 Notice of

Meeting and accompanying Management Information Circular a nd Instrument of Proxy sent to

shareholders.

For more information concerning the Corporation, please refer to the Corporation’s profile on the

SEDAR website at www.sedar.com .

For further information, please contact:

David Rosenkrantz

Pinehurst Capital I Inc., CEO

e: [email protected]

p: +1 416-865-0123

Neither 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.