Plb Amends Definitive Agreement with International GOLD Explorer, Kainantu Resources Limited; Announces Terms of Concurrent Financing

PLB CAPITAL CORP.

(TSX-V: PLB.P)

PLB AMENDS DEFINITIVE AGREEMENT WITH INTERNATIONAL

GOLD EXPLORER, KAINANTU RESOURCES LIMITED; ANNOUNCES

TERMS OF CONCURRENT FINANCING

Vancouver, B.C. - August 26, 2020 - PLB Capital Corp. (“PLB” or the “Company”), a capital pool company

pursuant to Policy 2.4 of the TSX Venture Exchange (the “TSX -V”), announces that further to its press

release dated June 16, 2020 regarding the signing of a binding definitive share exchange agreement (the

“Definitive Agreement”) to acquire Kainantu Resources Limited (“KRL”) (the “Transaction”), the Company,

KRL and the shareholders of KRL executed an amendment to the Definitive Agreement on August 5, 2020

(the “Amendment Agreement”).

Pursuant to the Amendment Agreement , the Company will issue common shares in the capital of PLB

(“PLB Shares”) to the holders of KRL common shares (“KRL Shares”) on the basis of one PLB Share for

each KRL Share at a deemed price of $0. 20 per KRL Share . In addition, PLB will issue an aggregate of

5,000,000 deferred PLB Shares to the holders of KRL Shares, pro rata in accordance with their holdings of

KRL Shares as of the date of th e Definitive Agreement, as additional consideration in the event certain

milestones are achieved by the resulting issuer following the closing of the Transaction.

Further details on the Amendment Agreement can be found under PLB’s SEDAR profile at www.sedar.com.

Additionally, KRL has arranged a non-brokered private placement (the “Financing”) to raise aggregate gross

proceeds of not less than $1,000,000 and up to $3,000,000 through the issuance of a minimum of 5,000,000

and up to 15,000,000 units (each a “Unit”). Each Unit will consist of one KRL share and one half of a share

purchase warrant (each whole warrant, a “KRL Warrant”). Each KRL Warrant will be exercisable at a price

of $0.40 per share for a period of 36 months. The KRL Shares and KRL Warrants issuable pursuant to the

Financing will be exchange d for common shares and warrants of PLB on the same terms. The Financing

is expected to complete immediately prior to the closing of the Transaction.

The proceeds of the Financing will be utilized for payments due pursuant to exploration costs on KRL’s gold

tenements, general working capital , and the Transaction. Insiders of KRL are expected to participate in

~40% of the Financing. Finder’s fees will apply to the balance of the proceeds raised from the Units sold to

arm’s length parties to the Transaction, consisting of 7% to be paid in cash or Units and 11% to be issued

as warrants bearing the same terms of the KRL Warrants. The completion of the Financing is subject to the

approval of the TSX-V.

For further information, please contact:

Giuseppe (Pino) Perone

CEO

PLB Capital Corp.

Phone: 604.609.3350

E-Mail: [email protected]

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

V) accepts responsibility for the adequacy or accuracy of this release.

PLB CAPITAL CORP.

(TSX-V: PLB.P)

Disclaimer and Forward-Looking Information

Statements contained in this release that are not historical facts are forward-looking statements that involve

various risks and uncertainty affecting the business of PLB. In making the forward-looking statements, PLB

has applied certain assumptions that are based on information available, including PLB’s strategic plan for

the near and mid-term. There can be no assurance that such information will prove to be accurate, as actual

results and future events could differ materially from those anticipated in su ch statements. Accordingly,

readers should not place undue reliance on forward-looking information. PLB does not undertake to update

any forward-looking information, except in accordance with applicable securities laws.

The TSX -V has in no way passed upon the merits of the Transaction and has neither approved nor

disapproved the contents of this news release.

All information contained in this release relating to KRL was provided by KRL to the Company for inclusion

herein. The Company has not independently verified such information and shall bear no liability for any

misrepresentation contained therein.

Completion of the Transaction is subject to a number of conditions, including but no t limited to, TSX -V

acceptance and if applicable pursuant to TSX -V requirements, majority of the minority shareholder

approval. Where applicable, the Transaction cannot close until the required shareholder approval is

obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement

to be prepared in connection with the Transaction, any information released or received with respect to the

Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a

capital pool company should be considered highly speculative.