Announces Termination of Proposed Qualifying Transaction

Cassowary Capital Corporation Limited

Announces Termination of Proposed Qualifying Transaction

THIS PRESS RELEASE IS NOT FOR PUBLICATION OR DISSEMINATION IN THE UNITED

STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A

VIOLATION OF UNITED STATES SECURITIES LAW.

CALGARY, ALBERTA – May 29, 2019 – Cassowary Capital Corporation Limited ("Cassowary" or the

"Corporation") (TSX VENTURE: BIRD.P) announces that, further to the Corporation's news release

dated November 22, 2018, it has terminated the non-binding letter of intent with Lobo Genetics Inc.

("Lobo") and will no longer be proceeding with the proposed reverse takeover of Cassowary by Lobo.

The transaction was intended to constitute Cassowary's Qualifying Transaction (as such term is defined

by the TSX Venture Exchange (the " TSXV")). No deposit or cash advance was made by Cassowary to

Lobo in connection with the proposed Qualifying Transaction.

The Corporation is now evaluating other acquisition opportunities with a view to completing a Qualifying

Transaction.

About the Corporation

Cassowary is a capital pool company within the meaning of the policies of the TSXV that has not

commenced commercial operations and has no assets other than cash. Cassowary's business is to identify

and evaluate businesses and assets with a view to completing a Qualifying Transaction under the policies

of the TSXV.

Forward Looking Information

This news release contains "forward‐looking information" and "forward‐looking statements"

(collectively, "forward‐looking statements") within the meaning of the applicable Canadian securities

legislation. All statements, other than statements of historical fact, are forward‐looking statements and are

based on expectations, estimates and projections as at the date of this news release. Any statement that

involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives,

assumptions, future events or performance (often but not always using phrases such as "expects", or "does

not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled",

"forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that

certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be

achieved) are not statements of historical fact and may be forward‐looking statements. In this news

release, forward‐looking statements relate, among other things, to any proposed future Qualifying

Transaction of Cassowary. Forward‐looking statements are necessarily based upon a number of estimates

and assumptions that, while considered reasonable, are subject to known and unknown risks,

uncertainties, and other factors which may cause the actual results and future events to differ materially

from those expressed or implied by such forward‐looking statements. Such factors include, but are not

limited to: general business, economic, competitive, political and social uncertainties; and the delay or

failure to receive board, shareholder or regulatory approvals. There can be no assurance that such

statements will prove to be accurate, as actual results and future events could differ materially from those

anticipated in such statements. Accordingly, readers should not place undue reliance on the

forward‐looking statements and information contained in this news release. Except as required by law,

Cassowary assumes no obligation to update the forward‐looking statements of beliefs, opinions,

projections, or other factors, should they change, except as required by law.

For further information, please contact:

Stuart Olley, Chief Executive Officer and Director at:

Telephone: (403) 298-1814

Fax: (403) 263-9193

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 news

release.