Gunpowder Capital Corp. Acquires Patriot Property Services Debt

Toronto, Ontario--(Newsfile Corp. - October 24, 2017) - Gunpowder Capital Corp., (CSE: GPC), (CSE: GPC.PR.A), (OTCQB: GNPWF), (FSE: YS6N), ("Gunpowder" or the "Corporation") announced today that it has agreed to purchase a secured note backed by the securities of Patriot Property Services, Inc.

Gunpowder previously assisted a new management team with the acquisition of Patriot and funded part of the purchase price. Gunpowder is acquiring the Vendor Take Back note issued to the previous owner.

Gunpowder has agreed to pay One Hundred and Twenty Thousand Dollars ("$120,000.00") USD for the note. The remaining principal on the note Gunpowder has agreed to purchase in full, is One Hundred and Thirty-Eight Thousand Dollars ("$138,000.00") USD. The note will net Thirty-Seven Thousand, Two Hundred and Thirty-Three Dollars ("$37,233.00") USD with interest over the remaining term of the loan which is 32 months. The secured note bears interest at a rate of five percent ("5%") per annum.

Patriot Property Services, Inc. is based in Key Largo, Florida and provides property management services to various Home Owner Associations ("HOAs"). Unaudited results for the prior fiscal year indicate revenue of approximately USD $1 Million. On July 13^th, 2017 Gunpowder announced that it had provided M&A Financing to PMG-Patriot Inc., so that PMG-Patriot Inc., could acquire Patriot Property Services, Inc. The terms the M&A Financing still remain in good standing.

About Gunpowder Capital Corp.

Gunpowder Capital Corp., is a merchant bank and advisory services firm based in Toronto, Ontario, Canada. Gunpowder invests in both publicly traded and private businesses that have successful management teams and attractive economic models. Gunpowder partners with these businesses to support their growth initiatives with its proven methodology of appropriate financing and structured exits. Gunpowder offers debt financing, including mezzanine and bridge loans, equity financing and advisory services. Gunpowder is also building a portfolio of companies in which it takes a long term position and view. For more information please visit www.gunpowdercapitalcorp.com.

For further information please contact:

Mr. Frank Kordy                                                                                                                                            
CEO & Director                                                                                                        
Gunpowder Capital Corp.                                                                                       
T: (647) 466-4037                                                                                                             
E: frank.kordy@gunpowdercapitalcorp.com                

Mr. Paul Haber
CFO
Gunpowder Capital Corp.
T: (416) 363-3833
E: paul.haber@gunpowdercapitalcorp.com

Forward-Looking Statements

Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

— 30 —