1021916 B.C. Ltd. Announces Private Placement

Vancouver, British Columbia--(Newsfile Corp. - October 7, 2019) - 1021916 B.C. Ltd. (the "Company") announces a non-brokered private placement of up to 10,000,000 shares at a price of $0.28 per share for gross proceeds of up to $2,800,000 (the "Offering").

Company directors have determined it advantageous for the Company to strengthen its balance sheet and effect wider distribution of its share capital as a means to attract a potentially accretive business opportunity. The net proceeds from the Offering will be used by the Company for:

1. settlement of existing payables and short term liabilities;
2. assessment and due diligence costs associated with the Company's pursuit of an acquisition;
3. additional working capital.

This Offering is being made available by way of prospectus exemptions in Canada and in such other jurisdictions as the Company may agree where the shares can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements.

Closing of the Offering is subject to several conditions, including receipt of all necessary corporate and regulatory approvals. All securities issued in connection with the Offering will be subject to a hold period of 4 months commencing on the date of distribution of the securities, or as required by an Exchange as part of any listing application.

About 1021916 B.C. Ltd.

The Company originated as one of three spun-out "Reporting Issuers" upon completion of a Plan of Arrangement undertaken by Valens GroWorks Corp. (formerly Genovation Capital Corp.) in March 2015. The Company is actively seeking a new business opportunity that offers potential for near term cash flow and sustainable growth as a means to create shareholder value.

ON BEHALF OF 1021916 B.C. LTD.

(signed) "Rob van Santen"
CEO & Director

For further information, please contact:

Rob van Santen, CA, CPA, CMT
Telephone: (604) 608-1999

Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law. The Company will provide further updates respecting these initiatives as developments occur. There can be no assurance that interests in any or all of these or additional projects being pursued will be acquired, funded and/or commercialized.

1021916 B.C. LTD.

400 - 1771 Robson Street Vancouver, BC, Canada V6G 1C9 T. 604.608.1999 F. 778.379.9990

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/48523