St. Davids Capital Inc. Announces Closing of Initial Public Offering

Toronto, Ontario--(Newsfile Corp. - October 14, 2022) - St. Davids Capital Inc. (the "Company") is pleased to announce that on October 14, 2022, it successfully completed its initial public offering ("IPO") to raise gross proceeds of $217,850 pursuant to the final prospectus ("Prospectus") dated July 15, 2022. A total of 2,178,500 common shares of the Company ("Shares") were subscribed for at a price of $0.10 per Share. After completion of the IPO, the Company now has 5,078,500 Shares issued and outstanding. All Shares issued prior to the IPO, including the 2,900,000 Shares held by directors and officers of the Company, are subject to escrow restrictions pursuant to the policies of the TSX Venture Exchange ("TSXV").

Research Capital Corporation (the "Agent"), of Vancouver, British Columbia, acted as agent for the IPO and received a cash commission of $21,785 being 10% of the gross proceeds raised in the IPO, a work fee of $21,000 (inclusive of GST), and agent's options to purchase up to 217,850 Shares at a price of $0.10 per Share exercisable until the date that is 5 years after the Company's Shares are listed on the TSXV.

The Company also granted incentive stock options to its directors and officers to purchase up to 411,533 Shares, which are exercisable at a price of $0.10 per Share until the date that is five years from the date the Shares begin trading on the TSXV, which are subject to escrow restrictions pursuant to the policies of the TSXV.

The Shares were listed on the TSXV at the market close on October 13, 2022, and immediately halt traded pending closing of the IPO. The halt is expected to be lifted and trading of the Shares is expected to commence on or about October 14, 2022 under the symbol "SDCI.P".

The net proceeds of the IPO, together with the proceeds from prior sales of Shares as disclosed in the Prospectus, will be used by the Company to identify and evaluate assets or businesses for acquisition with a view to completing a "Qualifying Transaction" (as that term is defined in TSXV Policy 2.4 - Capital Pool Companies (the "CPC Policy")) under the TSXV's Capital Pool Company ("CPC") program.

The current directors of the Company are Rocco Racioppo, Philip Hampson, William Kennedy, Douglas Harris and Anthony Viele.

About St. Davids Capital Corp.

The Company is designated as a Capital Pool Company by the TSXV. The Company has not commenced commercial operations and has no assets other than cash. The only business of the Company is the identification and evaluation of assets or businesses with a view to completing a "Qualifying Transaction" in accordance with the CPC Policy. The funds raised under the IPO will be used to pursue such Qualifying Transaction. For further information regarding the Company, the offering, and the Company's management team, see the Prospectus filed with the Company's disclosure documents on SEDAR at www.sedar.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Rocco Racioppo
President and Chief Executive Officer
rocrac80@gmail.com

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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