Roosevelt Capital Group Inc. Announces Termination of Letter of Intent for Proposed Qualifying Transaction

Calgary, Alberta--(Newsfile Corp. - April 21, 2020) - Roosevelt Capital Group Inc. (TSXV: ROSV.P) ("Roosevelt") announces that the letter of intent entered into with Anahit International Corp. ("Anahit"), previously announced on December 31, 2019, has been terminated by Roosevelt as the parties were unable to enter into a definitive agreement prior to the deadline. Roosevelt continues to pursue opportunities for a potential qualifying transaction.

For further information, please contact:

Bruce Bent
President, Chief Executive Officer, and Chief Financial Officer

Roosevelt Capital Group Inc.

Telephone: + 1 (905) 567-3431
Email: bbent@msw.on.ca

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.

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the future business and operations of Roosevelt. 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. Any such forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "projects", "plans" and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and Roosevelt disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on any such forward-looking statements.

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