Rifco Corrects Typographic Mistake in January 11, 2022 Press Release

Red Deer, Alberta--(Newsfile Corp. - January 11, 2022) - Rifco Inc. (TSXV: RFC) ("Rifco" or the "Company") issued a press release on January 11, 2022 announcing that it has received a final order from the Court of Queen's Bench of Alberta approving the proposed plan of arrangement (the "Arrangement") pursuant to which Chesswood Group Limited ("Chesswood") will acquire all of the issued and outstanding common shares of Rifco (the "Rifco Shares") by way of a statutory plan of arrangement under the Business Corporations Act (Alberta).

Due to a typographic mistake, the press release indicated that it is expected that the Arrangement will close on January 14, 2021.

Please note that at this time it is expected that the Arrangement will close on January 14, 2022.

About Rifco Inc.

Rifco is focused on being the best alternative auto finance company through its wholly owned subsidiary Rifco National Auto Finance Corporation. Our mission is to help deserving Canadians own automobiles.

Rifco seeks to create sustainable long-term competitive advantages through personalized partnerships with dealers, innovative products, the use of industry-leading data and analytics, and leading collections practices. Rifco's corporate culture fosters employees that are highly engaged innovative and performance driven.

Caution Regarding Forward-Looking Information

This press release may contain forward-looking statements with respect to the Company, its products and operations and the contemplated Arrangement. These statements generally can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of the Company discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulations, and the factors described under "Risk Factors" in the Management Information Circular of the Company prepared in connection with the Meeting, Management's Discussion and Analysis and Annual Information Form of the Company which are available at www.sedar.com. The cautionary statements qualify all forward-looking statements attributable to the Company and persons acting on their behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and the Company has no obligation to update such statements.

Neither the 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 release.

All trade names are the property of their respective owners.

SOURCE Rifco Inc.

For further information: MEDIA CONTACTS: Rifco Inc.: Warren Van Orman, Vice President and Chief Financial Officer, 403-314-1288 Ext 7007

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/109724