Pardus Ventures Inc. Completes Initial Public Offering as a Capital Pool Company

Vancouver, British Columbia--(Newsfile Corp. - July 27, 2023) - Pardus Ventures Inc. (TSXV: PDVN.P) ("Pardus") is pleased to announce that it has completed its initial public offering of 2,000,000 common shares (the "IPO") raising gross proceeds of $200,000 (the "Proceeds") pursuant to a prospectus dated May 8, 2023. A total of 2,000,000 common shares in the capital of Pardus (the "Shares") were subscribed for at a price of $0.10 per Share.

Leede Jones Gable Inc. acted as agent for the IPO (the "Agent"). The Agent received a cash commission equal to 10% of the Proceeds and a corporate finance fee as well as warrants to purchase 200,000 Shares at a price of $0.10 per share ("Agent's Warrants") for a period of 24 months from the date of the closing of IPO.

Pardus is a capital pool company ("CPC") within the meaning of the policies of the TSX Venture Exchange (the "Exchange"). Pardus has not commenced operations and has no assets other than cash. The Shares are listed on the Exchange and are currently halted pending the satisfaction of certain customary closing conditions. Pardus expects that the halt will be lifted and that trading will commence on or about July 31, 2023 under the stock symbol PDVN.P.

As a result of the IPO, Pardus now has 4,000,000 Shares issued and outstanding with 200,000 Shares reserved for issuance upon the exercise of the Agent's Warrants.

About Pardus

Pardus is a newly formed CPC created to identify and evaluate potential acquisitions of commercially viable businesses and assets that have the potential to generate profits and add shareholder value. Except as specifically contemplated in the CPC Policy of the Exchange, until the completion of the qualifying transaction, Pardus will not carry on business, other than the identification and evaluation of companies, businesses or assets with a view to completing a proposed qualifying transaction.

For further information, please contact:

Herrick Lau
Director, Chief Executive Officer, Chief Financial Officer and Corporate Secretary
Telephone: (604) 688-9588

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