Prime City One Capital Corp. Announces Termination of Reverse-Takeover Transaction

Toronto, Ontario--(Newsfile Corp. - June 14, 2017) - Prime City One Capital Corp. (TSXV: PMO.H) (the "Corporation" or "Prime City") - Further to its press release dated November 15, 2016, the Corporation has terminated its discussions with New India Investment Corporation ("New India") to acquire all of the issued and outstanding shares in the capital of New India pursuant to proposed a reverse-takeover transaction (the "RTO").

Prime City will continue to explore other strategic opportunities with various third parties. It is anticipated that the common shares (the "Shares") of the Corporation will continue to be halted subject to the TSX Venture Exchange completing a continued listing review of the Corporation, at which time the Shares of the Corporation will be reinstated for trading.

Reader Advisory

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.

Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions; unanticipated operating events; competition for and/or inability to retain services and inputs; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; changes in tax laws and incentive programs; and the other factors described in our public filings available at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Neither the TSX Venture Exchange (nor the NEX) nor their 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.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Ying Chen, CFO
ychen@hyfinancial.ca