Anchor Announces Filing of Filing Statement

Calgary, Alberta--(Newsfile Corp. - May 1, 2019) - Anchor Capital Corporation (TSXV: ANC.H) ("Anchor" or the "Corporation"), a capital pool company listed on the NEX board (the "NEX") of the TSX Venture Exchange (the "Exchange"), is pleased to announce that it has received conditional approval from the Exchange for its previously announced Qualifying Transaction (as defined under Exchange Policy 2.4) with Spyder Vapes Inc. ("Spyder"), and that it has filed its filing statement (the "Filing Statement") with respect to its proposed Qualifying Transaction with the Exchange and the applicable Canadian securities regulators. A copy of the Filing Statement is available under the Corporation's profile at www.sedar.com.

Completion of the proposed Qualifying Transaction is subject to a number of conditions, including but not limited to, final Exchange acceptance. The Corporation has received conditional acceptance from the Exchange with respect to the proposed Qualifying Transaction. However, final acceptance of the proposed Qualifying Transaction is subject to the Corporation meeting all of the requirements of the Exchange. Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to the proposed Qualifying Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative. Additionally, the Company wishes to clarify that 2432692 Ontario Inc. (the "Finder"), a finder that will receive 300,000 common shares in the capital of Spyder upon closing of the Qualifying Transaction, is non-arm's length to Spyder since the sole shareholder of the Finder is also the holder of more than 10% of Spyder's issued and outstanding common shares. The Company's press release of November 15, 2018 incorrectly referred to the Finder as being arm's length to Spyder.

For additional information about the Qualifying Transaction, please see the Corporation's press releases dated March 21, 2019, February 5, 2019, and November 15, 2018 which are available under the Corporation's profile at www.sedar.com.

Cautionary 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.

This press release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Examples of such statements include statements concerning the completion of the Qualifying Transaction and the timing of such completion. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation cautions the reader that the factors identified above are not intended to represent a complete list of the factors that could affect the Corporation. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

For further information, please contact:

Brandon Kou, Director, Anchor Capital Corporation

Telephone: (562) 335-6517
Email: brandon.kou@gmail.com

Dan Pelchovitz, President and Chief Executive Officer, Spyder Vapes Inc.

Telephone: (905) 265-8273
Email: dan@spydervapes.com

Not for distribution to United States newswire services or for release publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/44481