Alpha Peak Announces Completion of its Previously Announced Distribution of $0.075 per Common Share and Sale of the Shares of Total Wonder Enterprises Limited

Richmond, British Columbia--(Newsfile Corp. - August 1, 2019) - Alpha Peak Leisure Inc. (TSXV: AAP.H) ("Alpha Peak" or the "Company") announces the completion of its previously announced distribution (the "Distribution") of C$0.075 per common share (a "Common Share"). The Distribution was a one-time, cash distribution by way of a return of capital. Concurrently with the completion of the Distribution, the Company has closed its previously announced sale (the "TWEL Sale" and together with the Distribution, the "Transaction") of all of the outstanding shares of its wholly-owned subsidiary, Total Wonder Enterprises Limited, as more particularly described in the Company's management information circulated dated December 21, 2018 (the "Circular").

The Common Shares will commenced trading on an ex-distribution basis (without an attached "due bill" entitlement) effective from the opening of trading on August 1, 2019. The due bill redemption date will be August 2, 2019, being the date when all trades with "due bills" attached have been settled. As of the date hereof, the Company's Common Shares remain suspended from trading on the NEX board of the TSX Venture Exchange.

As a result of the Transaction, the Company has become a "shell" company with no material assets (other than some cash) or liabilities and no active business.

For more information, please contact:

Jin Huang, Corporate Secretary
Telephone: (86) 1376173979
Email: jin.huang@alphapeak.ca

Forward-Looking Information

Except for statements of historical fact contained herein, information in this press release may constitute "forward-looking information" within the meaning of Canadian securities laws. Other than statements of historical fact, all statements that involve various known and unknown risks, uncertainties and other factors are "forward-looking statements", including with respect to the financial condition and status of Alpha Peak after the Transaction. There can be no assurance that such statements will prove accurate.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Alpha Peak in light of management's experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, including, without limitation, the risk factors set out in the Circular, and undue reliance should not be placed on such statements and information. Except as otherwise required by applicable law, Alpha Peak expressly disclaims any intention or obligation to update publicly any forward-looking information, whether as a result of new information, future events or otherwise.

Neither the NEX board, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46704