BuzBuz Capital and Inolife Enter into Business Combination Agreement

Toronto, Ontario--(Newsfile Corp. - October 2, 2020) - BuzBuz Capital Corp. (TSXV: BZBZ.P) ("BUZ" or the "Company"), a Capital Pool Company, and Inolife R&D Inc. ("Inolife") are pleased to announce that the Company and Inolife have entered into a definitive business combination agreement dated October 1, 2020 (the "Agreement") whereby BUZ will acquire all of the securities of Inolife by way of a three-cornered amalgamation, subject to the terms and conditions of the Agreement (the "Transaction"). For further details on terms of the Transaction, please see the Company's press release dated August 7, 2020. The Agreement will be filed under BUZ's profile on SEDAR at www.sedar.com.

Filing Statement and Caution

Further details about the Transaction and the resulting issuer will be provided in the filing statement of BUZ to be prepared and filed in respect of the Transaction. Investors are cautioned that, except as disclosed in the filing statement, any information released or received with respect to the 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.

Trading in the BUZ Shares

Trading in the common shares in the capital of BUZ (the "BUZ Shares") will remain halted pending the review of the proposed Transaction by the TSX Venture Exchange. There can be no assurance that trading in the BUZ Shares will resume prior to the completion of the Transaction.

Forward-Looking Information

This press release contains forward-looking information based on current expectations. Statements about the closing of the Transaction, expected terms of the Transaction, the number of securities of the Company that may be issued in connection with the Transaction, the ownership ratio of the Company's shareholders post-closing, and the parties' ability to satisfy closing conditions and receive necessary approvals are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the Transaction will occur or that, if the Transaction does occur, it will be completed on the terms described above. The Company and Inolife assume no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

Cautionary Statements

Completion of the transaction is subject to a number of conditions, including but not limited to, TSX Venture Exchange acceptance and if applicable pursuant to TSX Venture Exchange requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the 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.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Neither 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.

For further information, please contact:

Richard Buzbuzian
President and CEO
BuzBuz Capital Corp.
(647) 501-3290

Michael Wright
President and CEO

Chris Brown
Global Capital Markets

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/65101