10557510 Canada Corp. Completes Unit Offering

Toronto, Ontario--(Newsfile Corp. - December 15, 2020) - 10557510 Canada Corp. ("Canada510" or the "Company") is pleased to announce that it has completed a non-brokered private placement of 6,833,333 units ("Unit") of the Company at a price of $0.15 per Unit for aggregate gross proceeds of CAD $1,025,000 (the "Offering") which was closed in two tranches.

Each Unit consists of one common share ("Common Share") in the capital of the Company and one half (1/2) of one Common Share purchase warrant (each whole warrant a "Warrant"). Each Warrant is exercisable to acquire one additional Common Share at an exercise price of $0.20 for a period of twelve (12) months following the closing date of the Offering.

Canada510 will use the proceeds of this offering for corporate G&A and to finalize a potential acquisition in the online gaming and eSports market.

The Company has called a meeting of Sharesholders for January 12, 2021 and will be filing the necessary documentation on SEDAR on December 22, 2020. Shareholders who wish to receive news and investor updates on the Company are encouraged to request such by email to investors@grovecorp.ca.

For more information please contact:

10557510 Canada Corp.:

Nicholas Konkin
Communications Director
Phone: 1 416 642 1807, ext 312
E-mail: investors@grovecorp.ca

Forward-Looking Statements

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in the Company's filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.

Forward-looking statements may include, without limitation, statements regarding the Company's unaudited financial results and projected growth.

Although the Company has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are subject to inconsistent legislation and regulation; change in laws; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and recreational-use marijuana industry and; regulatory or political change.

There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. 1055710 Canada Corp. disclaims any intention or obligation to update or revise such information, except as required by applicable law, and the Company does not assume any liability for disclosure relating to any other company mentioned herein.

No securities regulator or exchange has reviewed, approved, disapproved, or accepts responsibility for the content of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/70320