REX Opportunity Corp. Announces Closing of First Tranche of Milestone Private Placement Financing

Toronto, Ontario--(Newsfile Corp. - December 16, 2020) -  REX Opportunity Corp. ("REX" or the "Corporation") is pleased to announce that it has closed the first tranche of a non-brokered private placement ("Offering") of 557,715 Units at a price of $0.35 per Unit for aggregate gross proceeds of $195,200 including settlement of $15,000 of debt with arms' length creative service providers. Each Unit consists of one (1) common share of REX and one-half of one (1) common share purchase warrant with each whole warrant exercisable to purchase one common share of REX at an exercise price of $0.50 for a period of two years from the date of issuance. All securities issued in connection with the Offering are subject to a hold period of four months and one day. No fees or commissions were paid in connection with the Offering.

REX intends to use the proceeds of the Offering to continue developing and implementing its business strategy of investing in content creators and influencers by acquiring interests in their content and channels.

An insider of REX has participated in the Offering by subscribing for 300,000 Units. The participation by the insider in the Offering is considered to be a "related party transaction" as defined for the purposes of Multinational Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The related party transaction is exempt from the formal valuation and minority approved requirements pursuant to sections 5.5 (a) (b) and (c) and 5.7(1) (a) and (b) of MI 61-101 as the Corporation is not listed on a specified market, the transaction was a distribution of securities for cash and neither the fair market value of the Units distributed to nor the consideration received from the related party exceeded 25% of the issuer's market capitalization or $2,500,000. The Corporation did not file a material change report at least 21 days prior to completion of the Offering as the details of the participation by the related party had not been determined at that time.

About REX
REX is developing and implementing a strategy of acquiring interests in creators' content and channels, rolling them into a public company to offer the opportunity to invest directly in creators. With REX, creators and investors will have the opportunity to share in the growth of the content industry.

For further information contact:

REX Opportunity Corp.
Jim Boyle, CEO
jim@rexopportunity.com
www.rexopportunity.com

No securities regulatory authority, stock exchange or regulatory services provider has reviewed or accepts responsibility for the content of this release.

Forward-looking Statements
This press release contains "forward-looking statements". Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding use of proceeds and new business strategies.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important risk factors that could affect forward-looking statements include, among others, the following: REX is a long time inactive issuer with limited resources attempting to pivot to an internally generating business strategy, the adequacy of proceeds of any financing, the ability of the Corporation to obtain financing, the regulatory environment, the economy and capital markets generally and in particular, present and future business strategies, the ability of management to develop and implement a business strategy, the importance of key directors, employees, advisors and consultants, and potential for competition.

Any forward-looking statement made by REX in this press release is based only on information currently available to the Corporation and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

This news 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 of the Corporation will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act, and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/70364