1169077 B.C. Ltd. Announces Non-Brokered Private Placement

Vancouver, British Columbia--(Newsfile Corp. - January 27, 2021) - 1169077 B.C. Ltd. ("077BC" or the "Company") is pleased to announce that it has completed, effective as of today, its previously announced non-brokered private placement of the common shares of the Company at a subscription price of $0.02 CAD and $0.0155 USD per share. The Company has raised a total of approximately CAD $325,391.90, subject to exchange rate fluctuations, through the issuance of 16,269,595 common shares of the Company under the private placement.

The private placement is being conducted on an exempt basis exempt from any prospectus or similar requirements, and was open to accredited investors only and is subject to compliance with applicable laws. All shares issued in connection with the private placement are subject to a four month and a day hold and also escrow period as set out in the subscription agreement for the private placement. Share issued to any accredited US investors are also restricted securities.

The common shares issued herein are subject to and held in escrow by the Company and/or its transfer agent pursuant to which the securities are restricted from being transferred (whether by sale, gifting, or otherwise), and shall only be released from such escrow in accordance with the following schedule unless agreed to by the Company in writing in its sole discretion: 10% released on January 26, 2021 ("closing date"); 15% released after 6 months from the closing date; 15% released after 12 months from the closing date; 15% released after 18 months from the closing date; 15% released after 24 months from the closing date; 15% released after 30 months from the closing date; and 15% released after 36 months from the closing date.

Proceeds from the private placement will be used to allow the Company to explore potential business opportunities for possible partnership, joint venture, merger, or acquisition, conducting due diligence for the same, for internal development of its business, and for general working capital purposes. The Company currently has no active project.

For further information please contact:

Mike Dai
CEO & Director
E-mail: mdai@aloefinance.com

Cautionary Statements

This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation regarding the Company and statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. In particular, this press release contains such forward-looking information regarding the Company's intended plans with the funds raised from the private placement, and each of the foregoing's possible effects on the business and operations of the Company. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risk that: the Company may not raise sufficient funds under the private placement to successfully develop its business or carry out any activity for which the funds are being raised for; the private placement might not close or close on the terms currently contemplated; there might not be any suitable potential business or joint venture partner, or acquisition or merger partner for the Company; and even if the private placement fully completes as planned the proposed activities for which they are intended for and any other activity of the Company might not be completed as currently planned due to economic, business and other factors, some of which are beyond the control of the Company, including but not limited to the impact the Covid-19 pandemic may have on the Company, the financial markets, and the economy at large. Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control such as the future state of the economy. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/72985