J4 Ventures Announces Closing of Initial Public Offering

Vancouver, British Columbia--(Newsfile Corp. - August 23, 2021) - J4 Ventures Inc. (TSXV: JJJJ.P) (the "Company"), a capital pool company formed pursuant to Policy 2.4 of the Corporate Finance Manual of the TSX Venture Exchange (the "TSXV"), is pleased to announce that it has completed its initial public offering (the "Offering") pursuant to which it has issued 2,000,000 common shares in the authorized share structure of the Company (each, a "Share") at a price of $0.10 per Share pursuant to a final prospectus dated July 27, 2021 (the "Prospectus").

In connection with the Offering, the Company paid a cash commission of $20,000, representing 10% of the gross proceeds of the Offering, and a corporate finance fee of $10,000 plus applicable taxes to the Company's agent, Leede Jones Gable Inc. ("Leede"). In addition, in connection with the Offering, Leede was issued an aggregate of 200,000 non-transferable compensation options, each of which is exercisable into one Share at a price of $0.10 per Share until August 24, 2023.

The Company intends to use the net proceeds from the Offering for examination and possible participation in, or acquisition of, assets or businesses with a view to completing a "Qualifying Transaction", as defined in Policy 2.4.

Following the closing of the Offering, the Company has 8,550,000 Shares issued and outstanding, of which 2,000,000 Shares have been placed in escrow pursuant to an escrow agreement among the Company, Odyssey Trust Company, as escrow agent, and certain shareholders of the Company. The Shares were listed for trading on the TSXV effective as of market open on Friday August 20, 2021 and trading in the Shares on the TSXV is expected to commence effective as of market open tomorrow.

The Company has also granted an aggregate of 727,500 incentive stock options to certain directors and officers, as outlined in the Prospectus, each of which is exercisable into one Share at a price of $0.10 per Share until July 29, 2031.

On behalf of the board of directors of the Company:

Jeremy Poirier
Chief Executive Officer
Telephone: 604-722-9842

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.

Disclaimer for Forward-Looking Statements

Certain statements in this news release constitute "forward-looking information" or "forward-looking statements" under applicable securities laws. Forward-looking statements reflect management's current view of future events, expectations, plans and prospects with respect to the Company and include statements regarding the expected timing of commencement of trading on the TSXV and the Company's expected use of proceeds of the Offering. These statements are based upon assumptions that are subject to significant risks and uncertainties, including that the Company may be unable to identify a Qualifying Transaction or that matters may arise that delay the timing of commencement of trading. Because of these risks and uncertainties, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurances that any will prove to be correct. The forward-looking statements in this release are made as of the date of this release. Except as required by applicable laws, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/93904

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