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Hill Street Beverage Company Inc. - Termination of Proposed Transaction with OneLeaf

Toronto, Ontario--(Newsfile Corp. - October 1, 2019) - Hill Street Beverage Company Inc. (TSXV: BEER) ("Hill Street" or the "Company"), today announces that further to its press release dated May 28, 2019, the due diligence period for its proposed acquisition of OneLeaf Cannabis Corp. ("OneLeaf") has expired, and the parties have determined not to proceed with the proposed transaction. The Company also announces that, further to its press release of July 24, 2019, the Company's proposed licencing partnership with Lexaria Bioscience Corp. will not be impacted by termination of the letter of intent with OneLeaf.

For further information:

Press only:
Terry Donnelly, Chairman and CEO, Hill Street Beverage Company Inc.,
terry@hillstreetbevco.com, (416) 543-4904;

For investors:
Investors: Sean Peasgood, Investor Relations,
sean@sophiccapital.com, (647) 797-0219

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FORWARD-LOOKING STATEMENTS

Statements in this press release may contain forward-looking information. Any statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expects", and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances, such as future availability of capital on favourable terms, may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release. The Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/48371