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Early Warning Report Issued Pursuant to National Instrument 62103 Acquisition of Shares of Must Capital Inc.

newsfilecorp

Toronto, Ontario–(Newsfile Corp. – May 7, 2019) – This press release is being disseminated as required by National Instrument 62‐103 The Early Warning System and Related Take Over Bids and Insider Reporting Issues in connection with the filing of an early warning report (the “Early Warning Report“) regarding the acquisition of securities of Must Capital Inc. (TSXV: MUST.H) (the “Company“) by Scharfe Holdings Inc. (“Scharfe“) of 488-1090 West Georgia Street, Vancouver BC V6E 3V7. The address of the Company’s registered office is 121 King Street West, Suite 2150, Toronto, Ontario, M5H 3T9.

Scharfe entered into a debt conversion agreement with the Company under which Scharfe agreed to settle $87,500.00 of indebtedness in exchange for 1,296,296 common shares in the capital of the Company. Following the transaction, Scharfe and its affiliates beneficially own 1,432,735 common shares in the capital of the Company, representing approximately 10.77% of the issued and outstanding voting securities of the Company on an undiluted basis.

The securities were acquired for investment purposes and Scharfe may increase or decrease their beneficial ownership or control depending on market or other conditions.

This transaction is exempt from the formal take-over provisions of the Securities Act (Ontario) pursuant to section 4.2 of National Instrument 62-104.

A copy of the Early Warning Report can be found on www.SEDAR.com.

NOT FOR DISTRIBUTION TO UNITED STATES OF AMERICA WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/44616