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Bucephalus Announces Changes to Management and Board of Directors

Toronto, Ontario--(Newsfile Corp. - March 2, 2021) - Bucephalus Capital Corp. (CSE: BCA) ("Bucephalus" or the "Company") today announced the appointment of John A. McMahon to serve as Chairmanand Chief ExecutiveOfficer. The Company has acceptedthe resignation of Mr. Lucas Ewart as CEO and from the board of directors ("Board"). The companyis also pleased to announcethe addition of Tim Diamondto the Board. Mr. Diamond brings over 30 years of entrepreneurial and managerial experience across asset management, real estate, merchant banking, and venture investing including founding, building and successfully exiting several companies. Since 2014, Mr. Diamond has been CEO of Whitehall Apartments Corp. a privateREIT and has served on the boards of numerouspublicly listed investment funds during his career and currently sits on the board of Trichome Financial Corp, a publicly listed finance company. Mr. McMahon has held a number of senior banking roles within the investment industry and is currently Managing Partner of Thought Launch Capital & Advisory. Prior to this role, he served as Vice Chairman and Head of Investment Banking for Mackie Research CapitalCorporation and subsequently, Managing Director of Investment Banking for Industrial Alliance Securities. The management and Board of the Companyare as follows: John McMahon - Chief ExecutiveOfficer, Director Chris Carmichael - Chief Financial Officer Tim Diamond - Director Jason Ewart - DirectorAlec Regis - Director Further, subjectto all regulatory approvals, the Company is pleased to announce it intends to raise up to $1,250,000 through the issuanceof 25,000,000 units (the "Units") at a price of $0.05 in a non-brokered private placement (the "Private Placement"). Each Unit will consist of one common share and one common share purchase warrant. Each common share purchase warrant is exercisable into one additional common share at a price of $0.20 for a period of 36 months from the closing date. A finder's fee may apply to a portion of the proceedsraised under the Private Placement.All securities issued pursuant to the Private Placement will be subject to a four month hold period from the date of issue. Proceeds from the Private Placementwill be used by the Company for working capitaland for othergeneral and administrative costs. The Company has also sold its ownershipin Marathon MortgageCorp. ("MMC") for $670,000. In 2019, the Company adjustedthe fair value of its MMC shares to $Nil. About Bucephalus Capital Corp. Bucephalus Capital (CSE: BCA) is a specialized investment firm providingbridge loans and ancillary servicesto private and public companieswith respect to a varietyof financial transactions including public listings, RTOs (reverse takeovers), re-structuring and M&Atransactions. Additional information about the Company can be found on the Company's websiteat www.bucephaluscapital.ca. For further information, pleasecontact: John McMahon,CEO Email:jmcmahon@bucephaluscapital.ca


Forward-Looking Information

Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking information. The parties undertake no obligation to update forward-looking information except as otherwise may be required by applicable securities law.


Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada 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/75796

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