Pine Trail Capital Trust Completes Intial Public Offering

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CALGARY, April 20, 2018 /CNW/ - PINE TRAIL CAPITAL ("Pine Trail" or the "Trust") (TSXV: PINE.P), a capital pool company, is pleased to announced that it has completed its initial public offering of 4,000,000 units of the Trust at a price of $0.10 per unit for gross proceeds of $400,000 and has filed for listing as a Capital Pool Company on the TSX Venture Exchange. Haywood Securities Inc. (the "Agent") acted as agent on the offering. The units of Pine Trail are trading on the TSX Venture Exchange under the trading symbol "PINE.P". After completion of the offering, the Trust has 14,000,000 units issued and outstanding.

The Agent received a cash commission equal to 10% of the total gross proceeds of the offering, a corporate finance fee and warrants (the "Agent's Warrants") which entitle the Agent to purchase 400,000 units at an exercise price of $0.10 per Unit. The Agent's Warrants will expire on April 20, 2020.

The net proceeds of the offering will be used by the Trust to identify and evaluate assets or businesses for acquisition with a view to completing a "Qualifying Transaction" under the capital pool company program of the TSX Venture Exchange as disclosed in the prospectus of the Trust dated March 29, 2018.

Pine Trail's board of trustees and management team is comprised of the following individuals: Sean Nakamoto (CEO and a Trustee), David Luu (CFO and Corporate Secretary), Andrew Shapack (Trustee), Mohammed Atiq Nakrawala (Trustee) and Jonathan Wolch (Trustee).

Investors are cautioned that trading in the securities of a capital pool company should be considered highly speculative.

The forward-looking statements contained in this press release are made as of the date of this press release, and Pine Trail 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 expressly required by securities law.

Neither the 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.

SOURCE Pine Trail Capital Trust