Jo-Jo Capital Canada Ltd. Announces Appointment of Chief Financial Officer and Provides Update on Qualifying Transaction

TORONTO, March 04, 2024 (GLOBE NEWSWIRE) -- Jo-Jo Capital Canada Ltd. (the "Company") (TSXV: JOJO.P) announces that James Fairbairn, the Chief Financial Officer of the Company, has resigned from his role to pursue other interests. Effective immediately, Peter Schloo, the Company's Chief Executive Officer, has been appointed as Chief Financial Officer of the Company.

The Company also announces it has amended its letter of intent (the "LOI") with 9302204 Canada Inc. (o/a Cheelcare) for the Company's proposed "Qualifying Transaction" (as such term is defined in the policies of the TSX Venture Exchange) as announced on January 24, 2024. The Company and Cheelcare have agreed to extend the deadline in the LOI to enter into a definitive agreement to March 27, 2024. The parties continue to work diligently towards the execution of the definitive agreement.

ABOUT THE COMPANY

The Company is a capital pool company (a "CPC") that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the TSX Venture Exchange Inc.'s CPC policy, until the completion of its Qualifying Transaction, the Company will not carry on business, other than the identification and evaluation of businesses or assets with a view to completing a proposed qualifying transaction.

For further information, please contact:

Peter Schloo
Chief Executive Officer

JO-JO CAPITAL CANADA LTD.

Telephone: 905 505 0918
Email: [email protected]

Forward-Looking Information Cautionary Statement

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or the Company's future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, the Company's stated intention to enter into a definitive agreement for its Qualifying Transaction constitutes forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statement made in this press release are made as of the date hereof. The Company disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

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 news release.