Rebel Capital Announces Termination of Letter of Intent

VANCOUVER, British Columbia, Feb. 05, 2019 (GLOBE NEWSWIRE) — Rebel Capital Inc. (the “Company”) (TSXV: RBL.P), a capital pool company pursuant to Policy 2.4 of the TSXV Corporate Finance Manual, announces that, further to the Company’s news release dated June 14, 2018, the Company and Spektra Drilling Canada Inc. (“Spektra”) have agreed to terminate the letter of intent between the Company and Spektra dated June 14, 2018 regarding the Company’s previously announced plans to acquire all of the securities of Spektra.

The Company intends to seek other opportunities in respect of a potential qualifying transaction and has made a request to reinstate the Company’s common shares for trading.

This press release is not an offer of securities for sale in the United States. The securities described in this press release have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended) absent registration or an exemption from registration. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction where such offer, solicitation, or sale would be unlawful.

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 release.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release includes the intention of the Company to seek other opportunities in respect of a potential qualifying transaction. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing, the volatility of the Company’s common share price and volume and reliance on key and qualified personnel. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

For further information, please contact:

Mihalis Belantis, CEO
(403) 701-7299
[email protected]