Exelerate Capital Corp. (formerly Exelerate Health Inc.) Closes Additional Private Placement Equity Financing

TSX-V: XCAP

VANCOUVER, Oct. 9, 2019 /CNW/ - EXELERATE CAPITAL CORP. (TSX-V: XCAP) (the "Company"), is pleased to announce that it has closed another non-brokered private placement, pursuant to which the Company raised gross proceeds of $499,905 through the issuance of 3,703,000 common shares (the "Shares") at a price of $0.135 per Share.

In connection with the private placement, the Company agreed to pay finders' fees totalling $5,000 in cash, to an unrelated agent, in lieu of expenses.

The net proceeds from the private placement will be used for due diligence and acquisition activities, and for general working capital. All issued Shares are subject to a statutory hold period under Canadian securities legislation expiring on February 10, 2020.

"I continue to be very pleased with the meaningful support we have received to date, from key strategic family offices and technology investors, as we continue to search for our Qualifying Transaction," said Mark W. Kohler, CEO of the Company. "We're seeing significant potential value in focusing on acquiring healthcare technology businesses that support the building of a secure 'Information Supply Chain™' in the vast market called digital health; and the associated technologies that enable impactful and effective transitions of patients and data in that critical space from a hospital back to the home."

About the Company

The Company is a capital pool company pursuant to Policy 2.4 of the TSX Venture Exchange (the "CPC Policy"). Except as specifically contemplated in the CPC Policy, until the completion of its "Qualifying Transaction" (as defined in the CPC Policy), the Company will not carry on business, other than the identification and evaluation of companies, business or assets with a view to completing a proposed Qualifying Transaction.

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Not for distribution to United States newswire services or for dissemination in the United States. These securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state, and may not be offered or sold in the United States unless an exemption from registration is available. This press release does not constitute an offer to sell or the solicitation of any offer to buy these securities in the United States.

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

Notice on Forward Looking Information

Information set forth in this press release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: the Company's ability to identify, evaluate and complete a Qualifying Transaction and other risks and uncertainties, including those described in the Company's final prospectus dated April 12, 2019 filed with the Canadian Securities Administrators and available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Exelerate undertakes no obligation to publicly update or revise forward-looking information.

SOURCE Exelerate Capital Corp.

Mark Kohler, CEO and Chairman, E: [email protected]