Deal Pro Capital Completes Initial Public Offering

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TORONTO, Oct. 27, 2021 /CNW/ - Deal Pro Capital Corporation (the "Company") (TSXV: DPCC.P) is pleased to announce that on October 22, 2021 it completed an initial public offering (the "Offering") in Ontario, British Columbia and Alberta of 2,507,000 common shares ("Common Shares") in the capital of the Company at a price of $0.10 per Common Share for gross proceeds of $250,700 pursuant to a final prospectus dated August 27, 2021 (the "Prospectus").

Hampton Securities Limited (the "Agent") acted as agent in the Offering, in connection with which it received a cash commission equal to 10% of the gross proceeds of the Offering and an administrative fee. In addition, an aggregate of 250,700 agent's warrants were issued to the Agent and its selling group, each such agent's warrant entitling the holder to acquire one Common Share at an exercise price of $0.10 expiring 24 months from the date that the Common Shares are listed on the TSX Venture Exchange (the "TSXV").

At the closing of the Offering, the Company also granted stock options (the "Options") to directors of the Company to acquire up to an aggregate of 250,700 Common Shares. Each Option is exercisable to acquire one Common Share at a price of $0.10 any time prior to October 22, 2031.

Following completion of the Offering, the Company has 8,207,001 Common Shares issued and outstanding, 5,700,001 of which are subject to escrow restrictions as disclosed in the Prospectus. The TSXV has conditionally accepted the Company's listing application. The Company anticipates that the Common Shares will be listed on the TSXV at the close of business on Wednesday, October 27, 2021 and that the Common Shares will commence trading on the TSXV at the opening of business on Thursday, October 28, 2021, under the symbol "DPCC.P".

For further information please see the Prospectus, available under the Company's profile on SEDAR at www.sedar.com.

About the Company

The Company is a capital pool company ("CPC") within the meaning of the policies of the TSXV that has not commenced commercial operations and has no assets other than cash. The current directors and officers of the Company are: Harold Wolkin (CEO, CFO and Director), Vassilios Mitoulas (Vice-President and Director), Ralph Garcea (Vice-President), Lorne Gertner (Vice-President) and Norman Levine (Director). Except as specifically contemplated in the CPC policies of the TSXV, until the completion of its "Qualifying Transaction" (as defined therein), 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".

On Behalf of the Board of Directors of Deal Pro Capital Corporation

Harold Wolkin
CEO, CFO and Director

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.

This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.

SOURCE Deal Pro Capital Corporation

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