Brachium Capital Corp. Announces Closing of Initial Public Offering

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Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - December 3, 2019) - Brachium Capital Corp. (TSXV: BRAC.P) (the "Corporation" or "Brachium"), is pleased to announce that it has completed its initial public offering (the "Offering") of 4,000,000 common shares in the capital of the Corporation (the "Common Shares") at a purchase price of $0.10 per Common Share for gross proceeds of $400,000.

Together with the cash proceeds raised from prior offerings ($252,350 in seed financing as more fully described in the Corporation's prospectus dated September 25, 2019), the Corporation has raised total gross proceeds of $652,350 and has a total of 7,923,500 Common Shares issued and outstanding, of which 2,800,000 are being held in escrow. The net proceeds raised will be used to identify suitable targets with a view to completing a "Qualifying Transaction" under the Capital Pool Company program of the TSX Venture Exchange (the "Exchange").

The Corporation is a Capital Pool Company (as defined in the policies of the Exchange). To date, the Corporation has not conducted operations of any kind and has not entered into an "Agreement in Principle", as such term is defined in Exchange Policy 2.4 - Capital Pool Companies.

Brachium is headed by a team consisting of Bryant Pike as its Chief Executive Officer and director as well as Kris Miks, Larry Nevsky and Craig Graham as corporate directors, Greg Louis as its Chief Financial Officer and Benjamin Iscoe as its Corporate Secretary. The team will work with high quality targets seeking access to the public capital markets.

PI Financial Corp. (the "Agent") acted as agent in connection with the Offering. For its services, the Agent received an administrative fee of $10,000, a cash commission equal to 10% of the gross proceeds of the Offering as well as options to purchase up to 400,000 Common Shares at an exercise price of $0.10 per Common Share, exercisable within twenty-four months from the listing of the Common Shares on the Exchange.

In addition, the Corporation granted an aggregate of 792,350 stock options to its directors and officers with each stock option entitling the holder thereof to acquire one Common Share at an exercise price of $0.10 for a period of five years from the date of grant.

Dentons Canada LLP acted as legal counsel to the Corporation and MLT Aikins LLP acted as counsel to the Agent.

The Common Shares were admitted for trading on the Exchange and will be trading under the symbol "BRAC.P". The Common Shares will resume trading at the start of markets on December 5, 2019.

For more information, please contact Bryant Pike, the Chief Executive Officer of the Corporation.

Bryant Pike, CEO
bpike@westemedia.com

604-838-0110

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.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the satisfaction of conditions and the resumption of trading of Brachium's Common Shares and the identification of high quality targets. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive shareholder or regulatory approvals; and the results of continued development, marketing and sales. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/50315

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