TORONTO, Oct. 15, 2021 (GLOBE NEWSWIRE) -- Fountain Asset Corp. (TSXV:FA) (“Fountain” or the “Company”) announced today its intention to effect a normal course issuer bid through the facilities of the TSX Venture Exchange.

Fountain may, during the 12 month period commencing October 20, 2021 and ending October 19, 2022, purchase on the TSX Venture Exchange for cancellation up to 3,088,835 subordinate voting shares in total, representing approximately 5% of the subordinate voting shares currently issued and outstanding. The price which Fountain will pay for any such shares will be the market price at the time of acquisition. The actual number of subordinate voting shares which may be purchased and the timing of any such purchases will be determined by Fountain. Fountain has retained Canaccord Genuity Corp. to effect purchases on its behalf pursuant to the bid. Fountain is effecting the bid at this time as it believes that its subordinate voting shares are undervalued at their current market prices and that the purchase of subordinate voting shares would be a prudent use of funds.

About Fountain Asset Corp.

Fountain Asset Corp. is a merchant bank which provides equity financing, bridge loan services (asset back/collateralized financing) and strategic financial consulting services to companies across many industries such as marijuana, oil & gas, mining, real estate, manufacturing, retail, financial services, and biotechnology.

For further information: please contact Andrew Parks at (647) 344-4429 or visit Fountain Asset Corp.'s website at www.fountainassetcorp.com.

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.