Newton Energy Corporation Announces Expiration of Letter of Intent for a Proposed Reverse Takeover Transaction

Calgary, Alberta--(Newsfile Corp. - October 23, 2019) - Newton Energy Corporation (TSXV: NTN.H) (the "Company" or "Newton") announces the non-binding letter of intent accepted June 7, 2019 with Franchise Cannabis Corp. has expired by its terms and will not be extended. The Company continues to pursue opportunities for a potential acquisition.

For further information, please contact:
Newton Energy Corporation
Gino DeMichele, President & CEO
1600, 333 - 7^th Avenue S.W.
Calgary, Alberta T2P 2Z1
Phone: 403-680-7898

Neither the NEX Board of the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the NEX Board) accepts responsibility for the adequacy or accuracy of this release.

DISCLAIMER FOR FORWARD-LOOKING INFORMATION

Certain statements in this press release are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements, including: the ability to find a potential acquisition. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe'' or "continue", or the negative thereof or similar variations. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 and forward looking information. The Company assumed no obligation to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/49023