Cluny Capital Completes Shares for Debt

Toronto, Ontario, CANADA


TORONTO, July 28, 2020 (GLOBE NEWSWIRE) -- Cluny Capital Corp. (the “Company”) (TSXV:CLN.H), a capital pool company pursuant to Policy 2.4 of the TSX Venture Exchange (the “TSXV”), announces the completion of two shares for debt transactions. Pursuant to the transactions, the Company issued an aggregate of ‎1,058,53‎‎5‎ common shares at a deemed price of $0.06 per share in satisfaction of ‎$63,512.19‎ of indebtedness currently owed to two arm’s length parties pursuant to the previously announced unsecured convertible debentures for an aggregate principal amount of $56,500. The Company determined to satisfy the indebtedness with common shares in order to preserve its cash for use on working capital and the identification and evaluation of a Qualifying Transaction. All shares issued in satisfaction of the indebtedness are subject to a four month hold period from the date of issuance.

Including the issuance of shares detailed in this news release, there are now currently 14,692,235 common shares of the Company issued and outstanding.

Forward-Looking Statements

Certain statements contained in this news release constitute "forward-looking information" as such term is ‎defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", ‎‎"will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate ‎to the Company, are intended to identify forward-looking information. All statements other than statements of ‎historical fact may be forward-looking information. Such statements reflect the Company's current views and ‎intentions with respect to future events, and current information available to the Company, and are subject to ‎certain risks, uncertainties and assumptions. Material factors or assumptions were applied in providing forward-‎looking information. Many factors could cause the actual results, performance or achievements that may be ‎expressed or implied by such forward-looking information to vary from those described herein should one or more ‎of these risks or uncertainties materialize. These factors include, without limitation: changes in law; the ability to ‎implement business strategies and pursue business opportunities; state of the capital markets; the availability of ‎funds and resources to pursue operations; general economic, market and business conditions; and risks related to ‎COVID-19 including ‎‎‎various recommendations, orders and measures of ‎governmental ‎‎authorities ‎to try to limit the ‎‎‎‎pandemic, including travel restrictions, border closures, ‎non-essential business ‎‎closures, ‎quarantines, ‎‎‎self-‎isolations, shelters-in-place and social distancing, ‎disruptions to markets, economic ‎‎activity, ‎‎‎‎financing, supply ‎chains and sales channels, and a ‎deterioration of general economic conditions ‎‎‎‎including ‎a ‎possible national or ‎global recession‎; as well as those risk factors discussed or referred to in disclosure documents filed by the ‎Company with the securities regulatory authorities in certain provinces of Canada and available at ‎www.sedar.com. Should any factor affect the Company in an unexpected manner, or should assumptions ‎underlying the forward-looking information prove incorrect, the actual results or events may differ materially from ‎the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this ‎cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of ‎such forward-looking information. The forward-looking information included in this news release is made as of ‎the date of this news release and the Company undertakes no obligation to publicly update or revise any forward-‎looking information, other than as required by applicable law.‎

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.‎

James Greig
Director
Cluny Capital Corp
‎(778) 788-2745‎
james_greig@hotmail.com