Capricorn Business Acquisitions Inc. Provides Update to Private Placement

TORONTO, ONTARIO--(Marketwired - Feb. 1, 2017) - Capricorn Business Acquisitions Inc. (the "Company") (NEX:CAK.H) announces that it has determined to re-price its previously announced private placement at $0.07 per post-Consolidation common share (as defined below).

On January 25, 2017, the Company announced its intention to proceed with a non-brokered private placement offering of up to 3,750,000 post-Consolidation common shares at a subscription price of C$0.08 per post-Consolidation common share, or such lesser price as may be permitted by the TSX Venture Exchange (the "Exchange"), for gross proceeds of up to C$300,000 (the "Private Placement"). The Company has determined to re-price the common shares being offered under the Private Placement at $0.07 per post-Consolidation common share. All other terms of the Private Placement remain the same as previously announced.

Closing of the Private Placement is contingent on receipt of shareholder approval of a 1-for-3 consolidation (the "Consolidation") at its Annual and Special Meeting of Shareholders to be held on February 14, 2017, or any adjournment thereof (the "Meeting"). If the Consolidation is approved, the Consolidation and the Private Placement are expected to be completed after completion of the Meeting on February 14, 2017 (or any adjournment thereof).

The Consolidation and Private Placement are subject to, among other things, all applicable regulatory and shareholder approvals, including the acceptance of the Exchange or the NEX board of the Exchange, as applicable.

About Capricorn

The Company is a NEX listed company and classified as a Capital Pool Corporation as defined in Exchange Policy 2.4. The Company's principal business is the identification and evaluation of assets or businesses with a view to completing a Qualifying Transaction within the meaning of Exchange policies.

Caution Regarding Forward-Looking Statements

Certain statements in this press release may constitute "forward looking statements" which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. When used in this press release, such statements may use such words as "may'', "will'', "expect'', "believe'', "plan'' and other similar terminology. These statements include, but are not limited to, expectations regarding the proposed Consolidation, the Private Placement (including pricing, use of proceeds, closing date and insider participation), and the Meeting. These statements reflect management's current expectations regarding future events and speak only as of the date of this press release. The forward looking statements involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, the Company's stage of development, capital requirements and future ability to fund operations, regulatory requirements, general economic, market or business conditions. The foregoing list of factors is not exhaustive. The Company undertakes no obligation to update publicly or revise any forward looking statements, whether a result of new information, future results or otherwise, except as required by 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.