Atlas One Capital Corporation Completes Initial Public Offering; Common Shares Will Commence Trading on the TSX Venture Exchange

Atlas One Capital Corporation (TSXV: ACAP.P) (the "

Corporation

") is pleased to announce that it has successfully completed its initial public offering of 2,660,000 common shares (the "

Common Shares

") at a price of $0.10 per share for gross proceeds of $266,000 (the "

Offering

"). As a result of this issuance, the Corporation has 5,320,000 Common Shares issued and outstanding of which 2,660,000 Common Shares are subject to escrow restrictions as disclosed in the Corporation's final prospectus dated April 5, 2022, a copy of which may be obtained on the Corporation’s System for Electronic Document Analysis and Retrieval ("

SEDAR

") profile at www.sedar.com. M Partners Inc. (the "

Agent

") acted as agent for the Offering. In connection with the Offering, the Agent and other sub-agents received an aggregate cash commission of $26,600, representing 10% of the gross proceeds of the Offering. In addition, the Agent received a corporate finance fee of $20,000, and a non-transferrable warrant entitling the Agent to acquire 266,000 Common Shares at a price per Common Share of $0.10, exercisable until close of business on June 8, 2024.

The Corporation is a capital pool company pursuant to Policy 2.4 (the "CPC Policy") of the TSX Venture Exchange (the "Exchange"). Except as specifically contemplated in the CPC Policy, until the completion of its "Qualifying Transaction" (as defined in the CPC Policy), the Corporation will not carry on business, other than the identification and evaluation of companies, business or assets with a view to completing a proposed Qualifying Transaction.

The net proceeds from the Offering, together with net proceeds raised prior to the Offering, will be used to identify and evaluate assets and businesses with a view to completing a Qualifying Transaction.

The Common Shares were listed on the Exchange on June 8, 2022 at 5:01 p.m. and are expected to commence trading under the symbol "ACAP.P" at the opening this morning.

Investors are cautioned that trading in the securities of a capital pool company is considered highly speculative.

Early Warning Report

In connection with the Offering, David Rosenkrantz, an officer and director of the Corporation, has announced, in accordance with the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues and applicable Canadian securities legislation (collectively, "NI 62-103"), that he and those acting jointly or in concert with him now hold a total of 1,426,000 Common Shares, inclusive of the stock options (the "Options") he has been granted on an as-converted basis, representing 25.8% of the Company’s issued and outstanding Common Shares on a partially diluted basis. Prior to the Offering, Mr. Rosenkrantz beneficially owned 1,000,000 Common Shares, representing approximately 37.6% of the Corporation's issued and outstanding Common Shares. On June 9, 2022, Mr. Rosenkrantz and those acting jointly or in concert with him acquired beneficial ownership of an additional 226,500 Common Shares and 199,500 Options, thereby triggering the requirement to file an early warning report under NI 62-103.

In connection with the Offering, Ilana Prussky, an officer and director of the Corporation, has announced, in accordance with the requirements of NI 62-103, that she now holds 1,199,500 Common Shares, inclusive of the Options she has been granted on an as-converted basis, representing 21.73% of the Company’s issued and outstanding Common Shares on a partially diluted basis. Prior to the Offering, Ms. Prussky beneficially owned 1,000,000 Common Shares, representing approximately 37.6% of the Corporation's issued and outstanding Common Shares. On June 9, 2022, Ms. Prussky acquired beneficial ownership of an additional 199,500 Options, thereby triggering the requirement to file an early warning report under NI 62-103.

While Mr. Rosenkrantz and Ms. Prussky currently have no plans or intentions with respect to their Common Shares, depending on market conditions, general economic and industry conditions, trading prices of the Common Shares, the Company's business, financial condition and prospects and/or other relevant factors they may develop such plans or intentions in the future and, at such time, subject to any applicable escrow arrangements or other restrictions under the policies of the Exchange, may from time to time acquire additional Common Shares, dispose of some or all of the existing or additional Common Shares or may continue to hold the Common Shares of the Company.

Copies of the early warning reports filed by Mr. Rosenkrantz and Ms. Prussky will be available on the Company's SEDAR profile at www.sedar.com or may be obtained by contacting David Rosenkrantz at [phone]. The Company's head office is located 20 Holly Street, Suite 300, Toronto, Ontario, M4S 3B1.

For further information, please contact:

David Rosenkrantz, President, Chief Executive Officer, Chief Financial Officer, and Director at [phone].

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