HOIST CAPITAL CORP. SHAREHOLDERS APPROVE SHARE CONSOLIDATION IN CONNECTION WITH QUALIFYING TRANSACTION WITH THE HEMPSHIRE GROUP, INC.

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CALGARY, AB, June 16, 2022 /CNW/ - Hoist Capital Corp. (TSXV: HTE.P) ("Hoist") is pleased to announce that at a special shareholders meeting held earlier today, shareholders approved the consolidation of the common shares on a 4:1 basis and a name change in connection with the previously announced Qualifying Transaction with The Hempshire Group, Inc. In addition, shareholders also approved the election of the nominee directors, the adoption of a stock option plan and the appointment of auditors.

Additional information in connection with the Qualifying Transaction in the form of a Filing Statement prescribed by the TSX Venture Exchange (the "Exchange") will be filed in due course on SEDAR under Hoist's profile. Once all customary commercial closing conditions for the Qualifying Transaction have been satisfied and final approvals of the Exchange have been obtained, the common shares will start trading on a post consolidation basis under the new stock symbol "HMPG".

Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, final approval of the TSX Venture Exchange and approval of the shareholders of Hoist and Hempshire. There can be no assurance that the Qualifying Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Qualifying Transaction, any information released or received with respect to the Qualifying Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

This press release is not an offer of the securities for sale in the United States. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

The TSX Venture Exchange has in no way passed upon the merits of the proposed Qualifying Transaction and has neither approved nor disapproved the contents of this news release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

SOURCE Hoist Capital Corp.

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