Magnolia Colombia Announces Termination of Letter of Intent With Lendified

Magnolia Colombia Limited (“Magnolia” or the “Company”) (TSXV: MCO) announces that its letter of intent with Lendified Holdings Inc. (“

Lendified

”) entered into on November 7, 2019 (the “

LOI

”), has been terminated pursuant to its terms effective immediately.  Pursuant to the LOI, Magnolia and Lendified were to complete a business combination that would result in a reverse take-over of Magnolia.

Magnolia continues to pursue other business opportunities. 

About Magnolia Colombia Limited:

Magnolia Colombia Limited is a Canadian independent oil exploration company.

For further information, please contact: James Lanthier, President & CEO of the Company.

Email: [e-mail]

Phone: [phone]

NEITHER THE 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.