Exelerate Capital Corp. Reports Results of Its Annual General and Special Meeting

VANCOUVER, BC, Jan. 29, 2021 /CNW/ - EXELERATE CAPITAL CORP. (TSXV: XCAP) (the "Company") is pleased to announce that all matters submitted to shareholders for approval as set out in detail in the Company's management information circular ("Circular") dated December 21, 2020 were approved at the annual general and special meeting of the shareholders of the Company held on January 28, 2021 (the "Meeting"). At the Meeting, RSM Canada LLP was re-appointed as the auditor of the Company and the incumbent members of the board of directors, being Mark William Kohler, Barry Cameron Richards, Sheldon Pollack, and Michael Boyd, were elected.

In addition to the above, disinterested shareholders of the Company voted in favour of the following resolutions proposed in the Circular, thereby implementing the certain changes needed to transition to the TSX Venture Exchange's Policy 2.4 – Capital Pool Companies effective as at January 1, 2021 ("Policy 2.4"):

1. ratifying certain amendments to the Company's stock option plan;
2. removing the consequences associated with the Company not completing a Qualifying Transaction within 24 months of its listing date; and
3. authorizing the Company to make certain amendments to the Company's escrow agreement.

Please refer to the Company's news release dated December 21, 2021 and the Circular for further details with respect to the amendments associated with the new Policy 2.4.

About the Company

The Company is a capital pool company pursuant to Policy 2.4. Except as specifically contemplated in such policy, until the completion of its Qualifying Transaction (as defined in Policy 2.4), the Company will not carry on business, other than the identification and evaluation of companies, businesses or assets with a view to completing a proposed Qualifying Transaction. Investors are cautioned that trading in the securities of a capital pool company is considered highly speculative.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. 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.

SOURCE Exelerate Capital Corp.

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