Mr. Giles Baynham reports

DUSOLO CLOSES FIRST TRANCHE OF FINANCING

DuSolo Fertilizers Inc. has closed the first tranche of its non-brokered private placement previously announced on April 19, 2016.

"We are very encouraged by the strong support we are recieving from shareholders for this financing," said Giles Baynham, chief executive officer. "DuSolo will now be in a financial position where it can move forward with its plans to improve operations, develop new products, conduct exploration and complete a preliminary economic assessment."

The first tranche closing consists of a total of $172,200 raised through the issuance of 4,305,000 common shares of the company at a price of four cents per common share. All common shares issued in connection with the private placement will be subject to a four-month hold period expiring on Aug. 30, 2016. The company will pay a finder's fee equivalent to 7 per cent cash and 7 per cent broker warrants, valid for 18 months to purchase a common share at four cents, on certain amounts of the private placement, and has applied for the relevant TSX Venture Exchange approvals as outlined in the news release of April 19, 2016.

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