Mr. Lorne Sugarman reports

EVP CAPITAL INC. ANNOUNCES CLOSING OF INITIAL PUBLIC OFFERING

EVP Capital Inc. has successfully completed its initial public offering of 4.6 million common shares of the corporation at a price of 10 cents per common share for gross proceeds of $460,000. After the completion of the offering, the corporation now has 8,545,200 common shares issued and outstanding.

Canaccord Genuity Corp. acted as the agent for the offering, and in connection therewith, the corporation granted the agent an option to purchase 460,000 common shares at a price of 10 cents per common share and which may be exercised until Aug. 4, 2028. In connection with the offering, the agent also received a cash commission equal to 10 per cent of the gross proceeds of the offering, an administrative fee, and was reimbursed for its legal fees and reasonable expenses.

Concurrent with the closing of the offering, the corporation also granted options to acquire an aggregate of 854,520 common shares at an exercise price of 10 cents per common share to the directors and officers of the corporation, which options expire 10 years from the date of grant.

The corporation is a capital pool company and intends to use the net proceeds of the offering to identify and evaluate assets or businesses for acquisition, with a view to completing a qualifying transaction under the policies of the TSX Venture Exchange. On Aug. 2, 2023, the exchange issued a bulletin approving the listing of the common shares as of 5:01 p.m. on Aug. 2, 2023, and immediately halting trading pending the closing of the offering. The common shares will resume trading under the trading symbol EVP.P on Aug. 4, 2023. Investors are cautioned that trading in the securities of a capital pool company should be considered highly speculative.

We seek Safe Harbor.