Mr. Lawrence Hay reports

GOAT INDUSTRIES ANNOUNCES A SECURED LOAN OF UP TO CDN$500,000

Goat Industries Ltd. has entered into a secured loan agreement dated May 8, 2023, with Summit Bancorp Inc., whereby it will receive an amount of up to $500,000 on a credit facility basis.

The loan will be financed in draws, with each draw being a maximum of $50,000 unless the parties agree to a larger amount, and the first draw has been made by the company for an aggregate amount of $75,000. The loan and draws are secured and evidenced by promissory notes. Interest on the loan is payable at a rate of 50 per cent per annum with the interest on the entire draw being due in advance at the end of the first month. Both the company and the lender agree that the repayment term on each tranche of the loan shall be a maximum of two years. The company at its option may pay off the loan and any outstanding interest by issuing common shares at the time of repayment based on a 20-day volume-weighted average, with such shares being issued using the maximum allowable discount to the market price at the time of issuance in accordance with the policies of the Canadian Securities Exchange.

As security for the payment of the company's obligations and fulfilment and satisfaction of all covenants and agreements made under the loan agreement, and any promissory notes thereunder, the company has entered into general security agreements (GSAs) with parties who financed the first draw, pursuant to which the company has granted a security interest in all personal property of the company.

The proceeds of the loan will be used by the company for working capital and general corporate purposes.

No finders' fees were issued in connection with the loan.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 (Prospectus and Registration Exemptions), the promissory notes were issued pursuant to Section 2.37 of NI 45-106.

About Goat Industries Ltd.

Goat Industries is an investment issuer focused on investing in high-potential companies and assets operating across a variety of sectors. The paramount goal of the company will be to generate maximum returns from its investments.

We seek Safe Harbor.