Mr. Lawrence Hay reports

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

Goat Industries Ltd. has entered into an amending agreement dated Aug. 16, 2023, to amend the secured loan agreement dated May 11, 2023, with Summit Bancorp Inc., as announced on June 8, 2023.

The company received the first draw under the loan agreement in the amount of $75,000, which was evidenced by promissory notes and secured by general security agreement. Under the original terms of the loan agreement, interest was payable at a rate of 50 per cent per annum with the interest on the loan being due in advance at the end of the first month. The repayment term was for a maximum of two years and the company at its option was able to 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 issuance in accordance to the policies of the Canadian Securities Exchange.

Pursuant to the amending agreement, the loan is now repayable in cash on the earlier of five business days from the date on which the company closes a private placement for gross proceeds of at least $250,000 or 90 days from the date of the amending agreement. Interest on the loan has been reduced to 20 per cent per annum, calculated as simple interest accrued monthly in arrears with the interest payable in cash. Upon repayment of the loan, the loan agreement will expire.

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.