Mr. Joel Freudman reports

HOLLY STREET ANNOUNCES CESSATION OF PROPOSED QUALIFYING TRANSACTION

Holly Street Capital Ltd. has agreed with Southern Sky Resources Corp. that they will not be proceeding with their proposed qualifying transaction, and that the amalgamation agreement dated Feb. 5, 2021, between Holly and Southern Sky has been terminated effective as of April 15, 2021.

Holly will recommence its search for and evaluation of alternative acquisition opportunities with a view to completing a new qualifying transaction.

About Holly Street Capital Ltd.

Holly is designated as a capital pool company under exchange Policy 2.4. Holly has not commenced commercial operations and has no assets other than cash. Holly's objective is to identify and evaluate businesses or assets with a view to completing a qualifying transaction. Any proposed qualifying transaction must be approved by the exchange and, in the case of a non-arm's-length qualifying transaction, must also receive majority approval of the minority shareholders. Until the completion of a qualifying transaction, Holly will not carry on any business other than the identification and evaluation of businesses or assets with a view to completing a proposed qualifying transaction.

As of Dec. 31, 2020, Holly had $323,457 in cash against only $8,232 of liabilities. As of the date hereof, Holly has 7.51 million common shares issued and outstanding (two million of which are subject to escrow restrictions), and an aggregate of 700,000 common shares are reserved for issuance upon the exercise of outstanding stock options.

Holly is a portfolio company of Resurgent Capital Corp., a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and prepublic microcapitalization Canadian companies.

We seek Safe Harbor.