Mr. Lance Tracey reports

LANEBURY ANNOUNCES LOAN AND INVESTMENT IN RECITAL

Lanebury Growth Capital Ltd. has borrowed $250,000 (U.S.) from Code Consulting Ltd. and issued a promissory note to Code. The loan bears interest at an annual rate of 12 per cent and is repayable on Sept. 30, 2023.

The company further announces a $250,000 (U.S.) investment in Recital Software Corp. by way of purchasing an unsecured convertible note. The note bears interest at an annual rate of 10 per cent and is maturing on July 14, 2025. Recital provides software as a service for in-house legal council that organizes and accelerates contract negotiations through the use of its contract life cycle management solution.

The note provides that the investment will be converted into seed preferred shares of Recital upon qualified financing or upon maturity; the note further provides an optional conversion of seed preferred shares into common shares of Recital or other types of equity at the option of the lender at the occurrence of one of the following events: the closing of an underwritten public offering of common shares of Recital, or (ii) upon the written consent of the majority of the holders of the seed preferred shares.

Recital plans to use the investment of Lanebury for the purpose of financing Recital's continuing business operations.

The loan is a related party transaction pursuant to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. Mr. Tracey is the beneficial owner of Code, a director of Lanebury and a control person of Lanebury, and, as such, Mr. Tracey has abstained from voting with respect to the loan.

With respect to the loan, the company relied on the exemption from the valuation requirement pursuant to Section 5.5(b)(Issuer Not Listed on Specified Markets) of MI 61-101 and from the minority shareholder approval requirement prescribed by section 5.7(1)(f) (Loan to Issuer, No Equity or Voting Component) of MI 61-101.

There is no undisclosed material information by the company. Lanebury has at least one independent director, and all independent directors approved the loan.

About Lanebury Growth Capital Ltd.

Lanebury is an investment company with an investment strategy focused on building a portfolio of high-quality investments in technology start-ups. The company primarily targets investments that have a monthly revenue model and can be scaled easily using Internet and mobile technologies.

We seek Safe Harbor.