Mr. Ian McDonald reports

MOON RIVER CAPITAL LTD. ANNOUNCES UPSIZE TO NON-BROKERED PRIVATE PLACEMENT

Further to its press release of Sept. 13, 2023, Moon River Capital Ltd.'s previously announced non-brokered private placement of subscription receipts at a price of 25 cents per subscription receipt has been upsized to a maximum of 12 million subscription receipts for gross proceeds of up to $3-million.

In connection with the offering, Moon River may pay certain eligible persons (the finders) a cash commission equal to 7 per cent of the gross proceeds of the offering raised from subscribers introduced to Moon River by such finder and finder warrants equal to 7 per cent of the number of subscription receipts issued to subscribers of subscription receipts introduced to the company by such finder. Each finder warrant shall entitle the holder thereof to acquire one common share in the capital of the company at a price of 25 cents per common share for a period of 24 months following satisfaction or waiver of all conditions precedent to the company's proposed qualifying transaction and the receipt of all required board and regulatory approvals in connection with the offering and the proposed qualifying transaction.

All other terms of the offering remain unchanged and as announced on the company's press release dated Sept. 13, 2023.

About Moon River Capital Ltd.

Moon River is a capital pool company within the meaning of the policies of the TSX Venture Exchange that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the CPC policies of the TSX-V, until the completion of a qualifying transaction, the company will not carry on business, other than the identification and evaluation of companies, businesses or assets with a view to completing a proposed qualifying transaction. Investors are cautioned that trading in the securities of a CPC is considered highly speculative.

We seek Safe Harbor.