Mr. Livio Susin reports

NAVION ANNOUNCES SECOND LOI EXTENSION WITH DAIZEE DIAPERS AND PROVIDES SHAREHOLDER UPDATE

Further to the press release dated April 23, 2020, and Jan. 12, 2021, Navion Capital Inc. has entered into a second extension agreement in respect of the previously announced non-binding letter of intent with Daizee Diapers Corp. dated Jan. 11, 2021. The second LOI extension agreement extends the exclusivity period between the corporation and Daizee in the LOI to July 2, 2021, or such earlier or later time as the corporation and Daizee mutually agree, to provide more time for the parties to complete due diligence and enter into a definitive agreement.

Trading in Navion shares has been halted, and the halt is expected to remain in place until completion of the proposed transaction or further notice is provided.

Daizee is currently carrying out private placement financings to raise gross proceeds of approximately $3-million as part of the proposed transaction.

Since the corporation was granted listing on the TSX Venture Exchange as a capital pool company on May 23, 2018, the corporation has actively pursued a number of possible qualifying transactions.

Currently, the corporation has identified and is working with Daizee on the proposed transaction. The corporation is completing due diligence on Daizee and assisting with its proposed private placements; however, there can be no assurance that the corporation will complete the proposed transaction with Daizee as contemplated or at all.

The corporation would like to take this opportunity to thank its shareholders for their patience and continuing support as it works toward securing a qualifying transaction that will enhance and create value for the shareholders of the corporation.

About Daizee Diapers Corp.

Daizee is the maker of the patented Hybrid Diaper product line that is produced in Canada with compostable plant-based components that provide an excellent softness and environmental profile that helps reduce garbage levels. Daizee is building a baby brand on a platform of impact. Daizee intends to work with a network of retailer partners and their on-line and in-store sales channels to increase unit sales in North America and the United Kingdom while helping to reduce carbon emissions.

All information contained in this news release with respect to the corporation and Daizee was supplied by the parties, respectively, for inclusion herein, and each party and its directors and officers have relied on the other party for any information concerning the other party.

We seek Safe Harbor.