Mr. Matthew Friesen reports

OCAL FINANCIAL INC. COMPLETES QUALIFYING TRANSACTION AND BEGINS TRADING ON THE TSX VENTURE EXCHANGE

Ocal Financial Inc. has completed its previously announced qualifying transaction with Ronin Ventures Corp. by way of three-cornered amalgamation and the common shares of the company are expected to commence trading on the TSX Venture Exchange under the symbol OCAL at the opening of market on July 21, 2026. The company begins its life as a public issuer as a fully remote, finance-first automotive platform with an operating history, motor-dealer licensing in two provinces, and expansion plans across Canada and the United States.

In connection with the qualifying transaction, Ronin Ventures changed its name to Ocal Financial and the company now carries on the business of Ocal. After giving effect to the qualifying transaction and the concurrent subscription receipt financing, the company has 36,667,803 common shares issued and outstanding. Securities held by principals of the company are subject to escrow in accordance with the requirements of the exchange. Further information regarding the company, its business and its financial position is set out in the company's filing statement dated July 9, 2026, available under the company's profile on SEDAR+.

The board of directors and management of the company are: Matthew Friesen, chairman and director, co-founder of Ocal, and a director and chief executive officer of a private equity investment firm; Mehdi Moghareh, chief executive officer and director, an automotive industry veteran with extensive experience in dealership operations, logistics and platform development; Terence Lee, chief financial officer and corporate secretary, a chartered professional accountant with experience in financial reporting under IFRS (international financial reporting standards); Michael Stier, director, an independent capital markets professional with experience across corporate structure, finance and public company governance; and Robert Birmingham, director.

Ocal operates a virtual automotive dealership built around a simple principle: Get the customer approved first, then source the right vehicle to fit that approval. The company operates entirely remotely and does not carry owned inventory; instead, it sources each vehicle after a customer is approved, drawing on national auction and partner channels. Ocal generates revenue from vehicle sales and related finance and protection products, and does not hold consumer loans or assume credit default risk. Its proprietary technology platform -- including AI-native (artificial intelligence) workflow orchestration, a lender-routing credit intelligence system, a voice AI platform and a centralized business intelligence system -- is purpose built for automotive transactions, and is designed to compress cycle times and improve consistency as volume grows.

The company's public listing arrives as consumer behaviour and lender infrastructure in Canada increasingly favour a digital-first model. Published industry data indicate that a majority of Canadian consumers now prefer digital or fully on-line financing experiences, that lenders increasingly support remote documentation and e-signature, and that only a minority of dealerships currently offer a fully remote financing process. Ocal intends to use its public platform to expand into new provinces -- beginning with Ontario -- and to continue investing in the automation that underpins its unit economics, in each case subject to obtaining required licences and approvals and to market conditions.

As a newly listed issuer, Ocal intends to maintain a disciplined approach to disclosure, governance and reporting, and to grow its footprint in a measured, milestone-driven way.

"Listing on the TSX Venture Exchange is a milestone the entire team has worked toward and it is a beginning rather than an end," said Mr. Moghareh. "We have shown the model works in British Columbia and Alberta. Being public gives us the platform and the capital to bring a finance-first, fully remote way of buying a car to many more Canadians."

"We are entering the public market with a clean capital structure, a defined use of proceeds and a governance framework built for scale," said Mr. Friesen. "Our job now is to convert an operating track record into transparent, measurable growth for shareholders."

About Ocal Financial Inc.

Ocal Financial is an asset-light, AI-native virtual automotive dealership and vehicle finance platform. Operating remotely and licensed in British Columbia and Alberta, Ocal moves customers from application to approval, vehicle matching, digital contracting and delivery in a single workflow. Rather than carrying owned inventory, Ocal sources each vehicle only after a customer is approved, drawing on the Openlane auction network and select partners. Ocal earns revenue from vehicle sales and related finance and protection products, and does not hold consumer loans or assume credit default risk. Its proprietary technology stack -- workflow orchestration, a lender-routing credit intelligence system, voice AI and a centralized business intelligence system -- is purpose built for automotive transactions.

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