Mr. Steve Vanry reports

PENDER STREET CAPITAL IMPLEMENTS BOARD AND MANAGEMENT CHANGES

Pender Street Capital Corp. has appointed Kevin Bottomley and John Cunningham to the company's board of directors, and has appointed Steve Vanry, a current director, as chief executive officer and chief financial officer.

Mr. Bottomley is an accomplished capital market adviser with a key focus on public venture capital. He is the founder of Corvidian Capital Inc. and has been instrumental in raising over $150-million for early- to mid-stage ventures, and has a strong network of global investors spanning from North America to Europe and Asia.

Mr. Cunningham has more than 20 years of experience working within the Canadian public markets, supporting hundreds of issuers listed on the TSX Venture Exchange and other North American exchanges. He has contributed to oversight of corporate governance, compliance and capital structure planning, and brings a practical understanding of the responsibilities and expectations associated with public company management. Mr. Cunningham has served in board and advisory roles for several public and private companies across sectors, including mining, technology, biotechnology and consumer products.

Concurrent with the appointments, Cody Campbell has resigned from the company's board of directors, and Mark Vanry has resigned as chief executive officer and chief financial officer but will remain on the board of directors.