Mr. Alan Simpson reports

PROTON CAPITAL FILES PRELIMINARY LONG FORM PROSPECTUS

Further to Proton Capital Corp.'s news releases dated April 20, 2023, July 26, 2023, Aug. 31, 2023, Oct. 10, 2023, and Feb. 21, 2024, it has obtained a receipt for the preliminary long form prospectus filed with the securities regulatory authorities in each of the provinces of Canada, other than Quebec. The prospectus contains important detailed information regarding the corporation's proposed qualifying transaction pursuant to Policy 2.4 -- Capital Pool Companies of the policies of the TSX Venture Exchange, being the proposed acquisition of 75 per cent of the outstanding shares of Saskatoon Family Pharmacy Ltd. and the strategic alliance with PharmaChoice Canada Inc., and the brokered public offering of up to 100 million common shares in the capital of the corporation at a price of 40 cents per share, for gross proceeds of up to $40-million, to be conducted by iA Private Wealth Inc. as the exclusive agent on a best efforts basis.

Copies of the prospectus may be obtained on SEDAR+ under the corporation's profile and from iA Private Wealth, 219, 2nd Ave. South, Saskatoon, Sask., S7K 1K8. Prospective investors should read the prospectus and the other documents the corporation has filed under its issuer profile on SEDAR+ before making an investment decision.

Other information and halt

Completion of the qualifying transaction is subject to a number of conditions, including but not limited to, TSX-V acceptance and, if applicable pursuant to TSX-V requirements, majority of the minority shareholder approval. Where applicable, the qualifying transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the qualifying transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the prospectus, any information released or received with respect to the qualifying transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The prospectus has not yet become final for the purpose of a distribution of securities to the public.

In accordance with the policies of the TSX-V, the common shares in the capital of the corporation are currently halted from trading and will remain halted until further notice.

About Proton Capital Corp.

Proton was incorporated on Sept. 1, 2021, by certificate of incorporation issued pursuant to the provisions of the Business Corporations Act (Alberta). Proton is classified as a capital pool company (CPC) as defined in Policy 2.4 of the TSX-V. The principal business of Proton is to identify and evaluate assets or businesses with a view to potentially acquire them or an interest therein by completing a purchase transaction, by exercising of an option or by any concomitant transaction. The purpose of such an acquisition is to satisfy the related conditions of a qualifying transaction as defined under TSX-V policies. Proton's shares trade on the TSX-V under the trading symbol PTN.P.

We seek Safe Harbor.