Mr. Gordon Chmilar reports

PRESTWICK CAPITAL CORPORATION ANNOUNCES COMPLETION OF INITIAL PUBLIC OFFERING

Prestwick Capital Corp. Ltd. has completed its initial public offering of two million common shares at the price of 10 cents per common share for gross proceeds of $200,000 and has filed for listing as a capital pool company on the TSX Venture Exchange. Canaccord Genuity Corp. acted as agent under the offering. The common shares of Prestwick were approved for listing on the TSX-V on July 31, 2023, and are expected to commence trading on the TSX-V on Aug. 2, 2023, under the trading symbol PWIK.

As a result of the closing of the offering, Prestwick now has 11,050,100 common shares issued and outstanding (9,050,100 of which are subject to escrow restrictions), 200,000 common shares reserved for issuance upon the exercise of agent options granted upon completion of the IPO and 1,105,000 common shares reserved for issuance upon the exercise of stock options issued to directors/officers of the corporation.

The agent received a cash commission equal to 10 per cent of the total gross proceeds of the IPO, a corporate finance fee and the agent's options exercisable at a price of 10 cents per common share up to Aug. 1, 2028.

The net proceeds of the offering will be used by the corporation to identify and evaluate assets or businesses for acquisition with a view to completing a qualifying transaction under the capital pool company program of the TSX-V as disclosed in the corporation's prospectus dated May 12, 2023.

The following individuals comprise Prestwick's board of directors and management team: Rufus Round (chief executive officer and director), Gordon Chmilar (chief financial officer, corporate secretary and director), Rupert Williams (director) and Angus Campbell (director).

We seek Safe Harbor.