Mr. Barry Coughlan reports

VATIC ANOUNCES TERMINATION OF CHANGE OF BUSINESS

Vatic Ventures Corp. has terminated its change of business as per its Nov. 6, 2019, and March 19, 2019, news releases. From Feb. 21, 2019, when trading in the shares of the company was halted at the request of the company, to the date hereof, the company had been carrying out due diligence in order to secure a valid and viable opportunity in the cannabis industry. As a result of due diligence, it has decided to no longer pursue the opportunities announced previously.

The company's board of directors has decided to terminate the Oct. 31, 2019, letter of intent for a share exchange to acquire Indian Ocean Organics Ltd. due to certain conditions precedent not being met, as per the letter of intent disclosed in the Nov. 6, 2019, news release. Vatic is not satisfied with its due diligence including, but not limited to, its review of the financing environment of the cannabis sector, and the political and the regulatory environment in certain jurisdictions as it relates to the cannabis industry. The company believes that, due to the softening of the cannabis financing market and a recovering minerals resources financing market, a strategic shift to the mineral resources industry will be essential in delivering long-term sustainable shareholder value.

Under certain financial agreements with Vatic, Indian Ocean has agreed to assume responsibility for the advance by the company of certain finances including a $205,000 ($150,000 (U.S.)) deposit of which $64,481 has been repaid by Indian Ocean leaving an outstanding balance of $140,519, as well as a due diligence costs outstanding balance of $175,277.53.

The company is actively reviewing and evaluating exploration and development opportunities in the mineral resources industry.

We seek Safe Harbor.