Mr. Konstantine Tsakumis reports

FARSTARCAP CLOSES PRIVATE PLACEMENT OF UP TO $55,000

Farstarcap Investment Corp. has closed its previously announced non-brokered private placement financing (see news release dated June 27, 2024) by issuing 1.1 million common shares at a price of five cents per share for total proceeds of up to $55,000.

Insiders of the company have subscribed for the entire offering of 1.1 million common shares for gross proceeds of $55,000. The issuance of the shares to the insiders is considered a related party transaction subject to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the participation in the offering by the insider will not exceed 25 per cent of the fair market value of the company's market capitalization.

The securities under the offering will be subject to restrictions on resale until Dec. 28, 2024, and will also be subject to an escrow agreement among the company, certain securityholders of the company and Computershare Investor Services Inc. The company intends to use the net proceeds of the offering to meet the costs associated with meeting its ongoing reporting obligations and for general working capital purposes.

About Farstarcap Investment Corp.

The company is a capital pool company within the meaning and the policies of the TSX Venture Exchange. The company has not commenced operations and has no assets other than cash.

We seek Safe Harbor.