Mr. Mervyn Pinto reports

MINAEAN SP CONSTRUCTION CORP. IN DISCUSSION WITH GOVERNMENT OF PERU FOR CONSTRUCTION OF A 300 BED MULTI DISCIPLINARY HOSPITAL

Minaean SP Construction Corp. is in discussions with the government of Lambayeque province, Peru, for the construction and non-clinical operation of a multidisciplinary 300-bed hospital in Chiclayo city.

Pursuant to the submission of expression of interest by Minaean SP Construction as per the request from the provincial government of Lambayeque province, Governor Anselmo Lozano made a press release to this effect and allocated a parcel of land in Chiclayo city upon receiving unanimous approval from his cabinet. The hospital project, which is to be executed on a public-private partnership model, needs a consortium of companies with variety of expertise; and Minaean SP Construction has signed agreements with global companies such as Perkins & Wills, Currie & Brown, and SYMX Holdings (Health Care) of the United States.

Subsequently, a memorandum of understanding was negotiated with government of Lambayeque, which has been submitted to the federal government of Peru for approval. Due to strict lockdowns and shift in priorities caused by the pandemic situation, there has been a delay in obtaining the approval. Minaean SP has now been advised that the Governor of Lambayeque is ready to resume discussions and get the approval of the memorandum of understanding from the federal government.

About Minaean SP Construction Corp.

Minaean SP Construction is a company known for its pioneering efforts in the manufacture of light-gauge steel components for the construction industry and modular metal buildings in India. The strong, affordable, ecologically sustainable structures present a promising solution to the mass housing shortages in developing countries in addition to a range of conventional applications. The company is an affiliate of known construction conglomerate Shapoorji Pallonji Group (SP) from India. SP is known for its expertise in construction of hospitals, with 45 such projects completed with a total bed capacity exceeding 19,000 beds.

The shares of Minaean SP Construction (parent company) are publicly traded on the TSX Venture Exchange under the symbol MSP and on the Berlin Stock Exchange and the Frankfurt Stock Exchanges under the symbol NJA.