Mr. Michael Harrison reports

RAGING RHINO CAPITAL CORP. CLOSES ITS INITIAL PUBLIC OFFERING AND LISTS ON THE TSX VENTURE EXCHANGE

Raging Rhino Capital Corp. has successfully completed its initial public offering of 2.5 million common shares at 10 cents per share for gross proceeds of $250,000 pursuant to a prospectus dated Feb. 27, 2023.

Haywood Securities Inc. acted as agent for the offering. The agent received a cash commission of 10 per cent of the gross proceeds of the offering, a corporate finance fee and agent's warrants to purchase up to 250,000 common shares of the company at a price of 10 cents per share exercisable until 24 months after the company's common shares are listed on the TSX Venture Exchange.

Following completion of the offering, the company has 6,790,200 common shares issued and outstanding. All common shares issued at less than 10 cents per share, being 4,290,200 common shares, are held in escrow subject to an escrow agreement made pursuant to TSX Venture Exchange Policy 2.4 -- Capital Pool Companies.

The company's common shares have been listed on the TSX Venture Exchange as of today's date and immediately halted. It is expected that the company's common shares will commence trading on May 25, 2023, under the symbol RRCC.P.

The company previously granted to its directors and officers, pursuant to the company's stock option plan, 429,020 stock options at an exercise price of five cents per share, 299,160 of which were granted on Dec. 3, 2021, 51,429 of which were granted on Aug. 24, 2022, and 78,431 of which were granted on Nov. 6, 2022. The company has, effective today, issued a further 250,000 stock options at an exercise price of 10 cents per share. All of the options are fully vested and have an expiry date of 10 years from the date of grant.

All stock options are held in the escrow agreement.

About Raging Rhino Capital Corp.

The company is a capital pool company (CPC) within the meaning of the policies of the TSX Venture Exchange. The company has not commenced operations and has no assets other than cash. The company proposes to identify and evaluate business and assets with a view to completing a qualifying transaction under the TSX Venture Exchange Policy 2.4 -- Capital Pool Companies. The funds raised under the initial public offering will be used to pursue the company's qualifying transaction.

We seek Safe Harbor.