Whiteknight Acquisitions III Inc. Announces Update to Proposed Qualifying Transaction With Delivra Inc. and Terms of Non-Brokered Financing

TORONTO, ONTARIO--(Marketwired - Nov. 6, 2015) -

NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWSWIRES

Whiteknight Acquisitions III Inc. ("WKA" or the "Company") (TSX VENTURE:WKA.P), a capital pool company, is pleased to provide an update to its proposed transaction with Delivra Inc. ("Delivra") previously announced by press release on September 1, 2015 and which transaction will constitute the Company's qualifying transaction (the "Qualifying Transaction") pursuant to the TSXV Venture Exchange (the "Exchange") Policy 2.4 - Capital Pool Companies.

Private Placement Offering

It is anticipated that prior to closing of the Qualifying Transaction, Delivra will complete a non-brokered private placement financing of a minimum of 1,333,333 units and a maximum of 2,666,667 units at an issuance price of $0.75 per unit (the "Units") for aggregate gross proceeds of between CAD$1 million and CAD$2 million (the "Offering"). Each Unit will be comprised of one common share in the capital of Delivra and one-tenth of one right to acquire one common share of Delivra (each whole right, an "Additional Share Right"). Should the Qualifying Transaction not close by January 31, 2016, each Additional Share Right shall be automatically exercised for one common share of Delivra, without any further action on the part of the subscribers in the Offering (the "Subscribers") and without payment of additional consideration.

Finders of Subscribers in the Offering who are registered pursuant to the rules of National Instrument 31-103 - Registration Requirements, Exemptions and Ongoing Registration Obligations and related rules, will be entitled to receive finder's fees comprised of: a) a cash payment on closing of the Offering equal to 4% the amount of proceeds raised in the Offering by such finder, and b) broker's warrants in an amount equal to 5% of the number of Common Shares sold to Subscribers sourced by the finder in the Offering (the "Broker Warrants") with each such Broker Warrant entitling the holder thereof to purchase one common share of Delivra at an exercise price of $0.75 per share for a period of 18 months from the date of closing of the Offering. The finder's fees shall not be adjusted should the Additional Share Right be triggered.