Apolo Acquisition Corp. Announces Update to Proposed Qualifying Transaction and Brokered Financing in CryptoGlobal

TORONTO, ONTARIO--(Marketwired - Nov. 24, 2017) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH US NEWSWIRE SERVICES

As previously announced on November 7, 2017, Apolo Acquisition Corp. ("Apolo" or the "Corporation") (TSX VENTURE:ACA.P) entered into a binding letter agreement dated November 6, 2017 setting out the general terms of a business combination with CryptoGlobal Inc. ("CryptoGlobal"), a privately held arm's length company incorporated under the Business Corporations Act (Ontario). CryptoGlobal operates in the distributed ledger technology space, utilizing specialized equipment to solve complex computational problems to validate transactions on the blockchain (a process known as "mining"), receiving digital or virtual currencies, including Bitcoin, Ethereum, Litecoin and Dash, in exchange for this service. CryptoGlobal's office and equipment are all located in the Province of Ontario. Subject to regulatory, shareholder, director and other approvals that may be required, and other conditions which shall be set out in a definitive business combination agreement among Apolo, a wholly-owned subsidiary of Apolo and CryptoGlobal, CryptoGlobal will amalgamate with a wholly-owned subsidiary of Apolo in order to facilitate the completion of Apolo's qualifying transaction (the "Transaction") in accordance with the policies of the TSX Venture Exchange (the "TSXV"). Application has been made to have the resulting issuer company (the "Resulting Issuer") categorized as a Tier 2 technology issuer on the TSXV upon completion of the Transaction.

CryptoGlobal Financing

Apolo is also pleased to announce that CryptoGlobal previously entered into an engagement letter with Canaccord Genuity Corp. on behalf of a syndicate of agents (together, the "Agents"), whereby the Agents will sell, on a commercially reasonable best efforts private placement basis, 12,000,000 common shares (the "CryptoGlobal Shares") at a price of $0.85 per CryptoGlobal Share for aggregate gross proceeds of $10,200,000 (the "Offering"). Closing of the Offering is subject to the execution of a definitive agency agreement and satisfaction of customary conditions set out therein. In consideration for their services, the Agents will receive a cash commission equal to 6.0% of the gross proceeds of the Offering.