PROSPECT PARK CAPITAL ANNOUNCES SHARE CONSOLIDATION

VANCOUVER, British Columbia, March 31, 2020 (GLOBE NEWSWIRE) -- Prospect Park Capital ‎ Corp. (the “Company”) ‎‎(TSXV:PPK), is ‎pleased to announce that its shareholders have voted at the annual and ‎special meeting of shareholders (the “Meeting”) on March 13, 2020 in favour of all matters put to shareholders at the ‎Meeting, including the share consolidation. For more information on the matters voted on at the Meeting, please see the Company’s management ‎information circular dated February 10, 2020 (the “Circular”), which is available on SEDAR at www.sedar.com.

Accordingly, effective April 2, 2020 (the “Effective Date”) at market open, the Company ‎will effect the consolidation (the “Consolidation”) of its common shares (the “Common Shares”) on the ‎basis of one (1) new post-Consolidation Common Share for every five (5) pre-Consolidation Common ‎Shares. The Consolidation has ‎been accepted by the Exchange.

As a result of the Consolidation, the 9,819,117 Common Shares currently issued and outstanding will ‎be reduced to approximately 1,963,823 Common Shares on a post-Consolidation basis.  No fractional ‎Common Shares will be issued pursuant to the Consolidation. In the event that a shareholder would ‎otherwise be entitled to a fractional Common Share in connection with the Consolidation, the number of ‎Common Shares issued to such shareholder shall be rounded down to the next greater whole number of ‎Common Shares, if the fractional entitlement is equal to or greater than 0.5 and shall, without any ‎additional compensation, be rounded down to the next lesser whole number of Common Shares if the ‎fractional entitlement is less than 0.5.‎

The Consolidation will affect shareholders uniformly, including holders of outstanding securities convertible into or exercisable for Common Shares (namely, the outstanding incentive stock ‎options) on the Effective Date.  The exercise price, number and exchange basis of the ‎stock ‎options on the Effective Date will be adjusted proportionally to reflect the Consolidation.‎

Registered shareholders will be required to exchange their share certificates representing pre-‎Consolidation Common Shares for new share certificates representing post-Consolidation Common ‎Shares. The registered holders of Common Shares will be sent a transmittal letter by the Company's ‎transfer agent, Computershare Investor Services Inc. The letter of transmittal will contain instructions on ‎how to surrender Common Share certificate(s) representing pre-Consolidation Common Shares to the ‎transfer agent. The transfer agent will forward to each registered shareholder who has sent the required ‎documents a new Direct Registration Advice (DRS Advice) representing the number of post-‎Consolidation Common Shares to which the shareholder is entitled.  Until surrendered, each share ‎certificate representing pre-Consolidation Common Shares of the Company will be deemed for all ‎purposes to represent the number of whole post-Consolidation Common Shares to which the holder is ‎entitled as a result of the Consolidation. Non-registered shareholders holding Common Shares through ‎an intermediary (such as a securities broker, dealer, bank or financial institution) should be aware that the ‎intermediary may have different procedures for processing the Consolidation. If shareholders hold their ‎Common Shares through an intermediary and they have questions in this regard, they are encouraged to ‎contact their intermediaries.