Trusted Brand 2016 Inc. Announces Extension of Letter of Intent Deadline and Resignation of CFO and Appointment of New CFO

CALGARY, ALBERTA--(Marketwired - April 24, 2017) -

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Trusted Brand 2016 Inc. ("Trusted Brand" or the "Corporation") TSX Venture Exchange (TSX VENTURE:HAH.P) announces that, further to the letter of intent in respect of its proposed Qualifying Transaction announced on February 15, 2017, it has agreed with 1367790 Alberta Ltd. and 2186774 Ontario Inc. (together, the "Holmes Services Companies") to extend the deadline for completion of the proposed Qualifying Transaction from May 31, 2017, to September 30, 2017. The parties anticipate being able to complete the transaction prior to September 30, however, they are allowing this additional time for the Holmes Services Companies to complete audited financial statements for its year ended December 31, 2016, and finalize documentation and information for the Filing Statement being prepared in conjunction with Qualifying Transaction disclosure.

The Corporation also announces the appointment of Charidy Lazorko as Chief Financial Officer to fill the vacancy created by the resignation of Mr. Kevin Saskiw, effective immediately. Mr. Saskiw has resigned as Chief Financial Officer of the Corporation for personal reasons and Trusted Brand would like to thank him for his contributions to the Corporation since inception.

Ms. Lazorko is a CPA, CGA with over 13 years of public and private company experience, and financial services, with an emphasis in corporate restructuring, amalgamations and asset acquisitions. She currently serves as the Chief Financial Officer of Blackhawk Resource Corp. Additionally, she has acted as a financial advisor for a multitude of other private transactions in numerous industries.

About Trusted Brand 2016 Inc.

Trusted Brand is a capital pool company ("CPC") within the meaning of the policies of the TSXV that has not commenced commercial operations and has no assets other than cash. The board of directors of the Corporation consists of Karen Stewart, Dave Antony, Robert Libin and Perla Woo. The officers of the Corporation are Karen Stewart (CEO), Charidy Lazorko (CFO) and Ted Geier (Vice President). Except as specifically contemplated in the CPC policy, until the completion of its Qualifying Transaction, the Corporation will not carry on business, other than the identification and evaluation of companies, business or assets with a view to completing a proposed Qualifying Transaction.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.