Percy Street Capital Corporation and Bonne O Holdings Inc. Announce Termination of Qualifying Transaction

OTTAWA, ONTARIO--(Marketwired - June 20, 2017) -

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

Percy Street Capital Corporation ("PSCC" or the "Company") (TSX VENTURE:PSC.P) announced today that the Company and Bonne O Holdings Inc. ("BOHI") have terminated the proposed share exchange agreement previously announced December 13, 2016 and described more fully in the Company's filing statement dated March 31, 2017 (the "Transaction"). BOHI will pursue private financing. The Company is a capital pool company and intended for the Transaction to constitute its Qualifying Transaction as such term is defined in the policies of the TSX Venture Exchange.

BOHI expects to close a private financing and to repay PSCC's loan of $225,000 as well as reimburse PSCC for certain expenses incurred.

The Company is seeking alternative Qualifying Transactions.

All information contained in this news release with respect to PSCC and BOHI was supplied by the parties, respectively, for inclusion herein, and PSCC and its directors and officers have relied on BOHI for any information concerning such party.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.

The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.