Mr. Hugh Notman reports
NEWS RELEASE FOR DISSEMINATION
On Nov. 28, 2016, Russell Breweries Inc. held a general meeting of its shareholders at which shareholders approved (i) the disposition of the company's brewery assets, (ii) the subsequent distribution of the company's remaining assets to the shareholders by way of return of capital; (iii) the voluntary dissolution of the company in accordance with the Business Corporations Act, British Columbia; and (iv) the delisting of the company's common shares from the TSX Venture Exchange. The company has completed the disposition of the company's brewery assets, and the distribution of the company's remaining assets to the shareholders by way of return of capital. However, current directors consider there to be value remaining in the company, by virtue of it being a reporting issuer listed on the TSX Venture Exchange; and as such consider it prudent to continue the company's existence and not dissolve or delist the company (as also authorized by the company's shareholders at the Nov. 28, 2016, meeting).
Other than the above, there are no material changes in the business or affairs of the company which have not been previously disclosed. The company will continue to investigate new business opportunities. At this time no new acquisitions have been identified, and there is no assurance that any new business opportunities will be identified or closed.