Vanity Capital Inc V.VYC.H

Letter of intent with XynaRx terminated

[VanityCapital]

Link:  www.vanitycapitalinc.com

VANITY CAPITAL INC. MUTUALLY TERMINATES
LETTER OF INTENT WITH XYNARX PHARMACEUTICALS CORP.

Vancouver, British Columbia, May 1, 2019 - Vanity Capital Inc. (TSXV: VYC) (the “Company”)
announces the expiration and mutual termination of the Letter of Intent between XynaRx Pharmaceuticals Corp. (“XynaRx”) – and the Company announced on March 14, 2019.

The Company spent considerable time and effort working towards closing this transaction and setting the infrastructure in place for Xynarx after the close of the transaction. The parties were not in position to finalize the Definitive Agreement by April 30, 2019, since several Conditions Precedent were not concluded such as XynaRx’s audited financial statements and other customary due diligence documentation. Based on the delays, the Company did not believe more time would have resolved matters between the parties.

Nick Segounis, the CEO of the Company said, “We are disappointed that we were unable to move forward with the XynaRx transaction. We had all the necessary documentation and shareholder support in place to move quickly. The Company is disappointed the transaction did not move forward; however, we have gained significant understanding about the cannabis pharma industry as a result of this experience. Our goal is to identify a team and business combination that can take full advantage of what Vanity offers and values our contribution and the loyalty of our existing shareholders.” The Company is now in a position to identify a team and business combination that fits with its shareholder’s values, vision and corporate direction. Vanity will immediately start looking for a new partner to complete a value-adding transaction.

Trading Halt

The shares of the Company are currently halted from trading. Trading is anticipated to resume at a date to be determined by the TSX Venture Exchange (“TSXV”) based on TSXV requirements and the Company will provide an updating news release with respect to the anticipated resumption of trading date once determined.

About Vanity

The Company is currently a TSXV listed junior exploration company seeking to complete a business transaction with a target company. The Company has over $470,000 in its treasury and has received shareholder approval to delist from the TSX Venture Exchange and move to either the CSE or NEO Exchange should the business of a target company require such a change. The shareholders of the Company have also approved the creation of super-voting shares which will allow the Company to quickly close a transaction with a U.S. based target should one be identified.

In February 2017, the Company staked 69 claims covering approximately 1,000 acres in the Phillips Township, Kenora District, Ontario (the “Phillips Property”). The Phillips property remains in good standing.

Contact

For further information, contact:
Nicholas Segounis
Chief Executive Officer
[phone]

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