Routemaster Closes Private Placement

TORONTO, ONTARIO--(Marketwired - Dec. 8, 2017) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Routemaster Capital Inc. (TSX VENTURE:RM) ("Routemaster" or the "Company") has closed its previously announced non-brokered private placement financing of 10,000,000 Routemaster common shares at a price of $0.10 per share for gross proceeds of $1,000,000 (the "Financing").

Routemaster intends to use the proceeds of the Financing for potential investment opportunities and general corporate purposes.

In connection with the closing of the Financing, the Company paid finder's fees of $60,000 in cash and issued 600,000 non-transferable finder's warrants ("Finder's Warrants"). Each Finder Warrant will entitle the holder thereof to purchase one Routemaster share at a price of $0.10 for a period of 24 months from the date of the closing of the Financing.

The securities issued pursuant to the Financing are subject to a statutory hold period which expires on April 8, 2018. The financing remains subject to receipt of final approval from the TSX Venture Exchange.

About Routemaster Capital Inc.:

Routemaster Capital Inc. is a Canadian investment company that carries on business with the objective of enhancing shareholder value. 

FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements, including statements regarding the intended use of proceeds, closing conditions and timing and other matters relating to the Financing. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf, except as required by applicable law.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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.