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A-Labs Capital II Corp. Announces Termination of Letter Of Intent with S.R.P. Plus Holdings Ltd.

V.ALAB.P

(via TheNewswire)

Vancouver, British Columbia - TheNewswire - September 1, 2020 - A-Labs Capital II Corp. (the "Company") (TSXV:ALAB.P) announces the termination of the letter of intent dated October 16, 2019 (the "Letter of Intent") entered into with S.R.P. Plus Holdings Ltd. ("VLife") in accordance with its terms. The Letter of Intent related to the proposed acquisition by the Company of 100% of the outstanding securities of VLife which would have constituted the Qualifying Transaction of the Company under the policies of the TSX Venture Exchange (the "Exchange"). For more information on the Letter of Intent, please see the Company's press release dated October 16, 2019, available at www.sedar.com.

The Company is a Capital Pool Company under Policy 2.4 - Capital Pool Companies of the Exchange and has not commenced commercial operations or has any assets other than cash. The Company will continue to pursue and evaluate other businesses and assets with a view of completing a Qualifying Transaction, as such term is defined under the policies of the Exchange.

The Company has made an application with the Exchange for a resumption of trading the common shares of the Company, which the Exchange has advised is accepted and which shall commence on September 4, 2020.

For further information, please contact:

Doron Cohen, CEO and Director of the Company

Email: doron@alabs.co

Telephone number: 972-545-224-017

NEITHER THE TSX VENTURE EXCHANGE INC. 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 RELEASE.

Caution Regarding Forward-Looking Information

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Forward looking statements in this news release include, but are not limited to, the resumption of trade of the Company's shares. Because of these risks and uncertainties and as a result of a variety of factors, including with respect to the proposed resumption of trading, the timing and receipt of all applicable regulatory and corporate approvals, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

Copyright (c) 2020 TheNewswire - All rights reserved.