Beretta Ventures Announces Changes in Accordance with New CPC Policy Which Became Effective on January 1, 2021

VANCOUVER, BC / ACCESSWIRE / September 16, 2021 / Beretta Ventures Ltd. (the "Company") (TSXV:BRTA.H) announces that due to changes announced by the TSX Venture Exchange(the " Exchange ") to its Capital Pool Company programand changes to the Exchange's Policy 2.4 - Capital Pool Companies , which became effective as at January 1, 2021 (the " New CPC Policy "), the Company has implemented certain amendments to align its policies with the New CPC Policy.

Pursuant to the New CPC Policy, the Company obtained majority approval of its disinterested shareholders at its Annual General and Special Meeting held on September 10, 2021, to (i) amend the Company's Stock Option Plan (the " Option Plan ") to become a "10% rolling" plan prior to the Company completing a Qualifying Transaction (" QT "), allowing the total number of common shares of the Company(the " Shares ") reservedfor issuance as options not to exceed 10% of the Sharesissued andoutstanding as at the date of grant,rather than at the closingdate of the initial publicoffering (" IPO "); (ii) to allow for payment of finder's fees or commission to non-arm's length parties in accordance with the New CPC Policy, and (iii) to amend the escrow release conditions and certain other provisions of the Company's Escrow Agreement (the " Escrow Agreement ").

The amendments to the Escrow Agreement allow the Company's escrowedsecurities to be subject to an 18-month escrow release schedule as detailed in the New CPC Policy, rather than the current 36-month escrow release schedule in the Former CPC Policy. In addition, all options granted prior to the date the Exchange issues a final bulletin for the QT (" Final QT Exchange Bulletin ") and all Shares that are issued upon exercise of such options prior to the date of the Final QT Exchange Bulletin will be released from escrow on the date of the Final QT Exchange Bulletin, other than options that (a) were granted prior to the IPO with an exercise price that is less than the issue price of the Shares issued in the IPO and (b) any Shares that were issued pursuant to the exercise of such options, which will be released from escrow in accordance with the 18 month escrow release schedule as detailed in the New CPC Policy. The Company currently has no options granted or outstanding.

These amendments became effective for the Company on September 15, 2021.

Other Changes:

Under the New CPC Policy, the Company has also implemented the following additional changes which did not require shareholder approval:

1. increased the maximum aggregate gross proceeds to the treasury that the Company can raise from the issuance of Shares in the IPO, seed shares and private placement to the new maximum of $10,000,000, rather than $5,000,000 which was the limit under the Former CPC Policy;
2. removed the restriction which provided that no more than the lesser of 30% of the gross proceeds from the sale of securities issued by the Company and $210,000 may be used for purposes other than identifying and evaluating assets or businesses and obtaining shareholder approval for a proposed qualifying transaction, and implemented the new restriction on the permitted use of proceeds and prohibited payments under the New CPC Policy, under which reasonable general and administrative expenses not exceeding in aggregate $3,000 per month are permitted;
3. removed the restriction on the Company issuing new agent's options in connection with a private placement; and
4. removed the restriction such that prevented one person from acting as the chief executive officer, chief financial officer, and corporate secretary of the Company at the same time.

The Company continues to investigate and pursue strategic opportunities with a view to enhancing shareholder value through the completion of a Qualifying Transaction.

About Beretta Ventures

The Company is a capital pool company pursuant to Policy 2.4 of the Exchange. Except as specifically contemplated in such policy, until the completion of its QT (as defined in the policy), the Company will not carry on business, other than the identification and evaluation of companies, businesses or assets with a view to completing a proposed QT. Investors are cautioned that trading in the securities of a capital pool company is considered highly speculative.

On behalf of the Board,

Scott Ackerman
CEO, CFO, Corporate Secretary and Director

For further information:

Beretta Ventures Ltd.
1600 - 609 Granville Street
ancouver, BC V7Y 1C3
(778) 331-8505

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

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable law.

SOURCE: Beretta Ventures Ltd.