Mr. David Robinson reports

ALMO CLOSES SECOND AND FINAL TRANCHE OF PRIVATE PLACEMENT

Almo Capital Corp. has closed the second and final tranche of the non-brokered private-placement offering of up to $250,000 (3,333,333 units at a price of 7.5 cents per unit) that was announced on April 14, 2016, and May 13, 2016. In this tranche, the company issued 1,236,000 units at a price of 7.5 cents per unit for gross proceeds of $92,700. Each unit comprises one common share and one share purchase warrant. Each warrant entitles the holder to acquire one additional share in the capital of the company at a price of 15 cents until July 6, 2018. Finder’s fees of 7 per cent were paid to Canaccord Genuity Corp. ($5,040) and PI Financial Corp. ($1,449).

The common shares comprising the units and any shares issued upon the exercise of any warrants are subject to a hold period expiring at midnight on Nov. 6, 2016.