BRL Bearclaw Capital Corp

Bearclaw Capital Corp. (TSX-V: BRL.H) (the “Company”) announces that effective February 13, 2020 the listing of the Company’s shares was transferred from the TSX-V, to the NEX, a separate board of the TSX-V for not maintaining the requirements of a Venture Tier 2 company in accordance with TSX Venture Policy 2.5. With the transition to the NEX, the Company’s trading symbol will change from BRL to BRL.H. There is no change in the Company’s name, its CUSIP number and there is no consolidation of Capital.

On behalf of the Board

Scott M. Ross, President and Chief Executive OfficerBearclaw Capital Corp.

Bearclaw Capital Corp.214-3540 West 41st AvenueVancouver, British ColumbiaV6N 3E6

Tel: 1-604-803-4883Email: scott.ross@bearclawcapitalcorp.com

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.