MERC.P Mercury Acquisitions Corp

Mercury Acquisitions Corp. (the “Company” or “Mercury”) (TSX Venture: MERC.P) is pleased to announce that it has completed its initial public offering of 40,000,000 common shares (each a “Common Share”) to purchasers in British Columbia and Alberta at a price of $0.10 per Common Share for gross proceeds of $4,000,000 (the “Offering”).

Leede Jones Gable Inc. (the “Agent”) acted as agent in respect of the Offering, in connection with which it received a cash commission equal to 8% of the aggregate gross proceeds of the Offering and an administrative fee. In addition, options to purchase an aggregate of 3,200,000 Common Shares (“Agent’s Options”) were issued to the Agent and its selling group. Each Agent’s Option entitles the holder to acquire one Common Share at an exercise price of $0.10 per Common Share for a period of 60 months from the date the Common Shares are listed on the TSX Venture Exchange (the “Exchange”).

At the closing of the Offering, the Company also granted stock options (“Stock Options”) to directors of the Company to acquire up to an aggregate of 4,150,000 Common Shares. Each Stock Option is exercisable to acquire one Common Share at a price of $0.10 any time prior to May 11, 2031.

Following completion of the Offering, the Company has 50,000,000 Common Shares issued and outstanding, 10,000,000 of which are subject to escrow restrictions as disclosed in the Company’s final prospectus dated March 31, 2021 (the “Prospectus”). The Exchange has accepted the Company’s listing application and the Common Shares were listed on the Exchange at the opening of business on May 11, 2021. The Common Shares will commence trading on the Exchange at the opening of business on Thursday, May 13, 2021, under the symbol “MERC.P”.

For further information please refer to the Prospectus, which is available to the public under the Company’s profile on SEDAR at www.sedar.com.

About the Company

The Company is a capital pool company (“CPC”) within the meaning of the policies of the Exchange that has not commenced commercial operations and has no assets other than cash. The current directors and officers of the Company are: Clifford Starke (CEO, CFO, Corporate Secretary and Director), Peter Simeon (Director) and Hani Zabaneh (Director). Except as specifically contemplated in the CPC policies of the Exchange, until the completion of its “Qualifying Transaction” (as defined therein), the Company will not carry on business, other than the identification and evaluation of companies, business or assets with a view to completing a proposed “Qualifying Transaction”.

For further information please contact Clifford Starke, CEO of the Company at (416) 727-4554.

Not for distribution to United States newswire services or for dissemination in the United States. These securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state, and may not be offered or sold in the United States unless an exemption from registration is available. This press release does not constitute an offer to sell or the solicitation of any offer to buy these securities in the United States.

Investors are cautioned that trading in the securities of a CPC should be considered highly speculative.

Neither 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.

Notice on Forward-Looking Information

This news release includes 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. Mercury cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Mercury’s control. Such factors include, among other things: risks and uncertainties relating to Mercury’s expectation to list its Common Shares on the Exchange, its ability to identify, evaluate and complete a Qualifying Transaction and other risks and uncertainties, including those described in the Prospectus filed with the Canadian Securities Administrators and available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Mercury undertakes no obligation to publicly update or revise forward-looking information.