AmWolf Capital Corp. ('AmWolf' or the 'Company') (TSXV: AMW.P) provides the following update to supplement the disclosure related to the Company's previously announced and conditionally approved Qualifying Transaction, as defined under TSX Venture Exchange (the 'Exchange') Policy 2.4 - Capital Pool Companies ('Policy 2.4'), with Pontus Water Lentils Ltd. ('Pontus') and each of the respective Parties' (as defined below) concurrent private placements.

Qualifying Transaction Update

The Company, 1253044 B.C. Ltd., a wholly-owned subsidiary of AmWolf ('NewCo'), and Pontus (collectively, the 'Parties') continue to work towards the closing of the Transaction (the 'Closing') and, in connection therewith, Pontus has set December 22, 2020 as the date of its special meeting of shareholders where it will seek to approve the amalgamation of NewCo and Pontus and, in connection therewith, the continuation of Pontus out of the federal jurisdiction of the Canada Business Corporations Act and into the Province of British Columbia under the provisions of the Business Corporations Act (British Columbia)

About Pontus Water Lentils Ltd.

Pontus Water Lentils Ltd. was founded in 2018, and is a British Columbia-based agri-tech company. Pontus specializes in aquaponic farming through Closed Environment Vertical Aquaponics System or CEVAS system to create a sustainable, non-GMO plant-based protein product: 'Pontus Protein Power+'.

Contact:

Tel: (604) 837-7990

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