Early Warning Press Release in Accordance with National Instrument 62-103

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Vancouver, British Columbia–(Newsfile Corp. – August 10, 2020) – On August 7, 2020, pursuant to a non-brokered private placement financing carried out by Esstra Industries Inc. (TSXV: ESS) (the “Corporation“), Mr. Glenn Olnick of Vancouver, British Columbia, acquired ownership of 100,000 units (“Units“) of the Corporation at a price of $0.20 per Unit. The Units are comprised of 1 common share in the capital of the Corporation (each a “Common Share“) and 1/2 of a Common Share purchase (each whole warrant, a “Warrant“). Each Warrant entitles Mr. Olnick to purchase 1 Common Share at a price of $0.40 per Common Share until August 7, 2022, subject to accelerated expiry provisions. The Common Shares of the Corporation are listed on the TSXV under the trading symbol “ESS”.

Prior to giving effect to the foregoing acquisition of Common Shares, Mr. Olnick owned 846,000 Common Shares of the Corporation (or approximately 10.31% of the issued and outstanding Common Shares (non-diluted)). Mr. Olnick now owns or controls 946,000 Common Shares (or approximately 11.53% of the issued and outstanding Common Shares (non-diluted)).

In the future, Mr. Olnick may acquire additional securities of the Corporation, dispose of some or all of the securities he now owns or controls, or may continue to hold his current position.

For further information or to receive a copy of the early warning report filed by Mr. Olnick with securities regulatory authorities in Canada in connection with this press release, please contact Leah Hodges at (604) 377-0403.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/61438