PRESS RELEASES

EVI Global Group closes $4-million private placement

EVI ANNOUNCES CLOSING OF OVERSUBSCRIBED NON-BROKERED PRIVATE PLACEMENT

EVI Global Group Developments Corp. has closed its non-brokered private placement previously announced on Sept. 5, 2018. Due to increased demand, the previously announced private placement was increased from $3-million to $4-million with 16 million units at a price of 25 cents per unit.

Each unit in the private placement comprises one common share and one-half of a transferable common share purchase warrant. Each whole warrant is exercisable into one additional common share at a price of 50 cents for a period of one year. The securities will be subject to a four-month-and-one-day hold period under applicable securities laws.

In connection with the private placement, EVI Global Group Developments paid certain arm's-length finders a finder's fee consisting of: (i) cash equal to 6 per cent of the total gross proceeds from subscribers introduced to EVI Global Group Developments by the applicable finder; and (ii) such number of finders' warrants equal to 6 per cent of the total number of shares issued to subscribers introduced to EVI Global Group Developments by the applicable finder. Each finder's warrant is exercisable into one additional common share at a price of 50 cents for a period of one year.

EVI Global Group Developments intends to use the net proceeds from the private placement for expenditures related to previously announced letter of intent with Borganic Consulting Inc., general working capital and other corporate matters.

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