SMTH.P Smithe Resources Corp

Smithe Resources Corp. (TSXV: SMTH.P) (the “Company” or “Smithe”) is pleased to announce that it has successfully completed its Initial Public Offering (the "Offering") on the TSX Venture Exchange (the “Exchange”) and expects to commence trading as a capital pool company on October 25, 2021, under the symbol “SMTH.P”. The Company issued a total of 5,000,000 common shares at a price of $0.10 per share raising gross proceeds of $500,000.

Canaccord Genuity Corp. (the "Agent") acted as the Agent for the Offering. Pursuant to the agency agreement entered into by the Company and the Agent, the Agent received a cash commission equal to 10% of the gross proceeds of the Offering and an option to purchase 500,000 common shares at a price of $0.10 per share for a period of 24 months from the closing of the Offering.

Concurrent with the closing of the Offering, Smithe also granted 740,000 stock options to its directors and officers which are exercisable within five years from the date of grant at an exercise price of $0.10 per share. As a result of the closing of the Offering, Smithe now has 7,400,000 common shares issued and outstanding (2,400,000 of which are subject to escrow restrictions).

The Company is a capital pool company and intends to use the net proceeds of the Offering to identify and evaluate assets or businesses for acquisition with a view to complete a qualifying transaction (the “Qualifying Transaction") under the capital pool company program pursuant to Policy 2.4 of the Exchange.

About Smithe Resources Corp.

Smithe Resources Corp. 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: Sam Wong (Director), Matthew Roma (Director), Anthony Balic (Director) and Andrew Lau (CEO, CFO and Corporate Secretary). Except as specifically contemplated in the Exchange's CPC policy, until the completion of its Qualifying Transaction, the Company will not carry on business, other than the identification and evaluation of companies, businesses or assets with a view to complete a Qualifying Transaction.

For further information, please contact:

Andrew LauCEO, CFO & Corporate SecretaryPhone: +1 604-722-9633Email: andrewlau@evariscapital.com  

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.

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 news release.

Cautionary Note Regarding Forward-Looking Statements

This news release includes forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. All statements within, other than statements of historical fact, are to be considered forward-looking. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions may not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities may not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.