REX Opportunity Corp. Announces Closing of First Tranche of Milestone Private Placement Financing

Toronto, Ontario

December 16, 2020

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REX Opportunity Corp. ("REX" or the "Corporation") is pleased to announce that it has closed the first tranche of a non-brokered private placement ("Offering") of 557,715 Units at a price of $0.35 per Unit for aggregate gross proceeds of $195,200 including settlement of $15,000 of debt with arms' length creative service providers. Each Unit consists of one (1) common share of REX and one-half of one (1) common share purchase warrant with each whole warrant exercisable to purchase one common share of REX at an exercise price of $0.50 for a period of two years from the date of issuance. All securities issued in connection with the Offering are subject to a hold period of four months and one day. No fees or commissions were paid in connection with the Offering.

REX intends to use the proceeds of the Offering to continue developing and implementing its business strategy of investing in content creators and influencers by acquiring interests in their content and channels.

An insider of REX has participated in the Offering by subscribing for 300,000 Units. The participation by the insider in the Offering is considered to be a "related party transaction" as defined for the purposes of Multinational Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The related party transaction is exempt from the formal valuation and minority approved requirements pursuant to sections 5.5 (a) (b) and (c) and 5.7(1) (a) and (b) of MI 61-101 as the Corporation is not listed on a specified market, the transaction was a distribution of securities for cash and neither the fair market value of the Units distributed to nor the consideration received from the related party exceeded 25% of the issuer's market capitalization or $2,500,000. The Corporation did not file a material change report at least 21 days prior to completion of the Offering as the details of the participation by the related party had not been determined at that time.

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For further information contact:

REX Opportunity Corp.
Jim Boyle, CEO
jim@rexopportunity.com
www.rexopportunity.com

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