ALQ Announces the Conditional Approval of Change of Business Transaction

ALQ Gold Corporation (CSE:ALQ) (the “Issuer”) is pleased to announce that it has received conditional approval from the Canadian Securities Exchange (the “CSE”) for its proposed change of business (the “COB”) from a mining issuer to an investment issuer, focusing on the cannabis sector.

Completion of the COB is subject to certain conditions including final CSE approval, shareholder approval and the filing of a CSE Listing Statement and associated disclosure.

The Issuer will provide a comprehensive shareholder update in respect of the proposed business and management of the Issuer following the COB in due course, and in the meantime will expeditiously seek final CSE approval of the COB and resumption of trading.

ON BEHALF OF THE BOARD

“Morgan Good”

Chief Executive Officer

Tel: 604-715-4751

Email: morgan@dukecapitalinc.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward- looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed transaction and the business and operations of the Company after the proposed COB. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the cannabis industry in North America. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. ALQ disclaims any intention or obligation to update or revise any forward- 2 looking statements, whether as a result of new information, future events or otherwise, except as required by law.