Lanebury Growth Capital Ltd. (CSE: LLL) ('Lanebury' or the 'Company') provides status update on the Management Cease Trade Order ('MCTO'), which was granted on October 30, 2019 by the British Columbia Securities Commission and the release of its audited annual financial statements and accompanying management's discussion and analysis for the fiscal year ended June 30, 2019 (the 'Annual Filings').

Subsequently, the Company announced there was a delay in filing of its interim financial statements and accompanying management's discussion and analysis for the three-month period ended September 30, 2019 ('Quarterly Filings'). As a result of recent changes in International Financial Reporting Standards 9 ('IFRS 9') related to the determination of the fair value of investments made by an issuer and the resulting accounting treatment for such interests in financial statements for public issuers, certain of the Company's historical investments will now need to be accounted for using the fair value method of accounting provided for under IFRS 9. This in turn requires an audit of the companies invested, which has resulted in unforeseen delays. The Company has made progress in respect of the Annual Filings and currently expects to complete its financial statements by December 27, 2019. The Quarterly Filings will be completed shortly after the completion of the Annual Filings. Until the Company files the Annual and Quarterly Filings, it will comply with the alternative information guidelines set out in National Policy 12-203 - Management Cease Trade Order for issuers who have failed to comply with a specified continuous disclosure requirement within the times prescribed by applicable securities laws. The guidelines, among other things, require the Company to issue bi-weekly default status reports by way of a news release so long as the Annual and Quarterly Filings have not been filed.

About Lanebury Growth Capital Ltd.

Lanebury is an investment company with an investment strategy focused on building a portfolio of highquality investments in technology start-ups. The Company primarily targets investments that have a monthly revenue model and can be scaled easily using internet and mobile technologies.

FORWARD-LOOKING INFORMATION

This news release contains 'forward-looking information' within the meaning of applicable securities laws relating to the outlook of the business of Lanebury, including, without limitation, statements relating to the timing and completion of necessary accounting and review procedures to complete the Annual and Quarterly Filings and other factors beyond our control. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as 'believes', 'expects', 'anticipates', 'estimates', 'intends', 'plans', 'continues', 'project', 'potential', 'possible', 'contemplate', 'seek', 'goal', or similar expressions, or may employ such future or conditional verbs as 'may', 'might', 'will', 'could', 'should' or 'would', or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical fact contained in this news release are forward-looking statements. Forward-looking information is based on certain key expectations and assumptions made by the management of Lanebury. Although Lanebury believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on them because Lanebury can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements contained in this news release are made as of the date of this news release. Lanebury disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Contact:

Tel: ?604 428-7050

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