Vancouver - Further to its news release dated May 31, 2022, Zenith Capital Corporation (TSXV: ZENI.P), a capital pool company listed on the TSX Venture Exchange, provides the following update with respect to the Company's previously announced transaction with Venda Robotix Ltd. ('Venda'), pursuant to which Zenith will acquire all of the issued and outstanding securities of Venda (the 'Transaction').

The Transaction is intended to constitute the Company's qualifying transaction (the 'Qualifying Transaction') pursuant to Policy 2.4 - Capital Pool Companies ('Policy 2.4') of the TSXV Corporate Finance Manual. The Transaction is subject to the approval of the TSXV, execution of a definitive agreement and other closing conditions customary for a transaction of this nature. Due to ongoing negotiations regarding the terms of the Transaction, Zenith and Venda have entered into an amending agreement dated June 29, 2022 (the 'Amending Agreement'). The Amending Agreement amends certain terms of the previously announced amended and restated letter of intent dated April 14, 2022, as further amended on May 30, 2022, including extending the deadline for entering into a definitive agreement in connection with the Transaction until August 29, 2022. Additionally, the Company and Venda have agreed to extend the deadline for closing the Transaction until September 30, 2022.

Contact:

Tel: 604-836-6667

Cautionary Note Regarding Forward-Looking Statements

Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to: the entering into and the terms and conditions of the definitive agreement and completion of the transactions contemplated therein; receipt of TSXV approval and the closing of the Transaction. Often, but not always, forward-looking statements or information can be identified by the use of words such as 'estimate', 'project', 'belief', 'anticipate', 'intend', 'expect', 'plan', 'predict', 'may' or 'should' and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information.

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