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Roughrider Enters into Letter of Intent to Acquire Greek Pharmaceutical Company

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June 19, 2019 / TheNewswire / Vancouver, B.C. - Roughrider Capital Corp. ("Roughrider" or the "Company") is pleased to announce that it has entered into a non-binding letter of intent ("LOI") with MEDHEL HELLAS SA ("MEDHEL"), pursuant to which Roughrider has an exclusivity period of 90 days (and extendable by a further 30 days) to acquire 100% of the issued and outstanding securities of MEDHEL in exchange for staged cash payments to be determined after completion of due diligence. MEDHEL is a 101 year old healthcare company based in Greece, with current revenue and attractive high-margin products under development that leverage our cultivation, processing and marketing expertise. The MEDHEL facility encompasses more than 70,500 square ft of EUGMP certified manufacturing floor space. The acquisition is part of a larger plan to develop an integrated pharmaceutical and cannabis cultivation business.

The Company is also providing a EUR 200,000 short term loan to MEDHEL repayable on the earlier of closing of the transaction via an offset against the purchase price or at the end of 6 months following drawdown. The loan will bear 8% per annum.

The transaction is subject to completion of due diligence by both parties. There can be no assurance that a transaction will be completed as proposed or at all. Roughrider will provide further disclosure by way of press releases and updates as such additional information becomes available.

About the Company

Roughrider Capital Corp. is a Canadian investment company that holds a 70% ownership interest in a licensed medicinal cannabis company in Lesotho where it has commenced development of its cultivation operations. The Company also maintains stable oil production through operations in southeastern Saskatchewan. The Company is focused on adding, creating and increasing value through the acquisition and development of value-added assets across a variety of sectors.

ON BEHALF OF THE BOARD

Sean McGrath

Director and CFO

Cautionary Statements regarding Forward-Looking Information:

Certain statements contained in this press release constitute forward-looking information as defined by law including without limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995 ("forward-looking statements"). These forward-looking statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

Copyright (c) 2019 TheNewswire - All rights reserved.

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