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CALGARY, Alberta – TheNewswire - January 17, 2024. FLORENCE ONCE CAPITAL INC. (TSXV:FONC.P) (the "Company" or "Florence One"), a capital pool company, announces that, further to the Company’s news release dated October 26, 203, the Company and Privestia BV have agreed to terminate the letter of intent (the “Letter of Intent”) dated September 8, 2023.  The transaction contemplated under the Letter of Intent with Privestia BV was to be the Company’s qualifying transaction.

The Company will continue to seek other opportunities to complete the Company’s qualifying transaction. 

For further information please contact:

Mohammad Fazil

Tel: +1 (403) 613-7310

Email: mofazil@gmail.com

Neither the TSX Venture Exchange nor its regulation services provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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; the terms and conditions of the proposed Financing; future developments and the business and operations of the "Resulting Issuer" after the proposed Transaction. 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; and delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that the Transaction will proceed and 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. The Corporation and Podium disclaim 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 required by law.