Vancouver, B.C., Canada – January 27, 2021. Ponderous Panda Capital Corp. ("PPCC") (TSXV:PPCC.P) is pleased to announce the results of the Company’s Annual General and Special Meeting of Shareholders held on January 20, 2021.

Results of Annual General and Special Meeting of Shareholders.

PPCC held its Annual General and Special Meeting on January 20, 2021. The following resolutions proposed by management of PPCC were unanimously passed:

1.        The number of Directors was set at five (5) and shareholders approved the re-election of Larry K.         Doan, Mike Y. C. Kao, Paul M. Laur, Hooi Hing (Henry) Lee and David W. Smalley as directors.  

2.        Davidson & Company, Chartered Accountants, were re-appointed as auditors of PPCC for         the ensuing year and the Directors have been authorized to fix their remuneration.

3.        PPCC’s existing stock option plan was reapproved. PPCC’s stock option plan will remain         a 10% “rolling” plan.  

4.        The shareholders of PPCC approved a special resolution to authorize, at the discretion of the         directors of PPCC, an amendment to the Articles of the Company in respect of voting at meetings         of the directors of the Company, if such an amendment was required in conjunction with a proposed         qualifying transaction.

5.        As allowed by Policy 2.4 of the TSX Venture Exchange (the “Exchange”) Corporate Finance         Manual effective January 1, 2021, the shareholders of PPCC (excluding the votes of Listed         Shares held by Non-Arm’s Length Parties to PPCC who own Seed Shares and their         Associates and Affiliates) approved a resolution         to remove the requirement to obtain majority         shareholder approval to list PPCC on the NEX board of the Exchange and to cancel certain Seed         Shares held by Non-Arm’s Length Parties to PPCC which was previously a required consequence         of PPCC failing to complete a Qualifying Transaction within 24 months after the date of listing of         the Common Shares of PPCC on the Exchange.

6.        As allowed by Policy 2.4 of the Exchange Corporate Finance Manual effective January 1, 2021,         the shareholders of PPCC (excluding the votes of  Listed Shares held by Non-Arm’s Length         Parties         to PPCC who own Seed Shares and their Associates and Affiliates) approved a resolution         to amend the CPC Escrow Agreement to which PPCC is a party to reduce the length of the         term of such escrow to a term that is not less than such as is permitted by section         10.2 of         Policy         2.4 of the Exchange Corporate Finance Manual effective January 1, 2021.

The amendments set out in paragraphs 5 and 6 will be implemented by the Company subject to approval of the Exchange. The Company does not expect to resume trading until its proposed qualifying transaction with Wild Leaf Ventures Group Inc., as announced by press release dated January 27, 2021, is completed or until the Exchange receives the requisite documentation to resume trading.

Further information regarding the resolutions passed can be found in the Company’s Information Circular as filed on the Company’s profile on SEDAR at www.sedar.com.

Management and the Board would like to thank PPCC’s shareholders for their continued support.

For further information, please contact:

David Smalley

President and Chief Executive Officer

Ponderous Panda Capital Corp.

Telephone:  (604) 684 4535

Email: david@smalleylawcorp.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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