Rafina Innovations Inc. announced that effective October 3, 2018, Mr. Sotirios Leontaritis resigned from his position as the President, Director and Chief Financial Officer of the company. Mr. Leontaritis' resignation was not the result of any disagreement with the Corporation regarding operations, policies, practices or otherwise. Effective October 3, 2018, Mr. Nikolaos Kardaras resigned from his position as the Secretary and Director of the company.

Mr. Kardaras' resignation was not the result of any disagreement with the Corporation regarding operations, policies, practices or otherwise. Mr. Kardaras will continue to consult for the company as an independent contractor in his capacity as in-house legal counsel. Concurrent with the aforementioned resignations, the Board of Directors appointed Mr. Constantinos Zertalis ("Zertalis") as a member of the Board of Directors and the President of the company and Miss Paraskevi Pylarinou ("Pylarinou") as a member of the Board of Directors, Secretary and CFO of the Company.

Mr. Zertalis is not an officer or director of any other reporting issuers. Other than as set out above. Miss Pylarinou received a Bachelor's Degree in Public Policy and Strategic Planning from the Panteion University of Athens, Greece in 2010 and a Master in Business Administration of Piraeus University, Section of Executive Management and Business Administration of Piraeus, Greece, in 2017.

Miss. Pylarinou is not an officer or director of any other reporting issuers.