Rebel Capital 2.0 Corp. ('Rebel' or the 'Corporation') is pleased to announce that it has entered into a definitive agreement dated January 3, 2020 (the 'Definitive Agreement') with Alzex Biomedical Group Inc. ('Alzex'), a privately held corporation existing under the provisions of the Business Corporations Act (British Columbia) (the 'BCBCA'), in furtherance of Rebel's proposed business combination (the 'Qualifying Transaction') with Alzex all as previously disclosed in Rebel's news release dated September 30, 2019, a copy of which, along with the Definitive Agreement, is available on Rebel's company profile at www.sedar.com.

Definitive Agreement

Pursuant to the terms of the Definitive Agreement, a special-purpose subsidiary of Rebel will amalgamate with Alzex under the BCBCA (the 'Amalgamation') and Rebel (then, the 'Resulting Issuer') will carry on the business of Alzex under the name 'Alzex Biomedical Group Inc.'. Immediately prior to the completion of the Amalgamation, Rebel will consolidate all of its issued and outstanding common shares ('Rebel Shares') on the basis of one postconsolidation Rebel Share for every two pre-consolidation Rebel Shares. At the effective time of the Amalgamation (the 'Effective Time'), each issued Alzex common share will be cancelled and replaced by one common share in the capital of the Resulting Issuer (a 'Resulting Issuer Share') and all other outstanding convertible securities of Alzex will become exercisable for Resulting Issuer Shares in accordance with the terms of the Definitive Agreement.

Contact:

Tel: (604) 428-5171

Cautionary Statements

This news release contains 'forward-looking information' within the meaning of applicable securities laws relating to the proposal to complete the Qualifying Transaction and associated transactions, including statements regarding the terms and conditions of the Qualifying Transaction, the Alzex Financing, the Subscription Receipt Offering, and the Consolidation and the Name Change. The information about Alzex contained in the press release has not been independently verified by Rebel. Although Rebel believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because Rebel can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the parties will not proceed with the Qualifying Transaction, the Alzex Financing, the Subscription Receipt Offering, the Consolidation, the Name Change and associated transactions, that the ultimate terms of the Qualifying Transaction, the Alzex Financing, the Subscription Receipt Financing, the Consolidation and the Name Change and associated transactions will differ from those that currently are contemplated, and that the Qualifying Transaction, the Alzex Financing, the Subscription Receipt Offering, the Consolidation, the Name Change and associated transactions will not be successfully completed for any reason (including the failure to obtain the required approvals or clearances from regulatory authorities). The terms and conditions of the Qualifying Transaction may change based on Rebel's due diligence (which is going to be limited as Rebel intends largely to rely on the due diligence of other parties of the Qualifying Transaction to contain its costs, among other things) and the receipt of tax, corporate and securities law advice for both Rebel and Alzex. The statements in this press release are made as of the date of this release. Rebel undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Rebel, Alzex, their securities, or their respective financial or operating results (as applicable).

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