FXC FAX Capital Corporation

FAX Capital Corp. (the Company) (TSX: FXC) announces that it has filed its financial results for the first quarter ended March 31, 2022. The Company’s Financial Statements and Management’s Discussion & Analysis for the quarter are available under the Company’s profile at www.sedar.com and www.faxcapitalcorp.com.

About FAX Capital Corp.

The Company is an investment holding company with a business objective to maximize its intrinsic value on a per share basis over the long-term by seeking to achieve superior investment performance commensurate with reasonable risk. The Company intends to invest in equity, debt and/or hybrid securities of high-quality businesses. The Company initially intends to invest in approximately 10 to 15 high-quality small cap public and private businesses located primarily in Canada and, to a lesser extent, the United States.

For additional information please contact:

Investor RelationsTim Foran Email: IR@faxcapitalcorp.comWebsite: www.faxcapitalcorp.com

Media RelationsKieran Lawler Telephone: (416) 303-0799 Email: Kieran.lawler@loderockadvisors.com

Cautionary Note Regarding Forward-Looking Information

This press release contains forward-looking information. Such forward-looking information or statements (“FLS”) are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such FLS may be identified by words such as “proposed”, “expects”, “intends”, “may”, “will”, and similar expressions. FLS contained or referred to in this press release includes, but is not limited to the Company’s investment approach, objective and strategies, including investment selection.

FLS involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company believes that the expectations reflected in the FLS are reasonable but no assurance can be given that these expectations will prove to be correct. Some of the risks and other factors which could cause results to differ materially from those expressed in FLS contained in this press release include, but are not limited to: the continuing impact and uncertainty created by the COVID-19 pandemic on targeted investments; Russia’s invasion of Ukraine; rising oil prices and related international tensions; as well as the identified risk factors included in the Company’s public disclosure, including the Company’s most recent Annual Information Form dated March 29, 2022 which is available on SEDAR at www.sedar.com and on the Company’s website at www.faxcapitalcorp.com. The FLS in this press release reflect the current expectations, assumptions, judgements and/or beliefs of the Company based on information currently available to the Company, and are subject to change without notice.

Any FLS speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any FLS, whether as a result of new information, future events or results or otherwise. The FLS contained in this presentation is expressly qualified by this cautionary statement. For more information on the Company, please review the Company's continuous disclosure filings that are available at www.sedar.com.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The Toronto Stock Exchange accepts no responsibility for the adequacy or accuracy of this release.