Toronto, Ontario--(Newsfile Corp. - December 14, 2022) - CHICANE CAPITAL I CORP. (TSXV: CCIC) (the "Corporation") is pleased to announce that it has completed an initial public offering of 3,088,000 common shares of the Corporation (the "Common Shares") at a price of $0.10 per common share for gross proceeds of $308,800 (the "Offering").

Following the closing of the Offering, a total of 5,988,000 Common Shares are issued and outstanding, of which 2,900,000 are currently held in escrow pursuant to the policies of the TSX Venture Exchange (the "Exchange").

The current directors and officers of the corporation are John Travaglini, Chief Executive Officer, President and Director; Benhur Ghirmai, Chief Financial Officer and Corporate Secretary; Paul Wood, Director; James Allan, Director; and David Brown, Director. The net proceeds of the Offering, together with proceeds from prior sales of Common Shares will be used by the Corporation to identify and evaluate assets or businesses for acquisition with a view to completing a "Qualifying Transaction" under the capital pool company program of the Exchange.

Haywood Securities Inc. (the "Agent") acted as agent for the Offering. In connection with the Offering, the Corporation granted to the Agent non-transferable warrants to acquire up to an aggregate of 308,800 Common Shares at a price of $0.10 per Common Share at any time up to the earlier of December 14, 2027 and the date that is 12 months from the completion of the Corporation's Qualifying Transaction. The Agent also received a cash commission equal to 10% of the aggregate gross proceeds from the sale of the Common Shares under the Offering and a corporate finance fee of $12,500.

The Corporation also granted stock options to the directors and officers of the Corporation exercisable to acquire up to an aggregate of 300,000 Common Shares at any time until December 14, 2032 at a price of $0.10 per Common Share.

The Common Shares are expected to commence trading on Exchange under the stock symbol "CCIC" today.

For further information please see the final prospectus of the Corporation dated October 20, 2022, filed on SEDAR at .

For further information please contact:

John Travaglini
Chief Executive Officer
Tel: 416-861-1100

Cautionary Notes

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Forward-looking statements in this news release include, but are not limited to, the ability of the Corporation to complete a qualifying transaction. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Corporation believes that the expectations reflected in forward looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

Neither the 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 release.

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