Fengro Announces Conversion of Convertible Debenture

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES FENGRO ANNOUNCES CONVERSION OF CONVERTIBLE DEBENTURE

MARCH 20, 2020 - VANCOUVER, BRITISH COLUMBIA: Fengro Industries Corp. (TSX-V:FGR) (“Fengro” or “the Company”) is announcing that Tembo Capital Mining Fund LP has elected to exercise its right to convert the convertible debenture issued by the Company on June 12, 2018 (as amended). As a result, the Company will extinguish its liability in the amount of $1,313,484 of principal and interest in exchange for 5,472,851 common shares of the Company issued at a price of $0.24 per share.

The convertible debenture entitled Tembo to receive units consisting of one share and one half of a warrant on conversion. Tembo has waived its right to receive the warrants.

On behalf of Fengro Industries Corp.

Duane Lo, Director

For more information contact:

Email: [email protected] +1 (778) 994 6577

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