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Pacific Iron Ore Agrees to Cease Proposed Reverse Takeover

Newsfile Corp.

Calgary, Alberta--(Newsfile Corp. - March 20, 2020) - Pacific Iron Ore Corporation (the "Corporation") announces that it has agreed with Think Technologies Corp. that, in light of volatile market conditions, they will not be proceeding with their proposed reverse takeover pursuant to their non-binding letter of intent dated February 3, 2020 (the "LOI"), and have instead terminated the LOI.

The Corporation will continue to search for new business opportunities and transactions.

For further information, please contact:

Pacific Iron Ore Corporation
Joel Freudman, President and Chief Executive Officer
Telephone: (647) 880-6414

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53657