Alchemist Announces Appointment of Globally Recognized Cannabis Industry Leader Zeta Ceti to the Board of Directors, Warrant Repricing and Changes to Its Board and Management

VANCOUVER, BC / ACCESSWIRE / August 9, 2019 / Alchemist Mining Inc. (CSE:AMS) ("AMS" or the "Company") is pleased to announce the appointment of cannabis industry leader and advocate Zeta Ceti to its Board of Directors.

"A globally recognized cannabis consultant and advocate, Zeta Ceti has more than 25 years of experience within multiple industry segments. Founder and CEO of Green Rush Consulting, an international cannabis consulting firm, Mr. Ceti and his team have the enviable successful track record of having won more than 100 cannabis licenses across the United States of America. Mr. Ceti has consulted with and assisted some of the most successful cannabis companies in Europe, Canada, Colombia, and Australia and is today considered to be amongst the top cannabis advisors in the world.

WARRANTS REPRICING

The Company also announces the repricing (the "Repricing") of 6,751,000 common share purchase warrants (the "Warrants"), originally issued by way of private placement on September 7, 2017, having an expiry date of September 7, 2019. Pursuant to the Repricing, the exercise price of the Warrants will be reduced from $0.075 to $0.055. The Company will not be sending out new warrant certificates unless requested by the relevant holders.

OTHER MANAGEMENT AND BOARD OF DIRECTORS CHANGES

The Company also announces that Paul Mann, CEO of the Company, has assumed the role as President.

Peter Born has resigned from the Board of Directors and David Gdanksi will no longer serve as President but shall remain on the Board. The Company thanks Mr. Born for his contributions to the Company and wishes him all the best in his future endeavours.

On Behalf of the Board,

Paul Mann, CEO
Alchemist Mining Inc.

For further information on this release, please contact:

Sukh Sandhu Investor Relations
Investors@alchemistinc.ca
1 844 420 CALI (2254) Ext 401

About Alchemist Mining Inc.

Upon effecting the Company's fundamental change, as announced on September 25, 2018, Alchemist's goal is to be a global provider of technology solutions to the cannabis sector. It will be primarily focused on investing and building a sustainable portfolio of business entities, by actively identifying opportunities in the developing global cannabis market, through a combination of acquisitions, incubations and investments, with a goal to create shareholder value.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "intends", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties, including: that the Company will not be able to execute its proposed business plan in the time required or at all due to regulatory, financial or other issues; that the Company's competitors may develop competing technologies; changes in regulatory requirements; and other factors beyond the Company's control. Additional risk factors are included in the Company's Management's Discussion and Analysis, available under the Company's profile on www.sedar.com. The forward-looking statements are made as at the date hereof and the Company disclaims any intent or obligation to publicly update any forward-looking statements, where because of new information, future events or results, or otherwise, except as required by applicable securities laws.

SOURCE: Alchemist Mining Inc.