Cobra Venture Corporation

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Cobra Venture Corporation (the “Corporation”) is pleased to announce that it has entered into an assignment and assumption agreement (the “Assignment Agreement”) with a corporation controlled by an insider of the Corporation (the “Assignor”), whereby the Assignor has agreed to assign to the Corporation all of its right and interest in an offer to purchase and interim agreement (the “Offer to Purchase”) between the Assignor, as purchaser, and a third party who is arm’s length party to the Corporation (the “Vendor”), as vendor.

This press release contains “forward looking statements” within the meaning of applicable Canadian securities legislation. The words “could”, “plan”, “expect”, “estimate”, “anticipate”, “project”, “predict”, “intend”, “may”, “potential”, “believe” and similar expressions and variations thereof are forward-looking statements.

Cobra Venture Corp . has completed a non-brokered private placement one million units of the corporation at a purchase price of 30 cents per unit for gross proceeds of $300,000. Each unit consists of one common share in the capital of the corporation and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at an exercise price of 35 cents per warrant for a period of 24 months from the date of the closing of the private placement.

Cobra Venture Corp. has completed a non-brokered private placement one million units of the corporation at a purchase price of 30 cents per unit for gross proceeds of $300,000.

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