Mr. David Kinder reports

BIG ROCK BREWERY INC. ANNOUNCES INCREASE TO PRIVATE PLACEMENT

Big Rock Brewery Inc., due to substantial interest, has increased the maximum size of its previously announced private placement of common shares in the capital of the corporation at a price of $1 per common share from $8-million to $8.4-million.

As previously announced on Jan. 7, 2025, Big Rock entered into a binding debt settlement agreement with VN Capital Fund I LP, the corporation's lender under its second lien term facility, in respect of the settlement of all indebtedness and liabilities owing by the corporation to VN Capital.

The net proceeds of the private placement, after payment of expenses and approximately $2.3-million pursuant to the debt settlement, will be used to repay $700,000 of indebtedness under the corporation's credit agreement with its senior lender, ATB Financial, for investment in capital projects and for working capital purposes.

Closing of the private placement and the debt settlement remain, as previously announced, subject to customary conditions precedent and the approval of the Toronto Stock Exchange. The private placement and the debt settlement are expected to close on Jan. 20, 2025.

The number of common shares issuable to insiders under the debt settlement and private placement will not change as a result of the private placement increase.

About Big Rock Brewery Inc.

In 1985, Ed McNally founded Big Rock to contest the time's beer trends. Three bold, European-inspired offerings -- bitter, porter and traditional ale -- forged an industry at a time heavy on easy-drinking lagers and light on flavour. Today, the company's extensive portfolio of signature beers, continuing seasonal offerings, six ciders (Rock Creek Cider series), custom-crafted private label products and other notable, licensed alcoholic beverages keeps Big Rock at the forefront of the craft beer revolution and still proudly contesting the beer and alcoholic beverage trends of today. Big Rock has brewing operations in Calgary, Alta., and Toronto, Ont. Big Rock trades on the TSX under the symbol BR.

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