Mr. Praveen Gupta reports

CLIFFSIDE CAPITAL LTD. PROVIDES UPDATE ON WARRANT EXTENSION APPLICATION

Cliffside Capital Ltd. has been informed by the TSX Venture Exchange that the company's request for an extension to the exercise period of a total of 2,197,000 common share purchase warrants of the company from their current expiry date of March 26, 2022, to June 14, 2022, has not been accepted by the exchange. The warrants were issued to certain standby guarantors of the company in connection with the company's rights offering that closed on March 27, 2019. As a result, the warrants have now expired in accordance with their original terms.

The company initially submitted its request to the exchange for the warrant extension on March 22, 2022. The application was made in order to maintain the warrants as a potential source of financing for the company by allowing certain insiders of the company holding warrants with an additional opportunity to exercise the warrants following the termination of the company's current blackout period. Insiders are prohibited from trading in securities of the company during a blackout period pursuant to the terms of the company's insider trading policy.

About Cliffside Capital Ltd.

Cliffside is focused on investing in strategic partnerships with parties which have specialized expertise and a proven record in originating and servicing loans and similar types of financial assets. Cliffside's strategy is to generate revenue as an investor, affording its shareholders an opportunity to invest in the growing alternative lending sector with the potential for attractive yields and minimal operational risk while earning a reliable total return.

We seek Safe Harbor.