Mr. Mike Marrandino reports

MUST CAPITAL ANNOUNCES SHARES FOR DEBT SETTLEMENT

Must Capital Inc. has agreed with certain creditors to settle an aggregate of $128,916.40 in liabilities through the issue of up to 2,578,328 common shares at a deemed price of five cents per share.

To the extent that insider participation in the debt settlement is a related party transaction within the meaning of Multilateral Instrument 61-101, the company is relying upon the exemptions from the formal valuation and minority shareholder approval requirements contained in sections 5.5(b) and (g) and sections 5.7(e), respectively, of MI 61-101.

The debt settlement remain subject to the receipt of the TSX Venture Exchange approvals, as the case may be. All securities issued in connection with the debt settlement will be subject to a statutory hold period expiring four months and one day after the date of issuance.

We seek Safe Harbor.