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VANCOUVER, BC / ACCESSWIRE / March 14, 2022 / ECC Ventures 3 Corp. ("ECC3" or the "Company") (TSXV:ECCT.P) is pleased to announce that it has received conditional acceptance from the TSX Venture Exchange (the "Exchange") to close its previously announced acquisition of Sparx Technology Inc. ("Sparx") by way of a three-cornered amalgamation among the Company, Sparx and a wholly-owned subsidiary of the Company (the "Transaction"), as more particularly described in the Company's news releases dated August 3, 2021 and December 3, 2021. The Transaction will constitute the Company's qualifying transaction pursuant to the policies of the Exchange.

ECC3 and Sparx anticipate closing the Transaction on or about March 23, 2022. Prior to the completion of the Transaction, the outstanding common shares of ECC3 will be forward split on the basis of one pre-split common shares for one and one-fifth post-split common share (each, a "Resulting Issuer Share"), and ECC3 will change its name to "Sparx Technology Inc." (the "Resulting Issuer").

In connection with the Transaction, the Company has filed on SEDAR its filing statement dated March 11, 2022 (the "Filing Statement"). Investors are encouraged to review the Filing Statement at www.sedar.com, which provides detailed information about the Transaction, the Resulting Issuer, the Company, and Sparx.

For more information, please contact the Company at 778-331-8505 or email: sackerman@emprisecapital.com

On Behalf of the Board of Directors of ECC Ventures 3 Corp.

Scott Ackerman
Director

Completion of the Transaction is subject to a number of conditions, including, among others, Exchange acceptance and if applicable pursuant to TSXV Requirements, majority of the minority shareholder approval. Where applicable, the Transaction cannot close until the required approvals are obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the filing statement prepared in connection with the Transaction, any information release or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of ECC3 should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this press release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Statements included in this news release, including statements concerning ECC3 and Sparx's plans, intentions, and expectations, which are not historical in nature, are intended to be, and are hereby identified as, "forward‐looking statements". Forward-looking statements include, among other matters, the terms and timing of the Transaction. Forward‐looking statements may be, but are not always, identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward‐looking statements, including without limitation those relating to the Company and Sparx's future operations and business prospects, are subject to certain risks and uncertainties (including risks that the Transaction does not proceed, or proceed on the expected terms, geopolitical risk, regulatory, Covid-19 and exchange rate risk) that could cause actual results to differ materially from those indicated in the forward‐looking statements. There can be no assurance that any forward-looking statement will prove to be accurate or that management's assumptions underlying such statements, including assumptions concerning the Transaction or future developments, circumstances or results will materialize. The forward-looking statements included in this news Transaction are made as of the date of this news release and the Company does not undertake to update or revise any forward-looking information included herein, except in accordance with applicable securities laws.

ECC VENTURES 3 CORP.
Suite 1600, 609 Granville Street
Vancouver, BC V7Y 1C3
Telephone: 1-778-331-8505

SOURCE: ECC Ventures 3 Corp.