Toronto, Ontario--(Newsfile Corp. - January 8, 2021) - Crosswinds Holdings Inc. (TSX: CWI) (OTC Pink: CRSWF) ("Crosswinds" or the "Company") announces the reconstitution of management and the board of directors of the Company. Effective immediately, Mr. J. Roy Pottle has resigned as Interim Chief Executive Officer of the Company and Mr. Salman Iqbal has resigned as Interim Chief Financial Officer of the Company. Also effective immediately, Messrs. Thomas Cholnoky, Brad Gold, J. Roy Pottle and Robert Wolf have resigned as directors of the Company.

The Company is pleased to announce the appointment of Mr. Trumbull Fisher as Chief Executive Officer of the Company and Mr. Arvin Ramos as Chief Financial Officer of the Company. The board of directors of the Company was reconstituted to consist of Mr. Daniel Nauth, Mr. Trumbull Fisher and Ms. Jessica Whitton.

A brief biography of each of the members of the newly appointed board of directors and management team of the Company are as follows:

Trumbull Fisher, Chief Executive Officer & Director

Mr. Fisher has approximately 15 years of capital markets expertise in various capacities. In the past, he served as a co‐founder of Casimir Capital's, a former IIROC dealers', Canadian Sales and Trading operation. Upon leaving Casimir, he cofounded Sui Generis, an offshore hedge fund that was eventually sold to a Canadian asset manager, where he acted as head of trading. Trumbull previously served as President of New Wave Holdings Corp. (previously New Wave Esports Corp.), an Esports investment company. Trumbull has extensive experience in raising capital, advising businesses and managing successful teams in the capital markets industry. Mr. Fisher currently serves as a director of Cyon Exploration Ltd., Holly Street Capital Ltd. and Mansa Exploration Inc.

Arvin Ramos, Chief Financial Officer

Mr. Ramos holds a degree in commerce and is a member of the Chartered Professional Accountants of Ontario. Mr. Ramos has over 17 years of business experience, having supported a broad range of industries, including mining, technology and banking. Mr. Ramos serves as chief financial officer of several junior mining companies.

Daniel Nauth, Director

Mr. Daniel Nauth practices U.S. securities and corporate law and advises both public and private issuers on U.S.-Canada cross border capital markets, M&A and corporate/securities transactions and regulatory compliance. Mr. Nauth holds a J.D. from Queen's University and a Bachelor of Arts (Hons.) from York University. Mr. Nauth is a licensed Foreign Legal Consultant in the Province of Ontario. Mr. Nauth has extensive advisory experience in a range of industries, including mining and oil/gas, emerging biopharmaceutical and medical devices, medicinal cannabis, cryptocurrencies and blockchain technology. Mr. Nauth currently serves as a director of Bhang Inc., QcX Gold Corp., SBD Capital Corp. and Interactive Capital Partners Corporation.

Jessica Whitton, Director

Ms. Whitton practices general corporate and securities law for both public and private issuers and advises on a variety of transactions including private placements, public offerings, M&A and continuous disclosure obligations. Ms. Whitton holds a Bachelor of Laws from the University of Southampton, a Certificate of Qualification from the Federation of Law Societies and a Bachelor of Arts (Honours) from Queen's University. Ms. Whitton currently serves as Corporate Secretary of QcX Gold Corp., Corporate Secretary of Mindset Pharma Inc., Corporate Secretary of Generic Gold Corp. and Corporate Secretary of Ophir Gold Corp.

On behalf of the Board of Directors

"Trumbull Fisher"
Crosswinds Holdings Inc.

For further information, please contact:
Trumbull Fisher, CEO & Director

Caution Regarding Forward-Looking Information

This news release includes certain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "should", "plans" or "continue" or the negative thereof or variations thereon or similar terminology. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These forward-looking statements are subject to a number of risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements. Reference should be made to the risk factors in the Company's most recent Annual Information Form, in the Management's Discussion and Analysis and in our other filings with Canadian securities regulators. Additional important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, tax related matters, the ability of the Company to execute its strategies from time to time, the ability to make distributions to shareholders, and the receipt of any regulatory approvals or consents required from time to time.

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