December 9, 2016

TORONTO, ONTARIO – Fountain Asset Corp. (“Fountain Asset”) (TSX Venture Exchange “FA”) announces changes to its management team.

Fountain Asset announces the appointment of Mr. David Darakjian as interim Chief Financial Officer (CFO) of the Company as of December 9, 2016, Mr. Darakjian has over 20 years of experience in senior management roles across diverse industries. He has been with Fountain since 2014 as the corporate controller.

Mr. Darakjian replaces Mr. Steven Haasz, who has held the position of Chief Financial Officer since July, 2014, but is currently dedicating all his time and efforts as CEO and President of Xylitol Canada Inc., which is one of Fountain Asset’s strategic holdings. In April 2016 Mr. Haasz was appointed CEO and President of Xylitol Canada Inc. with the task of recapitalizing and revitalizing the well-positioned natural sweetener CPG company to take advantage of current industry trends, and recently announced a $3MM private placement.

About Fountain Asset Corp.

Fountain Asset Corp. is a merchant bank which provides equity financing, bridge loan services (asset back/collateralized financing) and strategic financial consulting services to companies across many industries such as oil & gas, mining, real estate, manufacturing, retail, financial services, technology and biotechnology. For further information, please contact Jason G. Ewart at (416) 488-7760 or visit Fountain Asset Corp.’s website at .

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.