Raffles Financial Appoints Mike Zhou as Executive Director

Mr. Zhou's expertise, developed over the course of a decade, covers capital markets and international business strategy with a special focus on the technology sector. In recent years, he has held management positions and director roles throughout the FinTech, digital marketing, consulting, and financial sectors.

From 2013 to 2015, Mr. Zhou served as Manager of Corporate Development for BiYond (China) Corp. Under his management, the firm successfully launched a multi-million-dollar FinTech Joint Venture and structured the merger & acquisition of a digital marketing corporation. In late 2015, Mr. Zhou also co-founded a private investment and consulting firm.

"Mike's industry background and in-depth knowledge of the FinTech sector paired with deep understanding of the Canadian capital markets landscape is a valuable asset for Raffles as we move towards our goal of becoming a global diversified financial services firm. We are pleased to have him on our Board and are excited to see the North American chapter of Raffles' story develop further," said Dr. Charlie In, Chairman of Raffles.

About Raffles Financial Group Limited (CSE: RICH) (FSE: 4VO) (OTC: RAFFF)

Raffles Financial Pte Ltd (a wholly owned subsidiary of Raffles Financial Group Limited) is an exempt corporate finance advisory firm, registered with the Monetary Authority of Singapore, which provides public listing advisory and arrangement services. Raffles Financial serves as advisor for family trusts, family offices and investment funds. Please visit www.rafflesfinancial.co for more information.

For more information, please contact:Cathy Hume, Investor RelationsPhone: 416-868-1079 x 231Email: cathy@chfir.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in Canadian securities laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events.

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