Mr. David Preiner reports

MEDIVOLVE ANNOUNCES CAN $1.2 MILLION CONVERTIBLE NOTE FINANCING

Medivolve Inc. has arranged a secured convertible note financing in the amount of $1.2-million, which includes a $200,000 original issue discount (OID).

$1.2-million secured convertible note

This investment will be in the form of a secured convertible note with a face value of $1.4-million for aggregate gross proceeds to the company of $1.2-million after deduction of the OID. Cumulative interest on the outstanding principal amount shall be payable at the annual rate of 8.0 per cent per annum. The note is expected to mature on Dec. 31, 2023, and will be convertible, at the option of the holder after four months and one day following issuance and subject to certain conditions, into units at a price of 40 cents per unit. All amounts outstanding under the note are expected to be secured by a first-ranking security interest over all of the company's present and after acquired personal property. Closing of the note financing is conditional upon receipt of NEO approval and the completion of due diligence and definitive legal documentation, and is anticipated to close on or about Dec. 30, 2022. No finders' fees are expected to be paid in connection with the offering.

Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share of the company at a price of 50 cents for a period of five years following the closing date of the offering. Proceeds of the offering will be used to repay existing debt and for general working capital purposes.

About Medivolve Inc.

Medivolve (NEO: MEDV, OTC: MEDVD and Frankfurt Stock Exchange: 4NC) is a health care technology company that seeks to reinvent the U.S. health care system by leveraging a bespoke telehealth platform, a clinical diagnostic network and a data-driven artificial intelligence framework to improve patient care.

The company was born out of the health care crisis: to rethink, relearn and ultimately reimagine a better way for the health care system to operate. Its network of retail collection sites play an important role in recovery by giving Americans access to fast, accurate and inexpensive clinical services when and where they need it. These centres will also play a pivotal role in diagnostic testing, vaccinations and other point-of-care services. The company is building disruptive technologies to make it easier and faster to identify, treat and prevent medical issues. In doing so, it is working to give patients a holistic and empowered view of their personal health.

Its long-term mission is to address systemic issues in the nation's fragmented, overly complex and expensive health care system. Medivolve's next phase of growth is about pivoting the model and putting the pieces together to build a profitable health technology company. The company is developing a singular, streamlined technology network to provide data-driven physician consultations, clinical diagnostics and prescription services. Its team is united by a powerful, singular purpose: harnessing the transformative power of technology to create healthier lives.

Underpinned by a bespoke, artificial-intelligence-driven platform, it is developing a system that constantly gets smarter, takes the guesswork out of diagnostics and flags critical health issues to help physicians, delivering a high level of personalization for each patient.

We seek Safe Harbor.