Mr. Ryan Hamlin reports

CHRIS BAKER NAMED CHIEF STRATEGIC OFFICER AT POSABIT, LEADING CANNABIS FINTECH

Posabit Systems Corp. has named Chris Baker to the company's newly created chief strategic officer role.

"Chris's extensive experience leading strategic initiatives and teams is a great fit. We could not be more excited to welcome him to the Posabit team," said Ryan Hamlin, chief executive officer/co-founder of the company. "I have no doubt Chris will provide tremendous strategic support and insight as our organization continues to expand."

"Posabit is an amazing opportunity," commented Mr. Baker. "The company's year-over-year growth has been incredible, and I am impressed by the strong market fit of their products. I am thrilled to join the team and continue to expand the company's footprint throughout North America."

Mr. Baker is passionate about the power of technology, and boasts over 20 years of leadership in the industry. In previous roles, he has led award-winning, multidisciplinary teams spanning four continents for global enterprise clients. In his role as chief strategy officer of the company, he will lead strategy with the Posabit team, partnering across the business to keep the company ahead in a fast-changing business environment. His career started at IBM Global Services, where he focused on delivering projects and programs across the technology service delivery stack. Most recently, he served as vice-president of technology and innovation at Genius Avenue, an insuretech/fintech start-up.

In connection with his appointment, the company has granted one million stock options to Mr. Baker pursuant to the terms of the company's stock option plan. The options are exercisable into common shares of the company at an exercise price of $1.10 per share over the next 10 years, with vesting over four years, all in accordance with the plan and the policies of the Canadian Securities Exchange.

About Posabit Systems Corp.

Posabit is a fintech, working exclusively within the cannabis industry. The company provides a best-in-class point-of-sale solution and is the leading cashless payment provider for cannabis retailers. The company works tirelessly to build better financial services and transaction methods for merchants. The company brings cutting-edge software and technology to the cannabis industry so that all merchants can have a safe and compliant set of services to solve the problems of a cash-only industry.

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