Mr. James Carbonara reports

POSABIT EXPECTS FY 2023 REVENUE OF $60 TO $63 MILLION, GROSS PROFIT OF $15 TO $17 MILLION AND TO RESUME PROFITABILITY ON AN ADJUSTED EBITDA BASIS

Posabit Systems Corp. has provided financial guidance for 2023.

2023 Financial Guidance

The Company provides the following guidance for the full year 2023.

"Our business continues to grow at a high rate, significantly outpacing the growth rate of the cannabis market as a whole," said Ryan Hamlin, CEO and Co-founder of POSaBIT. "2023 is off to a great start; our teams are highly engaged with merchants to optimize and fully integrate both our point-of-sale and payments platforms to increase same-store sales and improve efficiencies for the merchants and the customers they serve. We also look forward to closing our recently announced acquisition in the second quarter of 2023."

The Company expects to report financial results for the three and 12 months ended December 31, 2022 and host a conference call to discuss the results and FY 2023 Guidance on April 26, 2023.

About POSaBIT

POSaBIT (CSE: PBIT, OTC: POSAF) is a FinTech, working exclusively within the cannabis industry. We provide a best-in-class Point-of-Sale solution and are the leading cashless payment provider for cannabis retailers. We work tirelessly to build better financial services and transaction methods for merchants. We bring 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. For additional information, visit www.posabit.com.

We seek Safe Harbor.