Mr. Jonathan Hoyles reports

PERK LABS ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT

Perk Labs Inc. has closed the first tranche of the previously announced non-brokered private placement of the company.

In the first tranche, subscribers purchased 7,374,645 units for aggregate gross proceeds of $309,736. Directors and officers of the company subscribed for 476,190 of the units. Each unit comprises one common share and one warrant. Each whole warrant will entitle the holder thereof to purchase one common share at a price of five cents for a period of 24 months from the closing of the first tranche.

All securities issued pursuant to the private placement will be subject to a statutory hold period of four months and one day. The company intends to complete additional closings until the earlier of the private placement being fully subscribed and April 8, 2022. It is expected that there will be additional participation from the company's board of directors in a subsequent tranche.

Proceeds from the first tranche will be used for marketing and awareness campaigns and for general working capital purposes.

About Perk Labs Inc.

Perk Labs is the owner of Perk Hero, the mobile commerce platform on a mission to empower business owners with the digital tools to provide their customers with dining experiences that are more engaging, convenient and rewarding. Perk Hero is growing through a unique community-driven digital franchise business that is available to entrepreneurs at an attractive start-up price.

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