Mr. Ryan Hardy reports

PERK LABS ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENTS AND DEBT CONVERSION

Perk Labs Inc. has closed a non-brokered private placement of units and convertible debentures.

Private placement of units

The company closed a non-brokered private placement of 1,312,500 units at a price of 1.6 cents per unit for gross proceeds of $21,000. Each unit consists of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at a price of five cents per common share for a period of 24 months from the closing.

Additionally, the company announced that in connection with the private placement, it entered into a debt settlement agreement with an arm's-length creditor for the settlement of a total of $20,000 debt in consulting and design services provided by the creditor to the company. In settlement and full satisfaction of the debt, the company issued 1.25 million units to the creditor.

Private placement of convertible debentures

Perk Labs also announced that it closed a non-brokered private placement of convertible debentures for gross proceeds of $450,000. The debentures mature one year from the date of issuance and bear interest at a rate of 15 per cent per annum. The debentures are convertible into common shares at a conversion price of five cents per common share, subject to the terms and conditions set forth in the specific debenture agreement.

All securities issued pursuant to the private placements are subject to a statutory hold period of four months and one day following the closing. The net proceeds from the private placements will be used for general working capital purposes, accounts payable and employee salaries.

In connection with the private placements, B. Rogic, a related party of the company (as defined in Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions)), acquired $178,00 principal amount of debentures. The acquisition of debentures by Mr. Rogic constituted a related-party transaction within the meaning of NI 61-101. The company relied on an exemption from the formal valuation requirements of MI 61-101 as no securities of the company are listed or quoted on specified markets and because of an exemption from the minority approval requirements of MI 61-101, as the fair market value of the participation in the private placement by Mr. Rogic did not exceed 25 per cent of the company's market capitalization.

About Perk Labs Inc.

Perk Labs, the owner of Getit Technologies Inc. and Perk Hero Software Inc., specializes in apps, payments and loyalty rewards. Its technologies connect businesses and consumers through mobile apps and Web-based payment services that streamline and optimize the consumer experience and merchant digitalization.

We seek Safe Harbor.