Mr. Ryan Hardy reports

PERK LABS INC. ANNOUNCES FAILURE TO FILE CEASE TRADE ORDER AND PROVIDES A CORPORATE UPDATE

On July 5, 2024, Perk Labs Inc.'s principal regulator, the B.C. Securities Commission, issued a failure-to-file cease trade order in accordance with Multilateral Instrument 11-103 (Failure-to-File Cease Trade Orders in Multiple Jurisdictions). The Canadian Securities Exchange has suspended trading in the company's securities as a result of the FFCTO.

The FFCTO was issued as a result of the company's delay in filing its audited annual financial statements and accompanying management's discussion and analysis for the fiscal year ended Nov. 30, 2023, which were due on April 1, 2024, in accordance with Canadian securities laws.

Despite the FFCTO, a beneficial holder of a security of the company who is not, and was not as of the date of the CTO, an insider or control person of the company may sell securities of the company acquired before the date of the FFCTO if: (a) the sale is made through a foreign organized regulated market, as defined in Section 1.1 of the Universal Market Integrity Rules of the Investment Industry Regulatory Organization of Canada; and (b) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation. Holders of the company's securities are urged to consult with their own investment advisers or legal counsel about the implications of the FFCTO.

As previously disclosed, the annual filings delay is a result of complexities arising from the company's merger in 2023, as well as delays due to resources and timing, which led to a late start by the company's new auditor. The company regrets this delay in filing and the inconvenience to shareholders. The audit is well under way, and the annual filings and subsequent quarterly filings will be filed as soon as possible. The FFCTO will remain in place until such time as the annual filings and all continuous disclosure requirements have been filed and the company receives an order from the BCSC revoking the FFCTO. The company will make further announcements with respect to the status of the annual filings and the FFCTO as and when appropriate.

Corporate update

The company continues to operate normally and does not expect any interruption to its operations during the FFCTO.

"We are expanding our services to meet the continuing demand for our products and to provide solutions for existing and future clients. We have an ambitious vision, and we look forward to resolving our regulatory delays and moving forward with our growth strategy," said Ryan Hardy, chief executive officer of Perk Labs.

About Perk Labs Inc.

Perk Labs, the owner of Getit Technologies Inc. and Perk Hero Software Inc., provides innovative mobile ordering and payment systems, allowing customers the ability to scan a QR code or NFC sticker to order and pay for their purchases directly from their phone. Perk Labs specializes in providing a single unified payment interface for complex purchase environments -- environments that have multiple retailers processing an array of different transactions, including food and beverage purchases, merchandise sales, ticketing, registrations, donations, parking fees, and service payments. Perk Labs provides a custom-branded solution that is ideal for multitransaction brands such as stadiums and arenas, university and college campuses, conference centres, hotels and resorts, festivals and events, and professional service companies.

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