Mr. Michael Rodyniuk reports

FLUROTECH ANNOUNCES DEBT SETTLEMENT AGREEMENT

Flurotech Ltd. has entered into a debt settlement agreement as of April 30, 2024, with an arm's-length creditor to settle an outstanding debt in the amount of $136,986. The debt comprises the outstanding balance owed by the company to the creditor.

Pursuant to the debt settlement agreement, the creditor has agreed to subscribe for common shares in the capital of the company under which the total aggregate amount of the debt will be satisfied in full and final settlement of the company through the issuance and delivery of 1,826,480 fully paid common shares in the capital of the company with an assigned issue price of 7.5 cents per common share. The debt shares are being issued at a price equal to the price per share issued under the company's recent bridge financing which was disclosed in a news release dated April 26, 2024, in accordance with the policies of the TSX Venture Exchange.

No new control person of the company will be created pursuant to the shares for debt transaction.

The company is proposing to issue the common shares pursuant to the shares for debt transaction to preserve cash to finance the company's proposed change of business transaction as such term is defined in TSX-V Policy 5.2 -- Changes of Business and Reverse Takeovers and as is further described in the company's press releases dated April 19, 2024, and April 26, 2024. The common shares issued pursuant to the shares for debt transaction will be issued pursuant to a prospectus exemption and will be subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.

Final approval of the shares for debt transactions remains subject to approval of the TSX-V.

Trading halt

In accordance with Policy 5.2, the common shares are currently halted from trading and are expected to remain halted pending the requirements of Section 2.5 of Policy 5.2 being met.

About Flurotech Ltd.

Flurotech was incorporated under the Business Corporations Act (Alberta) on May 24, 2018. Flurotech is currently inactive with limited operations and the common shares of Flurotech are currently halted on the NEX. Flurotech has no commercial operations and no assets other than cash and is a reporting issuer in the provinces of Alberta and British Columbia.

We seek Safe Harbor.