Mr. Ralph Garcea reports

TURNIUM TECHNOLOGY GROUP, INC. ANNOUNCES CLOSING OF BROKERED AND NON-BROKERED LIFE OFFERING FOR GROSS PROCEEDS OF C$3 MILLION

Turnium Technology Group Inc., further to its news releases dated July 13, 2023, July 24, 2023, and July 31, 2023, has closed a brokered and non-brokered private placement offering of 30.21 million units of the company at a price of 10 cents per unit for gross proceeds of $3,021,000. The offering was completed pursuant to the listed issuer financing exemption (as defined herein).

Each unit is composed of one common share of the company and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional common share at a price of 14 cents per share, subject to adjustment in certain events, until Aug. 3, 2026.

The brokered portion of the offering was led by Canaccord Genuity Corp., as lead agent and sole book runner. As consideration for its services in connection with the offering, the company paid Canaccord a cash commission of $46,500, issued 539,450 units and issued an aggregate of 1,004,450 non-transferrable broker warrants of the company, exercisable at any time prior to Aug. 3, 2026, with each such broker warrant entitling the holder thereof to purchase one unit at an exercise price equal to the issue price, subject to adjustment in certain events.

The offering was made pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 -- Prospectus Exemptions. The units, which were all issued under the listed issuer financing exemption, will not be subject to a hold period, in accordance with applicable Canadian securities laws.

The company intends to use the net proceeds of the offering for the repayment of debt in the aggregate amount of approximately $2.01-million, and to provide general working capital to support operations.

The company may issue additional units under the offering, pursuant to the listed issuer financing exemption, for additional proceeds of up to $479,000. The company has filed an offering document related to the offering that can be accessed under the company's profile at SEDAR and on the company's website. Prospective investors should read this offering document before making an investment decision.

About Turnium Technology Group Inc.

Turnium Technology Group delivers its SD-WAN (software-defined wide area network) solution as a white label, containerized, disaggregated software platform that channel partners host, manage, brand and price, and as a managed cloud-native service provided by Turnium. Both Turnium SD-WAN offers are available trough a channel partner program designed for communications service providers, Internet and managed service providers, system integrators, and value-added resellers.

We seek Safe Harbor.