Mr. Brian Roth reports

THREE SIXTY SOLAR ANNOUNCES CLOSING OF INITIAL TRANCHE OF NON-BROKERED PRIVATE PLACEMENTS

Three Sixty Solar Ltd. has closed an initial tranche of its previously announced non-brokered private placement, issuing 1,669,900 units of the company at a price of 60 cents per unit for aggregate gross proceeds of $1,001,940. The company has also closed an initial tranche of a concurrent non-brokered private placement, previously announced in its news release dated May 19, 2023, issuing 45,653 units at a price of 60 cents per unit for aggregate gross proceeds of $27,391.80.

Each unit is composed of one common share in the capital of the company and one share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional share at a price of 75 cents per share for a period of 24 months from the closing date of the offering.

In connection with the closing of the initial tranche of the offering, the company paid an aggregate cash commission of $22,667.40 and issued 37,450 non-transferable broker warrants to certain finders. Each broker warrant is exercisable for one share at the exercise price of 60 cents for a period of five years from date of issue, and is subject to a statutory hold period until Oct. 10, 2023.

The company intends to use the proceeds raised from the offering for the procurement of sale of a first commercial tower, vertical solar tower IP registration, research and development on a second generation tower, business development and marketing, and general corporate purposes.

Units sold under the life offering are being issued pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 (Prospectus Exemptions), and therefore, the securities issued in the life offering will not be subject to a hold period in accordance with applicable Canadian securities laws. Units sold under the concurrent offering are being issued pursuant to Section 3 of B.C. Instrument 72-503 and, along with the broker warrants, are subject to a statutory hold period until Oct. 10, 2023.

About Three Sixty Solar Ltd.

Three Sixty is an all-Canadian enterprise which focuses on solar equipment supply to the global market. The company's premier product line is the patent-pending SVS series commercial solar tower. According to Statistics MRC, the solar farm sector is set to grow to around $296-billion by 2028. Three Sixty's unique tower concept is a high-density clean energy solution that uses up-to-90-per-cent-less land space than conventional solar farms and can co-locate adjacent to homes, retail, agriculture and industry, thus minimizing line loss and maximizing energy delivery in places where renewables have been difficult to install until now. In multitower applications, developers can utilize the spaces between towers to better leverage land assets through additional revenue-generating activities. Designed to withstand major instances of extreme weather, Three Sixty offers a clean energy solution with minimal environmental and habitat impact.

We seek Safe Harbor.