File: '\\swfile\EmailIn\20240315 155453 Attachment Zoglo's - Private Placement Closing News Release ($0.055 Units).docx'

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ZOGLO'S CLOSES PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT OF UNITS

Vancouver, BC - March 15, 2024: Zoglo's Food Corp. (CSE: ZOG) (FSE: KX9) ("Zoglo's" or the "Company"), is pleased to announce that the Company has closed the previously announced non-brokered private placement of units of the Company (the "Units") by the issuance of 12,726,749 Units at $0.055 per Unit for gross proceeds of $699,971.20 (the "Offering").

Each Unit consists of one common share (a "Common Share") of the Company and one whole Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $0.10 per common share for a period of 36 months from the closing date of the Offering.

The net proceeds of the Offering are expected to be used for general working capital purposes and to pay down the Company's outstanding payables. The securities issued under the Offering will be subject to a statutory hold period in Canada expiring four months and one day from the closing of the Offering. No Finder's fees are payable in connection with the closing of the Offering.

All references to currency in this news release are to Canadian currency. The Company has obtained securityholder approval for the Offering, by consent resolution, in accordance with section 4.6(2) of CSE Policy 4 - Corporate Governance, Security Holder Approvals and Miscellaneous Provisions.

The securities issued pursuant to the Offering have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

About Zoglo's Food Corp.

Zoglo's Food Corp. is a publicly-traded company listed on the Canadian Securities Exchange under the ticker: ZOG and the Frankfurt Stock Exchange under the ticker: KX9.

ON BEHALF OF THE BOARD OF DIRECTORS

Hari Varshney

Chief Financial Officer and Director

E: hari@varshneycapital.com

T: (604) 684-2181

Neither the CSE nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release

Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.