Mr. Andy Duncan reports

BOARDWALKTECH ANNOUNCES CLOSING OF FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Boardwalktech Software Corp. has closed a first tranche of its non-brokered private placement consisting of 10,994,285 units at a subscription price of 3.5 cents per unit, for gross proceeds of approximately $384,800 raised in the first tranche. Each unit consists of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at an exercise price of five cents, for a period of two years from the date of issuance.

Certain finders received 8-per-cent cash and 8-per-cent non-transferable finders' warrants exercisable for common shares of the company at five cents per share for two years, for an aggregate of 302,400 finders' warrants and $15,384 cash commissions paid in the first tranche.

Insiders of the company participated in the first tranche for an aggregate of three million units for a total of $105,000. Such participation will constitute a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions and the company will rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the securities purchased by insiders, nor the consideration for the securities paid by such insiders, will exceed 25 per cent of the issuer's market capitalization.

The company intends to use the net proceeds from the offering in connection with general corporate purposes. The company anticipates completing and closing the offering through one or more additional tranches within the coming weeks.

Completion of the offering is subject to the final approval of the TSX Venture Exchange. The units were issued pursuant to exemptions from the prospectus requirements in accordance with National Instrument 45-106 respecting Prospectus Exemptions. The securities issued pursuant to the offering are subject to a hold period of four months plus one day from the date of issuance.

About Boardwalktech Software Corp.

Boardwalktech has developed a patented digital ledger and AI (artificial intelligence) technology platform used by Fortune 500 companies to power mission-critical enterprise applications. The platform enables multiple parties to work simultaneously on the same data while preserving full data integrity, provenance and auditability. Boardwalktech delivers purpose-built enterprise applications with deep integration into systems of record, significantly faster than traditional software platforms. The company is headquartered in Cupertino, Calif., with offices in India and operations across North America.

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