Mr. Stephen Davis reports

FREQUENCY EXCHANGE CLOSES FINAL TRANCHE OF PRIVATE PLACEMENT

Further to its news releases dated April 17, 2024, April 30, 2024, and July 31, 2024, Frequency Exchange Corp. has closed the third and final tranche of its private placement.

In connection with the closing of the final tranche, the company issued an additional 1,866,667 units at a price of 15 cents per unit for proceeds of $280,000.05, bringing the total private placement to 5,087,178 units for aggregated proceeds of $763,076.70 when combined with the two previous closings subject to final approval from the TSX Venture Exchange.

Each unit consisted of one common share and one common share purchase warrant having an exercise price of 25 cents per warrant and a term of 24 month from the date of issuance. The warrants are subject to an acceleration clause, whereby if the volume-weighted average trading price of the common shares on the TSX Venture Exchange is at least 40 cents per common share for any period of 10 consecutive trading days, the company may, at its sole option, accelerate the expiry date of warrants to the date that is not less than 21 days following the date upon which notice of the accelerated expiry date is provided by the company by way of news release.

The company intends to use the proceeds from the private placement for general corporate, working capital purposes, paying down liabilities and for marketing initiatives.

In connection with the closing of the final tranche, the company issued 60,000 finder's warrants having the same terms as the warrants and paid a cash commission of $9,000 to Canaccord Genuity Corp.

All securities issued in connection with the third tranche of the private placement are subject to a statutory hold period expiring Jan. 19, 2025.

About Frequency Exchange Corp.

Based in British Columbia, Canada, Frequency Exchange is focused on the development and global commercialization of a wearable frequency delivery system. Its specialized frequency sets are designed to enhance wellness and improve performance. The brand Nikki is the third generation of wearable technology created by the company.

We seek Safe Harbor.