Mr. Brooks Bergreen reports

HIT TECHNOLOGIES COMPLETES DEBT FINANCING

Hit Technologies Inc., further to its news release of April 4, 2017, has closed its non-brokered private placement of $330,000 in principal amount of secured convertible debt securities.

The convertible debts have a two-year term ending April 19, 2019, and bear interest at a rate of 10 per cent per year. The convertible debts are convertible into common shares of the company at five cents per share until April 19, 2018, and at 10 cents per share until April 19, 2019. The company plans to use the proceeds from the financing to finance continuing operations and for general working capital purposes. All securities issued in connection with the convertible debts are subject to a four-month statutory hold period ending on Aug. 20, 2017.

The company further reports, on behalf of Ian Wilkinson, that Mr. Wilkinson acquired control or direction over, but does not have beneficial ownership of, a convertible debt in the principal amount of $220,000 subscribed for by Portfolio Holdings Inc. Mr. Wilkinson's deemed holding (ownership and/or control) of shares would increase by 5.1 per cent assuming the conversion of Portfolio's convertible debt at five cents.

Immediately before the acquisition, Mr. Wilkinson held 8,999,999 shares (held through Nicola Holdings Ltd.) and 75,000 stock options, or 12.8 per cent of the issued shares assuming the exercise of the stock options. Immediately after the transaction, Mr. Wilkinson would hold 13,474,999 shares or 17.9 per cent of the issued shares assuming the exercise of the stock options and conversion of Portfolio's convertible debt at five cents.

Portfolio provided consideration of $220,000 in cash. Mr. Wilkinson acquired the securities for investment purposes. In the future, he may acquire additional securities of the company or dispose such securities through the market or otherwise subject to a number of factors, including, but not limited to, general market and economic conditions, alternative investment and business opportunities, portfolio and liquidity considerations, and other circumstances. A copy of the early warning report filed by Mr. Wilkinson in respect of the above transaction may be obtained on the company's SEDAR profile or by contacting Michael Liggett at 1-888-423-4124, extension 520.

We seek Safe Harbor.