Mr. Steve Taylor reports

BLUERUSH PLEASED TO ANNOUNCE SIGNING OF MASTER SERVICES AGREEMENTS WITH TWO GLOBAL INSURANCE COMPANIES

Bluerush Inc. has signed master service agreements (MSA) with two global insurance companies after successful pilot projects.

"The insurance vertical continues to be a growth area for Bluerush and our IndiVideo platform. We are pleased to be adding new customers in this vertical and have proven that we can grow these relationships significantly beyond the initial subscription value," said Steve Taylor, chief executive officer of Bluerush.

The combined value of these initial subscription contracts is $75,000. The average growth rate of Bluerush's top enterprise accounts in the financial service vertical is approximately 700 per cent from the opening annual recurring revenue value to current ARR achieved in an average of 3.2 years.

"While past and average results are not necessarily indicative of future results, our customer success and service delivery teams do an excellent job working with our customers to ensure that their business objectives are met and exceeded, which lays the foundation for this kind of growth in key accounts," continued Mr. Taylor. "We recently reported that one of our insurance customers has achieved a 500-per-cent sales lift year over year after introducing IndiVideo to help upsell term life clients to a whole life product. This type of result is what continues to drive our success and is testimony to the power of IndiVideo."

To maintain an effective incentive equity program focused on retention and attraction, the board of directors of Bluerush has approved amending the exercise price of existing stock options held by certain employees and consultants of the company, exercisable for up to an aggregate of 825,000 common shares of the company, to eight cents. The existing options were originally issued between June, 2019, and May, 2022, have exercise prices ranging from 25 cents to 80 cents, and expire between June, 2024, and May, 2027. None of the existing options are held by insiders (as such term is defined by the TSX Venture Exchange). The amendments remain subject to exchange approval pursuant to exchange Policy 4.4.

In addition, the board of directors of the company has granted stock options to officers, directors and employees of the company exercisable for up to an aggregate of 2,695,000 common shares of the company at eight cents per share for five years. All options will vest over three years with the initial vesting after 12 months. Options granted to officers and directors are subject to an exchange four-month hold.

About Bluerush Inc.

Bluerush develops and markets IndiVideo, a disruptive, award-winning interactive personalized video platform that drives return on investment throughout the customer life cycle from increased conversions to more engaging statements and customer care. IndiVideo enables Bluerush clients to capture knowledge and data from their customers' video interaction, creating new and compelling data-driven customer insights.