Mr. John Ricci reports

DANAVATION(R) ANNOUNCES INITIAL INSTALLATION INTO ONE OF OVER 40 ACE HARDWARE LOCATIONS OPERATED BY A SINGLE BRAND AND SIX ADDITIONAL INSTALLATIONS FOR MEXICO'S IMPULSORA

Danavation Technologies Corp. has expanded its continuing ACE Hardware relationship, and will complete an additional six new small-format installations for Mexico-based Impulsora, over and above the 12 previously announced.

"Our strategic efforts to expand into the U.S. continue to prove effective as we have secured our first Digital Smart Labels installation for another retail group under the ACE Hardware banner. In addition, based on the results of our ongoing 12-location installations for Impulsora in Mexico, they have contracted Danavation for an additional six smaller-format installations," said John Ricci, chief executive officer of Danavation. "The ongoing trust and confidence placed in Danavation by retailers under the ACE Hardware brand, as well as the demand coming from Impulsora, demonstrates the benefits realized by implementing our Digital Smart Labels solution and our ability to nurture strong business relationships."

Further expanding the ACE Hardware relationship

Danavation has been contracted for the installation of its Digital Smart Labels into the first of over 40 locations owned by an independent hardware store banner and operating under the ACE Hardware brand umbrella across the central United States. This first installation in Ohio is anticipated to be complete by Q1 2024 and, based on success, could be followed by additional installations across the more than 40 locations within the hardware group's portfolio of retail stores.

ACE Hardware is a community-minded organization with over 5,000 stores around the world, independently owned and operated by local ACE retail entrepreneurs. ACE stores come in all shapes and sizes based on the needs of each individual neighbourhood, from small, urban stores to large, rural stores and everything in between. Danavation is helping to automate in-store operations and drive improved margins with its Digital Smart Labels and platform-as-a-service (PaaS) solution, which are ideal for enhancing staff efficiency and reducing costs associated with inaccurate shelf pricing.

Additional six-store rollout for Impulsora

As previously announced in November of 2022, Danavation was contracted to complete a full rollout of Digital Smart Labels into the remaining 11 Impulsora locations after a successful initial installation. Based on continued success with the continuing installations, coupled with the value realized throughout its network of stores, an additional six locations will be outfitted with the company's Digital Smart Labels on a smaller-format basis commencing in early 2024.

Impulsora is Mexico's largest distributor of electrical and lighting equipment, offering products of low- and high-voltage electrical equipment and material from the most recognized brands in the electrical and hardware industry, such as 3M, Philips, WD-40 and Burndy. It has a large and fast-moving inventory with more than 100,000 square metres of warehouse space located throughout Mexico.

About Danavation Technologies Corp.

Danavation Technologies is the only North American-founded and headquartered technology company providing Digital Smart Labels and a software platform-as-a-service (PaaS) solution that enables companies across various sectors to automate labelling, price, product and promotions in real time. The company's Digital Smart Labels enhance data accuracy and improve performance by removing high labour costs and low productivity typically associated with traditional labour-intensive workflows. Danavation's goal is to create a sustainable and profitable business for shareholders while advancing sound environmental, social and governance practices, including by significantly reducing paper usage. Danavation has introduced its solution to retailers across North America, including big box and boutique grocers, while also targeting new markets, including health care providers, manufacturing and logistics companies.

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