Mr. Doug McFaul reports

ECC VENTURES 5 CORP. PROVIDES UPDATE TO PROPOSED QUALIFYING TRANSACTION TO ACQUIRE SHELFIE-TECH

ECC Ventures 5 Corp. has provided an update on the status of its proposed qualifying transaction, previously announced May 16, 2022, pursuant to which it will acquire all the issued and outstanding share capital of Shelfie-Tech Ltd.

The company continues to work with Shelfie on completing the financing that is being conducted in connection with the acquisition (the QT financing), and with the preparation of all documentation necessary to complete the requirements of the TSX Venture Exchange and the acquisition. This includes the preparation of the filing statement under the policies of the exchange for filing on the company's profile on the SEDAR website, which will contain fulsome disclosure in accordance with applicable securities law and the policies of the exchange regarding the acquisition, ECC5, Shelfie and the issuer resulting from the acquisition.

Shelfie is a private Israeli company focused on the development and commercialization of an artificial-intelligence-powered real-time shelf inventory analytics robotic platform. Shelfie's innovative solution consists of a digital image capturing system and a centralized management system that provides real-time visibility into the retail shelf supply, pinpointing the exact products running low on inventory, allowing for rapid remediation and an enhanced customer experience.

A copy of the definitive agreement among ECC5 and Shelfie is accessible under ECC5's profile on SEDAR.

Completion of the acquisition is subject to a number of conditions, including exchange acceptance and completion of the QT financing. Trading of ECC5's common shares will remain halted pending further filings with the exchange.

We seek Safe Harbor.