Mr. Vlado Hreljanovic reports

EASTOWER ANNOUNCES FFCTO, PARTIAL REVOCATION ORDER AND INITIAL DEBT FINANCING CLOSING

Eastower Wireless Inc. has raised $29,985 pursuant to the issuance of an unsecured non-convertible promissory note to an arm's-length lender. The financing was completed in accordance with a partial revocation order dated Aug. 25, 2023, issued under the securities legislation of British Columbia and Ontario whereby the company is permitted to complete a debt financing of $60,000 through the issuance of on-demand unsecured promissory notes accruing interest at 8.5 per cent per annum.

The purpose of the financing is to raise funds to prepare and file all outstanding financial statements and continuous disclosure records, pay for certain accounts payable and continuing general and administrative expenses, and obtain sufficient working capital to ensure the continuity of the company during the period that the failure-to-file cease trade order issued by the regulator or securities regulatory authority in each of British Columbia and Ontario, respectively, on May 8, 2023, remains in effect, in each case until the company is in a position to raise capital from other sources upon the issuance of a full revocation order in respect of the FFCTO.