Mr. Simon Dealy reports

HIRE TECHNOLOGIES ANNOUNCES COMPLETION OF SALE OF SELECT ASSETS OF ITS HEADHUNTERS BUSINESS AND $4.7 MILLION REDUCTION TO CURRENT LIABILITIES

Further to its news release dated March 13, 2023, Hire Technologies Inc. has closed the sale of select assets from its Headhunters business unit to the former shareholders of The Headhunters Recruitment Inc. (THH) and 2498820 Alberta Ltd. The Transaction is an "Exempt Disposition" as defined in the policies of the TSX Venture Exchange (the "TSXV").

"With this transaction, HIRE takes a pragmatic approach to optimizing our business by divesting select assets of the Headhunters business unit. This move enables HIRE to reduce liabilities, including a significant $4.7 million contingent consideration, which ultimately strengthens our financial position", said Simon Dealy, HIRE's Chief Executive Officer.

Pursuant to a Settlement and Asset Purchase Agreement dated March 10, 2023, among the Company, THH, and the Purchasers, the Purchasers acquired the rights to THH's trademark and domain name, email accounts, and website. The Former THH Shareholders are also released from their non-compete agreements with THH and the Company. The Purchasers have offered to continue employment for all the employees of the Business. As consideration for select assets and certain specified liabilities of the Business, the Purchasers paid HIRE a nominal cash amount.

In connection with the Transaction, the Purchasers and HIRE entered into a mutual release agreement relating to claims the Former THH Shareholders had under the original Share Purchase Agreement dated September 2021 (the "Share Purchase Agreement"), including a $4.7M liability. The Company anticipates that it will recognize a gain on the sale, which will be recorded in Q2-2023 along with an estimated reduction to current liabilities of $4.7M in contingent consideration for that which was owed to the Purchasers in connection with the Share Purchase Agreement. Additionally, the Company has agreed to issue to the Purchasers an unsecured three-year term 8% promissory note with an estimated principal amount of approximately $71,334, in partial satisfaction for the mutual release of claims under the Share Purchase Agreement.

For more information on the Transaction, please see the Company's news release dated March 13, 2023.

About HIRE Technologies Inc.

HIRE is a capital allocator focused on workforce management and staffing solutions. The company aims to develop a diverse portfolio of brands that leverage their synergies, scale, and reach. HIRE has expertise in building and expanding staffing and executive search companies and benefits from a scalable shared services platform. For additional information, visit hire.company.

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