Mr. Simon Dealy reports

HIRE TECHNOLOGIES ANNOUNCES DENIAL OF MCTO AND DELAY IN FILING ITS ANNUAL FINANCIAL STATEMENTS FOR 2022

HIRE Technologies Inc.'s application to the Ontario Securities Commission (OSC) to approve a management cease trade order (MCTO) under National Policy 12-203 -- Management Cease Trade Orders has been denied. The company previously reported a delay in filing its Annual Financial Statements for the fiscal year ended Dec. 31, 2022, as outlined in the company's news release dated April 17, 2023. The company continues to expect it will be unable to file its audited financial statements for the year ended Dec. 31, 2022, and the management's discussion and analysis, and related chief executive officer and chief financial officer certificates for this period (collectively, the required filings) by the May 1, 2023, filing deadline. The company's failure-to-file its required filings by the filing deadline is due to unforeseen challenges in completing the 2022 financial audit. The recent resignation of the company's CFO and the continuing search for a suitable replacement have led to internal resource constraints, causing delays in providing necessary information to the company's auditor. Additionally, the complexities associated with the recently completed divestiture of The HeadHunters business unit have contributed to the audit's prolonged completion.

The OSC determined that the company was not entitled to the MCTO as the company's shares did not meet the requirement in NP 12-203, Section 6(d), with respect to having an "active, liquid market" and informed the company that staff of the OSC will be issuing a failure-to-file cease trade order (an FFCTO) after the filing deadline, pursuant to National Policy 11-207 -- Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions for the failure to file the required filings by the filing deadline. Once issued, the FFCTO will remain in effect until the required filings are filed and will prohibit trading in the company's common shares by any person in each jurisdiction in Canada in which the company is a reporting issuer, for as long as the FFCTO remains in effect. If the default is remedied within 90 days of the date of the FFCTO, including any annual or interim financial statements, management's discussion and analysis, and chief executive officer and chief financial officer certificates that subsequently become due, the filing of the required filings will constitute an application to revoke the FFCTO.

The company will continue to work diligently with its auditor to complete the audit and file the required filings. There is no assurance that the company will be able to remedy its filing default and have the FFCTO revoked in a timely manner or at all. Please refer to the company's news release dated April 17, 2023, for additional information.

About Hire Technologies Inc.

Hire is a growing capital allocator rapidly establishing itself as a market leader in work force management and staffing. Hire's mission is to create a world-class portfolio of brands that will define the future of human resources through synergies, scale and reach. The company has extensive experience building and growing staffing and executive search companies and is supported by a large recurring revenue base and a highly scalable shared services platform.

We seek Safe Harbor.