Mr. Mike Marrandino reports

INVERITE ANNOUNCES 2ND TRANCHE CLOSING OF PRIVATE PLACEMENT

Inverite Insights Inc. has closed the second tranche of its private placement (see news release of Jan. 30, 2024) in the amount of 4.4 million units for aggregate proceeds of $220,000. Each unit is composed of a common share and one whole warrant, with each whole warrant exercisable to purchase a common share at a price of 10 cents for a period of two years. All securities issued are subject to a hold period until June 17, 2024.

Insiders of the company purchased 4.4 million units, representing the total number of units issued pursuant to the closing, with the associated common shares representing approximately 2.3 per cent of the then-issued common shares following closing and, if the associated warrants are exercised, an aggregate number of common shares representing approximately 4.5 per cent of the then-issued common shares following closing. The participation by the insider constitutes a related-party transaction within the meaning of the policies of the Canadian Securities Exchange and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is relying upon the exemptions from the formal valuation and minority shareholder approval requirements pursuant to sections 5.5(a) and (b), and 5.7(1)(a), respectively, of MI 61-101, on the basis that neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction insofar as it involves interested parties (within the meaning of MI 61-101) in the placement exceeds 25 per cent of the company's market capitalization calculated in accordance with MI 61-101, and on the basis that no securities of the company are listed or quoted on a stock exchange, as specified in MI 61-101.

The company also wishes to announce the issuance of 3,995,000 stock options under the company's respective restricted omnibus equity incentive plan. The granted stock options were issued to directors, an employee and a consultant to the company. These options expire five years from the date of grant, vest in equal one-quarter amounts starting on the date of grant, and in each of the first-year, second-year and third-year anniversaries from the date of grant, and are exercisable at 5.5 cents per share.

The grant of the stock options is subject to approval from the Canadian Securities Exchange.

About Inverite Insights Inc.

Inverite Insights is a Vancouver-based, artificial intelligence-driven software provider specializing in real-time financial data. With a vast database of over seven billion financial data points from more than four million unique Canadian consumers transactions, Inverite empowers businesses to transact more effectively with consumers through innovative solutions for data enrichment, identity, risk management and compliance.

We seek Safe Harbor.