Ms. Maria Eagleton reports

INTELLABRIDGE TECHNOLOGY ANNOUNCES FILING OF CORRECTIVE DISCLOSURE PURSUANT TO OSC REVIEW AND PROVIDES OPERATIONS UPDATE

In connection with the continuing review of the Ontario Securities Commission of Intellabridge Technology Corp.'s continuous disclosure record and a subsequent request from OSC staff in connection therewith, the company has filed amended and restated interim financial statements for the three months ended March 31, 2023, and for the three and six months ended June 30, 2023, as well as amended and restated management discussion and analysis (MD&A) for the corresponding financial periods.

The restated interim financial statements were filed to include a notice that the restated interim financial statements have not been reviewed by the company's auditor in accordance with Subsection 4.3(3)(a) of National Instrument 51-102, Continuous Disclosure Obligations. The restated interim MD&A was filed to provide additional disclosure on the company's business and operations, including, but not limited to, the decision of Intellabridge to discontinue development of the Kash application, which occurred subsequent to the filing of the original management discussion and analysis, and to incorporate comments from the OSC. In response to comments from the OSC, the issuer included additional disclosure in the restated interim financial statements in respect of the anticipated timing and costs required for the company to develop the Karma card project. In particular, the company disclosed in the restated interim financial statements that it anticipates that the initial Karma card product launch expenses will be approximately $1.22-million (U.S.), comprising approximately $335,000 (U.S.) of product development costs, approximately $630,000 (U.S.) of marketing, customer acquisition, customer support and operations costs, and approximately $234,000 (U.S.) in general and administrative expenses.

The company determined to discontinue the development of the Kash application as management of the company determined that the best use of the company's capital and resources at this time would be to focus on the further development of the Karma card product. In connection with the company's decision to discontinue the development of the Kash application, the company anticipates recognizing a non-cash impairment of its assets in the aggregate amount of $252,524 (U.S.) on its annual financial statements for the financial year ended Dec. 31, 2023.

The restated interim financial reports are available on the company's SEDAR+ profile. Each of the restated interim financial reports replaces and supersedes the respective previously filed original financial statements and corresponding management discussion and analysis. Such previously filed original financial statements and management discussion and analyses should be disregarded.

As a result of the filing of the restated interim financial reports, the company will be placed on the public list of refiling and errors in accordance with OSC Staff Notice 51-711 (Revised), Refilings and Corrections of Errors.

Effective Feb. 21, 2024, Intellabridge has appointed Bruce Mann as the chair of the audit committee of the board of directors of the company and Intellabridge has filed a Form 52-110F2, Disclosure by Venture Issuers, on the company's SEDAR+ profile to provide disclosure in respect of the audit committee required pursuant to National Instrument 52-110, Audit Committees, including, but not limited to, an amended version of the company's audit committee charter.

About Intellabridge Technology Corp.

Intellabridge is a fintech (financial technology) company in the business of impact finance with a mission to make every transaction have a positive impact on the world through cashback solutions and automated customizable donations to charitable organizations based on the United Nations Sustainable Development Goals.

We seek Safe Harbor.