Mr. Jouni Keranen reports

KUUHUBB INC. ANNOUNCES CHANGE OF AUDITOR AND APPROVAL OF SUBSIDIARY KUU HUBB OY DEBT RESTRUCTURING APPLICATION

Kuuhubb Inc. has changed its auditor from MNP LLP to MS Partners LLP, effective Sept. 14, 2021. The board of directors of the company appointed the successor auditor as the new auditor effective Aug. 31, 2021, until the close of the company's next annual general meeting.

There were no reservations in the former auditor's audit reports for any financial period during which the former auditor was the company's auditor. There are no "reportable events" (as the term is defined in National Instrument 51-102 -- Continuous Disclosure Obligations) between the company and the former auditor.

In accordance with National Instrument 51-102, the notice of change of auditor, together with the required letters from the former auditor and the successor auditor, has been reviewed by the company's audit committee and filed on SEDAR accordingly.

Kuu Hubb Oy (Finnish subsidiary) debt restructuring update

The application to undergo debt restructuring proceedings for Kuuhubb's Finland-based subsidiary Kuu Hubb Oy (Finnish business ID: 2645999-5) has been received and approved. The approved restructuring proceedings will be conducted under the jurisdiction of the District Court of Helsinki in Finland. The restructuring proceedings are governed by the Finnish Restructuring of Enterprises Act (47/1993, REA).

Jouni Keranen, chief executive officer of Kuuhubb, states: "The application for debt restructuring of our subsidiary Kuu Hubb Oy has been approved, and the process is moving forward. While this process will take several months, we are confident that the outcome will lead to an improved financial situation and a decrease in the company's current debt burden." Mr. Keranen also added, "We would also like to thank MNP LLP for their guidance and expertise while working with us, and are pleased to announce that MS Partners LLP will be an important partner in the evolution of Kuuhubb Inc. as we embark upon the next stages of our company's growth plans."

About Kuuhubb Inc.

Kuuhubb is a publicly listed mobile game development and publishing company, targeting the female audience with bespoke mobile experiences. The company's mission is to become a top player in the female mobile game space. It believes in empowering women by creating games and apps that will have its female audience relax, express and entertain themselves every day. Through its games and partnerships with select developers, the company explores new lifestyle trends that can be converted into games and apps, which will bring value to its users, employees and shareholders. Headquartered in Helsinki, Finland, Kuuhubb has a global presence with a strong focus on U.S. and Asian markets.

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