Mr. Gene McConnell reports

SPOTLITE360 ANNOUNCES LATE FILING OF ANNUAL FINANCIAL STATEMENTS AND MANAGEMENT CEASE TRADE ORDER

As a result of delays to its audit, Spotlite360 IOT Solutions Inc.'s annual financial statements and accompanying management discussion and analysis for the fiscal year ended Dec. 31, 2023, will not be finalized by April 29, 2024, being the date that such filings are due under applicable Canadian securities law requirements. The company has applied for and has been granted a management cease trade order (MCTO) by the British Columbia Securities Commission.

The reason for the anticipated delay is due to a necessary change in service providers previously retained to assist the company in managing the issuer's corporate records, regulatory compliance, filing requirements and financial reporting considerations. As a result of this change, the company anticipates needing additional time to complete the annual audit. The company is working with its auditor (Reliant, certified public accountant) to complete the audit in a timely manner.

The company currently expects to file the annual filings on or before June 28, 2024, and will issue a news release announcing completion of such filings at such time. Until the company files the annual filings, it will comply with the alternative information guidelines set out in National Policy 12-203, Management Cease Trade Orders, for issuers who have failed to comply with a specified continuous disclosure requirement within the times prescribed by applicable securities laws. The guidelines, among other things, require the company to issue biweekly default status reports by way of a news release so long as the annual filings have not been filed.

During the MCTO, the general investing public will continue to be able to trade in the company's listed common shares. However, the officers of the company will not be able to trade in the company's common shares.

About Spotlite360 IOT Solutions Inc.

Spotlite360 provides a fully integrated SaaS-based (software as a service) enterprise tracing, tracking and collaboration solution that companies trust to achieve more sustainable and better-performing supply chains. Spotlite360's solution is built on a scalable and fully customizable platform that leverages a broad array of RFID (radio-frequency identification), IoT (Internet of Things) and sensor technologies to provide item-level visibility, proof of origin, authenticity and chain of custody to its customers in pharmaceutical, health care and agriculture. Companies across all industries are needing to invest in more resilient, adaptable and collaborative supply chains in order to remain competitive. Current demand by consumers for proof of ESG (environmental, social and governance), pressure across all industries to become more sustainable, new regulatory and legal requirements, and the need for companies to become more efficient are some of the factors contributing to demand for supply chain solutions. Spotlite360 will leverage its proven supply chain tracing and tracking solutions to meet this demand and transform logistics workflows for enterprise clients in its target markets.

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