Mr. John Henderson reports

MOBILUM TECHNOLOGIES' SHAREHOLDERS APPROVE SALE OF EUROPEAN SUBSIDIARIES

Mobilum Technologies Inc. completed its special meeting of shareholders of the company on June 15, 2023, at 10 a.m. Pacific Time. The special resolution was passed approving the sale of Mobilum Pay Sp Zoo. Mobilum Pay was a wholly owned Polish subsidiary of the company involved in the processing of on-line digital currency exchange transactions.

Given shareholders' approval of the transaction, the company is in the process of transferring its ownership of Mobilum Pay to TTP Ltd. The purchaser has assumed all continuing operational liabilities and obligations of Mobilum Pay, estimated to be approximately $265,000 (U.S.). Seventy thousand U.S. dollars have already been received by the company. The balance of the purchase price will be paid in 10 equal monthly instalments of $18,000 (U.S.) every 30 days from the date of closing.

Management of the company is confident in its renewed direction and focus within the payments service industry.

About Mobilum Technologies Inc.

Mobilum (Canadian Securities Exchange: MBLM) (OTC: MBLMF) (Frankfurt Stock Exchange: C0B) is a technology-driven payment service provider (PSP) with a mission to make bill payments easier and more accessible. Mobilum has offices in Canada and the United States.

We seek Safe Harbor.