Mr. Shane Madden reports

HYDREIGHT PROVIDES CORPORATE UPDATE REFLECTING SIGNIFICANT REVENUE GROWTH AND STRONG ORGANIC OPERATIONAL GROWTH

Hydreight Technologies Inc. has provided a corporate update reflecting its significant organic growth, increased patient visits and strong revenue growth.

Shane Madden, chief executive officer of Hydreight, commented: "I am incredibly pleased with the significant growth the company has been able to achieve. We continue to focus on our mission of becoming the leading mobile clinical network across North America. Currently, our platform services 50 states in the U.S., which is a significant milestone for us considering the complex and different health care legislation across all states. Our platform allows health care professionals the ability to operate as independent contractors across the United States, hence why we are referred to as the Uber for nurses. Over the last three years, we have achieved close to triple-digit revenue growth, and we are projecting 2023 top-line revenue of approximately $17-million from our four key revenue pillars. This increase represents 250-per-cent growth YoY [year-over-year]."

He continued: "We know that the home health care market is projected to reach $340-billion (U.S.) by 2027 in the U.S. alone, and the company is well positioned to capitalize on the rapidly growing home health care industry and will continue using our platform to empower health care professionals to deliver personalized, on-demand care, bridging the gap between provider compliance and patient convenience."

Proprietary platform growth

Hydreight's home health care and wellness platform bridges the gap between providers and patients, and empowers nurses, medical spa technicians and other licensed health care professionals to legally deliver at-home services on a flexible schedule, or to add mobile services to existing location-based operations. The proprietary health care platform enables nurses to legally offer at-home care services with a network of doctors across 50 states. Month-over-month, Hydreight has seen significant traction and growth in its nurse network and patient visits:

• The platform now has over 2,600 medical professionals operating in over 650 cities across 50 states;
• Network of more than 100 independent doctors and growing nationally;
• Over 100,000 home services provided to date.

The company has successfully managed to navigate the complex legal structure across 50 states and has expanded its legal structure to continuously monitor all three state board legislations as well as CPOM (corporate practice of medicine) laws nationally to ensure its platform adheres to the correct rules and regulations.

Technology investments and advances

Over the last few months, Hydreight has made several technology advances to its proprietary, fully integrated medical platform comprising electronic medical records (EMR), telemedicine, and mobile booking and charting technology. The company continues to advance its technology and is planning to launch additional service offerings, including lab tests, aesthetics, customized patient-specific nicotinamide adenine dinucleotide (NAD+) services, semaglutide and weight loss.

Hydreight's technology platform is now available from the Google Play and Apple App store, and on-line via browsers, which offers patients more options to book services. Furthermore, through technology advances, the platform is now connected to the complete independent doctor network across the United States and nurse practitioners, in the states that allow it, to offer robust telemedicine services to support its comprehensive platform as needed.

Pharmacy partnerships

Hydreight's pharmacy division directly manages and supports its proprietary health and wellness platform. Year-to-date, Hydreight has filled approximately 6,240 pharmacy orders through its direct network and white-label clients, compared with 3,021 pharmacy orders during the full-year 2022.

White-label partnerships allow brick and mortar franchise networks to take advantage of an end-to-end solution, including integrated technology, as well as its doctor and pharmacy networks, which ensures these businesses are compliant. The company has secured multiple white-label partnerships, including an IV (intravenous) clinic network with 75 locations across the United States. Hydreight will continue to focus on expanding its white-label partnership network to become a meaningful revenue stream.

Corporate milestones

Over the last several months, Hydreight has developed a robust onboarding infrastructure to help with onboarding its medical professionals. In doing so, the company continues to scale its network, reduce the onboarding time for its nurses and increase overall customer satisfaction.

Part of this development includes an on-line learning and development hub, with a library of valuable resources to support and help the network, including over 50 videos and training instructions across 10 topics. The learning centre will help nurses navigate easily to find answers to questions, and master the health and wellness app.

Since listing on the TSX Venture Exchange, Hydreight has also listed on the OTCQB to help support its awareness efforts in the United States, and the Frankfurt exchange as part of its European strategy. The company has also started implementing a strong capital markets strategy to build investor awareness.

The company has entered into director services agreements with Carey Dillen and Alexandros Tzilios (through his holding company, Perihelion Holdings Ltd.) effective as of Oct. 3, 2023. Pursuant to such agreements, the company pays Ms. Dillen and Mr. Tzilios monthly cash compensations of $5,500 and $5,000, respectively, for the services they provide to the company as board members of the company. The agreements are for an initial term of four months and then continue on a month-to-month basis until terminated, in accordance with their terms. Since January, 2023, the company has paid Perihelion Holdings $5,000 per month for services provided by Mr. Tzilios as a board member of the company.

Looking forward, Hydreight will continue to focus on product expansion and widening of the overall service offering, tech-enabled solutions facilitating patient-specific medications, and integrated telemedicine and pharmacy delivery. The company continues to review and evaluate strategic tuck-in acquisitions that align with Hydreight's business model to scale and grow its network and revenue quickly.

About Hydreight Technologies Inc.

Hydreight Technologies is building the largest mobile clinic network in the United States. Its proprietary, fully integrated platform includes a network of over 2,500 nurses, over 100 doctors and a pharmacy network across 50 states. The platform includes a built-in, easy-to-use suite of fully integrated tools for accounting, documentation, sales, inventory, booking and managing patient data, which enables nurses to provide services directly to patients at home, office or hotel. Hydreight is bridging the gap between provider compliance and patient convenience, empowering nurses, medical spa technicians and other licensed health care professionals. It delivers services independently, on its own terms, or adds mobile services to existing location-based operations. Hydreight has a 503B pharmacy network servicing all 50 states and is a U.S.-certified e-script and telemedicine provider that allows it to provide services in over 650 cities and growing. The company generates revenue from four main revenue streams: high-margin recurring subscription revenue from nurses using the platform, a percentage of the services provided, margins from the products being ordered from its pharmacy network and, most recently, white-label partnerships.

We seek Safe Harbor.