Mr. Ryan Hardy reports

PERK LABS ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENTS

Perk Labs Inc. has closed its non-brokered private placements of units and convertible debentures.

Private placement of units

The company closed a non-brokered private placement of 78.9 million units at a price of one cent per unit for gross proceeds of $789,000. Each unit consists of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at a price of five cents per common share for a period of 24 months from the closing.

Private placement of convertible debentures

Perk Labs also announced that it closed a non-brokered private placement of convertible debentures for gross proceeds of $25,000. The debentures mature two years from the date of issuance and bear interest at a rate of 15 per cent per annum. The debentures are convertible into common shares at a conversion price of five cents per common share, subject to the terms and conditions set forth in the specific debenture agreement.

All securities issued pursuant to the private placements are subject to a statutory hold period of four months and one day following the closing. The net proceeds from the private placements will be used for general working capital purposes, accounts payable and employee salaries.

In connection with the private placements, B. Rogic, a related party of the company (as defined in Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions), acquired $73,000 of units. The acquisition of units by Mr. Rogic constituted a related party transaction within the meaning of MI 61-101. The company relied on an exemption from the formal valuation requirements of MI 61-101, as no securities of the company are listed or quoted on specified markets, and an exemption from the minority approval requirements of MI 61-101, as the fair market value of the participation in the private placement by Mr. Rogic did not exceed 25 per cent of the company's market capitalization.

About Perk Labs Inc.

Perk Labs, the owner of Getit Technologies Inc. and Perk Hero Software Inc., provides innovative mobile ordering and payment systems, allowing customers the ability to scan a QR (quick-response) code or NFC (near-field communication) sticker to order and pay for their purchases directly from their phone. Perk Labs specializes in providing a single unified payment interface for complex purchase environments -- environments that have multiple retailers processing an array of different transactions, including food and beverage purchases, merchandise sales, ticketing, registrations, donations, parking fees, and service payments. Perk Labs provides a custom-branded solution that is ideal for multitransaction brands such as stadiums and arenas, university and college campuses, conference centres, hotels and resorts, festivals and events, and professional service companies.

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