Mr. Steven Glaser reports

POOL SAFE INC. ANNOUNCES CONCURRENT NON-BROKERED PRIVATE PLACEMENTS OF COMMON SHARES AND SENIOR SECURED CONVERTIBLE DEBENTURES FOR AGGREGATE GROSS PROCEEDS OF UP TO $3.2 MILLION

Pool Safe Inc. intends to complete concurrent non-brokered private placements for aggregate gross proceeds of up to $3.2-million, consisting of: (i) a private placement of common shares of the company for gross proceeds of up to $1.1-million at a price of 30 cents per share; and (ii) a private placement of up to $2.1-million principal amount of senior secured convertible debentures of the company at a price of $1,000 per convertible debenture.

Each convertible debenture will bear interest at a rate of 12 per cent per annum, payable quarterly on the fifth business day of each quarter in cash and will mature on the date that is 36 months from the applicable closing date. Each convertible debenture will be convertible, at the option of the holder, into shares at a conversion price of 50 cents per underlying share until maturity. The convertible debentures will not be listed on any exchange.

The convertible debentures will be senior secured obligations of the company and are expected to be secured by (i) a general security agreement over all present and after-acquired assets of the company and (ii) an assignment of revenues and receivables under key revenue-generating contracts of the company, including the LounGenie contracts, in each case to the extent permitted and subject to required third party consents, as set out in the definitive documentation.

The net proceeds from the offerings are expected to be used for the purchase of inventory for LounGenie deployments, repayment of the company's senior secured debenture and other legacy debt, and general working capital purposes.

The offerings are expected to be completed by way of private placement exemptions in all provinces of Canada and in such jurisdictions outside of Canada (including the United States) as may be agreed by the company, provided that no prospectus filing or comparable obligation arises in any such jurisdiction. All securities issued under the offerings (including the shares, convertible debentures and underlying shares) will be subject to a statutory hold period of four months and one day from the applicable closing date.

Closing of the offerings is anticipated to occur on such date or dates as determined by the company in its sole discretion and may be completed in one or more tranches. Completion of the offerings is subject to, among other things, the negotiation and execution of customary definitive documentation and the receipt of all required approvals, including acceptance of the TSX Venture Exchange.

About Pool Safe Inc.

Pool Safe designs, develops and distributes a product known as LounGenie, which functions as a multipurpose personal poolside attendant. LounGenie by Pool Safe Inc. is designed to provide safety, convenience, and peace of mind for hotels, resorts, water parks and cruise ship guests. Conveniently located alongside pool or beach lounge chairs, the LounGenie is a unique way of providing vacationers with a comforting sense of security for their belongings, while offering the vendor opportunities to increase F&B sales, expedite customer service and drive revenue.

We seek Safe Harbor.