Mr. Mike Reinhart reports

QUISITIVE ANNOUNCES C$6 MILLION BOUGHT DEAL FINANCING

Quisitive Technology Solutions Inc. has entered into an agreement pursuant to which Scotiabank and Eight Capital, have agreed to purchase, on a bought deal basis, 17.2 million common shares in the capital of the company at a price of 35 cents per offered share for aggregate gross proceeds to Quisitive of approximately $6-million. The company has granted the underwriters an option, exercisable, in whole or in part, at any time not later than the 30th day following the closing of the offering, to purchase up to an additional 2.58 million offered shares at the issue price for market stabilization purposes and to cover overallotments, if any. If the overallotment option is exercised in full, the total gross proceeds of the offering will be approximately $6.9-million.

Ewing Morris & Co. Investment Partners Ltd., on behalf of certain funds managed by it, has agreed to participate in the offering with an investment amount of approximately $5-million.

The net proceeds from the offering are expected to be used to partially finance the acquisition of sales residuals held by certain sales representatives of the company and for general working capital. The impact of the sales residuals repurchase is expected to result in an immediate increase to the company's gross margin and EBITDA (earnings before interest, taxes, depreciation and amortization) margin. The transaction is expected to close in July, 2023.

In connection with the offering, the underwriters will receive a cash commission equal to 6 per cent of the gross proceeds from the sale of the offered shares (including any offered shares issued pursuant to the exercise of the overallotment option).

The closing of the offering is expected to occur on or about June 30, 2023, and is subject to the approval of the TSX Venture Exchange and other necessary regulatory approvals.

The offered shares will be offered by way of (i) a prospectus supplement to Quisitive's short form base shelf prospectus dated Aug. 29, 2022, which prospectus supplement is expected to be filed with the securities commissions and other similar regulatory authorities in each of the provinces and territories of Canada, other than Quebec, on or prior to June 23, 2023; (ii) subject to the written consent of the company, in the United States by way of private placement pursuant to exemptions from registration provided for under Rule 144A of the United States Securities Act of 1933, as amended; and (iii) in jurisdictions outside of Canada and the United States as are agreed to by the company and the underwriters on a private placement or equivalent basis.

About Quisitive Technology Solutions Inc.

Quisitive is a premier, global Microsoft partner that harnesses the Microsoft cloud platform and complementary technologies, including custom solutions and first party offerings, to generate transformational impact for enterprise customers. Quisitive's cloud solutions business focuses on helping enterprises move, operate and innovate in the three Microsoft clouds. Quisitive's payment solutions division leverages the PayiQ platform, powered by Microsoft Azure, to transform the payment-processing industry into an entirely new source of customer engagement and consumer value. Quisitive serves clients globally from 17 employee hubs across the world.

We seek Safe Harbor.