Mr. John Lorenzo reports

SPOT COFFEE ANNOUNCES EQUITY FINANCING IS ONGOING

Spot Coffee (Canada) Ltd.'s previously announced non-brokered private placement offering of up to 10 million units at a price of five cents per unit for aggregate gross proceeds of up to $500,000 is continuing. Each unit will consist of one common share of Spot and one-half of one common share purchase warrant. Each whole warrant issued under this equity financing will entitle the holder to acquire one additional common share at a price of 7.5 cents for a period of 24 months from the initial closing date. The warrants will include an acceleration clause to the effect that if at any time the closing trading price of the common shares on the TSX Venture Exchange is nine cents or more for a period of 30 consecutive days, the company will be entitled to notify all holders of warrants of its intention to force the exercise of the warrants and to issue a news release to such effect, following which the holders of warrants shall have 30 days from the date of the news release to exercise the warrants. All of the common shares and warrants issued in connection with this financing will be subject to a statutory four-month hold period in accordance with applicable securities laws. Closing of this private placement is expected to occur in one or more tranches, and is subject to receipt of approval from the TSX Venture Exchange.

The proceeds raised under this financing are expected to be used for the following purposes:

• To support and expand the company's 2021 franchise program;
• To pay off a portion of the company's outstanding debentures;
• For general working capital purposes.

About Spot Coffee (Canada) Ltd.

Spot has been designing, building and operating company-owned and franchise community cafes in the northeastern United States for over 25 years. Spot's cafes provide their customers with the highest-quality service, signature made-to-order meals and award-winning microroasted coffee. Each Spot café is distinctively designed to suit the local neighbourhood, creating a warm and friendly gathering place for the community. Spot's commercial business focuses on the sale of roasted coffee beans to food service and grocery chains, business offices, and resellers such as universities and hospitals.

We seek Safe Harbor.