Mr. Hubert Lau reports

TRUSTBIX INC. ANNOUNCES CONDITIONAL ACCEPTANCE BY THE TSX VENTURE EXCHANGE, COMPLETION OF INITIAL TRANCHE AND EXTENSION OF PRIVATE PLACEMENT

Trustbix Inc.'s non-brokered private placement, previously announced on Aug. 14, 2023, for up to five million units of the company at a price of two cents per unit for gross proceeds of up to $100,000, has received conditional acceptance by the TSX Venture Exchange. Trustbix has closed on the initial tranche of subscriptions of 3.7 million units for gross proceeds of $74,000. Further, the exchange has granted a 30-day extension until Nov. 15, 2023, to close the private placement.

Each unit is composed of one common share in the capital of Trustbix and one common share purchase warrant, whereby each warrant entitles the holder to purchase one common share at a price of five cents for a period of one year from the date of closing. The securities issued under the private placement are subject to a four-month hold period from the time of closing of the private placement.

An officer of the company participated in the private placement and acquired 125,000 units for $2,500. The participation of this insider in the private placement constitutes a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The board of directors of the company determined that the transaction is exempt from the formal valuation and minority shareholder approval requirements contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 for the related-party transaction, as neither the fair market value of securities issued to the insiders, nor the consideration paid by the insiders exceeded 25 per cent of the company's market capitalization.

As the financing is below five cents, the company is relying on the minimum pricing exemption provided by the exchange and is providing a brief description on the use of proceeds being raised. The proceeds will be used for continuing working capital and expenses associated with the completion of the acquisition of Alberta Food Security Inc., as previously announced on Aug. 31, 2023.

About Trustbix Inc.

The vision is to create a world where there is more trust and less waste by leveraging Bix and its technology solutions. Trustbix delivers independent validation of provenance and sustainable practices within multiple supply chains and industries.

Bix Location Services offers solutions to supply chains that bring situational awareness for high-value assets.

ViewTrak Technologies Inc., a wholly owned subsidiary, provides a suite of hardware and software solutions to the livestock industry in North America and China.

We seek Safe Harbor.