Mr. Hubert Lau reports

TRUSTBIX INC. ANNOUNCES STRATEGIC CHANGES TO PRODUCT PORTFOLIO AND EXTENSION AND AMENDMENT TO PREVIOUSLY ISSUED CONVERTIBLE DEBENTURE

Trustbix Inc. is shifting its product portfolio whereby the company will initiate a planned transition to gradually phase out its ViewTrak Market Master (MM) and Dealer Master (DM) software programs and has extended and amended its convertible debenture.

Strategic changes to product portfolio

The MM and DM programs represented approximately 19 per cent and 23 per cent of total revenue during the fiscal years ended Sept. 30, 2023, and 2022, respectively.

The company expects the planned phase out to occur gradually over the next 12 months. Throughout this period, the company will continue to provide certain continuing support for MM and DM hardware and software to its customers to allow for a smooth transition.

As part of this strategic shift, TrustBIX encourages its existing MM and DM customers to migrate to its newer ViewTrak Auction Master Pro (AMP) software program.

"This strategic move allows us to streamline our offerings and focus our efforts towards newer products. We remain dedicated to supporting our customers throughout this transition and look forward to the opportunity to continue to work together with our AMP program," said Hubert Lau, chief executive officer.

Extension and amendment to convertible debenture

The company and the holder of the previously issued unsecured convertible debenture have entered into an agreement to amend the terms of the debenture to extend the maturity date from Jan. 5, 2024, to Jan. 5, 2025, and to remove the option of the holder of the debenture to convert the debenture into common shares of the company, such that no securities will be issued as payment for the debenture. All other terms of the debentures remain the same.

About Trustbix Inc.

Trustbix is an agricultural technology company providing "Gate to Plate" solutions to create a world where people trust more, waste less and reward sustainable practices. The company's award-winning technologies offer practical tools trusted by local and international agrifood organizations.

We seek Safe Harbor.