Mr. Bruce Howard reports

UPSNAP ANNOUNCES Q2 2023 FINANCIAL RESULTS

UpSnap Inc. has released its second quarter (Q2) financial results for the three-month period ended June 30, 2023.

"We remain dedicated to expanding our customer base, providing our clients with precise and impactful advertising solutions backed by data, and innovating new approaches to tackle the primary challenges advertisers face today," said Bruce Howard, chief executive officer of UpSnap. "We continue to emphasize these three foundational principles to enhance our market standing among advertisers, propelling both immediate and sustained growth in our enterprise."

Q2 and YTD (year-to-date) 2023 financial highlights:

• Total operating revenue for the three and six months ended June 30, 2023, were $224,000 and $460,000, compared with $215,000 and $440,000 for the three and six months ended June 30, 2022. This represents an increase of 4 per cent and 5 per cent, respectively.
• Total operating costs for the three and six months ended June 30, 2023, were $367,000 and $723,000, compared with $332,000 and $667,000 for the three and six months ended June 30, 2022. This represents an increase of 11 per cent and 8 per cent, respectively.
• Total net loss before taxes for the three and six months ended June 30, 2023, were $171,000 and $319,000, compared with $144,000 and $281,000 for the same periods in 2022.
• As June 30, 2023, the company had a cash and cash equivalents of $148,000, compared with $206,000 on Dec. 31, 2022.

This news release should be read in conjunction with UpSnap's unaudited condensed interim financial statements and the accompanying notes, as at and for the quarter ended June 30, 2023, together with the related management's discussion and analysis. Those documents have been filed with certain securities regulatory authorities in Canada and are available on SEDAR and on the UpSnap website.

About UpSnap Inc.

UpSnap provides highly targeted, data-driven mobile advertising to attract the ideal audience for brands big and small. Utilizing real-time analytics, UpSnap goes beyond location to deliver app-agnostic and results-driven campaigns that produce qualified, engaged customers. UpSnap tailors each campaign to align with unique business goals, delivering the right customers for more meaningful exposure and better business results.

We seek Safe Harbor.