Mr. Kyle Appleby reports

UPSNAP ANNOUNCES Q3 2023 FINANCIAL RESULTS

UpSnap Inc. has released its third quarter financial results for the three-month and nine-month periods ended Sept. 30, 2023.

Q3 2023 financial highlights:

• Total operating revenue was $215,000 for the three months ended Sept. 30, 2023, compared with $222,000 for the three months ended Sept. 30, 2022. Total operating revenue for the nine months ended Sept. 30, 2023, was $675,000 compared with $662,000 for the same period in 2023.
• Total operating costs for the three months ended Sept. 30, 2023, were $340,000 compared with $357,000 for the three months ended Sept. 30, 2022. Total operating costs for the nine months ended Sept. 30, 2023, were $1.06-million compared with $1.02-million for the same period in 2022.
• Net loss for the three months ended Sept. 30, 2023, was $153,000 compared with $163,000 for the same period in 2022. Net loss for the nine months ended Sept. 30, 2023, was $472,000 compared with a net loss of $444,000 for the same period in 2022.
• As Sept. 30, 2023, the company had cash and cash equivalents of $166,000 compared with $206,000 on Dec. 31, 2022.

This news release should be read in conjunction with UpSnap's unaudited financial statements and the accompanying notes, as at and for the quarter ended Sept. 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.

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