Mr. Kyle Appleby reports

UPSNAP FILES AN "ASSIGNMENT IN BANKRUPTCY"

UpSnap Inc. has filed an assignment in bankruptcy under the Bankruptcy and Insolvency Act (Canada).

The company is no longer able to meet its financial obligations and has appointed B. Riley Farber Inc. to act as its bankruptcy trustee to, among other things, seek settlement with its creditors. The company confirms the trustee may be permitted to realize on the assets of the company to maximize the benefit for creditors.

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.