Mr. Sean Schaeffer reports

ZOOMAWAY HAS ENTERED INTO BINDING LETTER OF INTENT TO ACQUIRE LARGE ONTARIO-BASED RETAILER AND WILL SPIN OUT TRAVEL ASSETS

Zoomaway Technologies Inc., as of April 5, 2022, has entered into a binding letter of intent to acquire all of the issued and outstanding shares of a rapidly growing, privately held specialty retailer (TargetCo) with locations throughout the province of Ontario.

Additional information in respect of TargetCo and the transaction, including the purchase price and structure, will be communicated by the company in one or more subsequent new releases in accordance with policies of the TSX Venture Exchange (TSX-V).

Concurrently with the completion of the Transaction, Zoomaway Technologies intends to spin-off its current business to its wholly owned subsidiary Zoom Tech Inc. This will include all intellectual property and related rights to its retail and hospitality technology platforms. As part of this plan, Zoomaway Technologies intends to continue to seek out other acquisition opportunities.

Under the policies of the TSX-V, the transaction will constitute a change of business and, as a result, trading in the shares of the company has been halted and is expected to remain halted pending receipt of conditional approval of the TSX-V and/or closing of the transaction.

Closing of the transaction will be subject to, inter alia, completion of due diligence, the signing of a definitive agreement and obtaining all requisite shareholder and regulatory approvals. Completion of the transaction is subject to a number of conditions, including but not limited to, TSX-V acceptance and, if applicable, disinterested shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Zoomaway Technologies should be considered highly speculative. The TSX-V has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.

About Zoomaway Technologies Inc.

Zoomaway Technologies is a technology company that is revolutionizing the hospitality and travel industries. The company has developed a variety of software solutions that enhances the planning and engagement of everyday tourists. The company's flagship project, Zoomedout, is a complete modernization and reimagination of mobile travel apps. In a full 3-D environment, the company is able to integrate planning, booking, social media and camaraderie into a tangibly rewarding experience. The company is combining travel, hospitality, mobile gaming and augmented reality to change the way users travel into 2020 and beyond.

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