Press Release Regarding Early Warning Report with Respect to Securities of Katipult Technology Corp.

CALGARY, Jan. 2, 2020 /CNW/ - Mr. Brock Murray and Mr. Pheak Meas (the "Grantors") hereby announce that they have each granted options (the "Options") to acquire 1,750,000 common shares (the "Common Shares") in the capital of Katipult Technology Corp. (the "Company") from their personal holdings to Mr. Gord Breese (the "Optionee"), the newly appointed Chief Executive Officer and Director of the Company.    

The Options will be exercisable at a price of $0.20 per Common Share for a period of five years from the date of grant, vesting in equal portions annually on December 31, 2020 through 2023, resulting, upon full exercise of the Options, in $350,000 of aggregate consideration to each Grantor.

Immediately prior to closing of the grant, each of the Grantors held 18,375,000 Common Shares, representing approximately 26.8%, individually, of the current issued and outstanding Common Shares.  Assuming exercise of all of the Options by the Optionee, each of the Grantors will hold 16,625,000 Common Shares, representing approximately 24.2%, individually, of the current issued and outstanding Common Shares.  Assuming full exercise of the options described in the press release of the Company dated September 23, 2019, each of the Grantors will hold 14,000,000 Common Shares, representing approximately 20.1%, individually, of the current issued and outstanding Common Shares.

Mr. Murray and Mr. Meas are granting the Options in support of the continued development of the Company.  Notwithstanding the foregoing, each of the Grantors may, from time to time, acquire additional securities of the Company, dispose of some or all of the existing or additional securities held or to be held, or, may continue to hold their current position.

This News Release is issued pursuant to National Instrument 62-103 - Early Warning System and Related Takeover Bids and Insider Reporting Issues of the Canadian Securities Administrators, which also requires an early warning report to be filed with the applicable securities regulators containing additional information with respect to the foregoing matters. Such early warning reports will be filed within the timelines required by applicable securities laws and made available on the Company's SEDAR profile.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Brock Murray, c/o the Company, 1600, 144 – 4th Avenue S.W., Calgary, Alberta T2P 3N4

Katipult Technology Corp., Brock Murray, [email protected], 587-393-3981