Spacefy Provides Corporate Update

Toronto, Ontario--(Newsfile Corp. - April 6, 2020) - Spacefy Inc. (CSE: SPFY) ("Spacefy" or the "Company"), the sharing-economy marketplace for inspiring space rentals targeting the creative industry, announced today that, given the challenges posed by COVID-19, it has made changes to its personnel.

Mr. Michael Bradley, Chairman of the Board, has been appointed by the Board as Interim President and Chief Executive Officer of the Company effective immediately as Russ Patterson has stepped away from his roles as CEO and board member, and the Board thanks Mr. Patterson for his service and dedication to the organization. Judeh Siwady, a founder of the Company, shall leave his role as Chief Operating Officer & VP, Marketing of the Company, however, he will continue provide advisory services to the Company as needed and shall remain on the Board of Directors.

Given the challenges of the COVID-19 pandemic, and at the Board's direction, the Company has decided to dismiss all other staff positions and will outsource personnel as required.

The Company continues to pursue enhancements to its digital platform and will be pursuing synergistic acquisitions and partnerships to drive growth and revenue.

Management and the Board of Directors continue to be committed to the growth and development of Spacefy and will remain available for contact with its stakeholders during this unprecedented period of worldwide business closures and social distancing. We look forward to coming out of this period positioned to support our community with space rentals for their productions, projects, classes, events and more. In the meantime, please stay safe.

About Spacefy

Spacefy is a marketplace that connects creative professionals with spaces for their projects, productions, and events. Harnessing the power of the sharing economy, Spacefy gives creative professionals access to unique and underutilized spaces while enabling property owners to further monetize their space.

Contact Information

Spacefy Inc.

Michael Bradley
Chairman
michael@spacefy.com

Jay Bedard
Investor Relations
jay@spacefy.com

CAUTIONARY STATEMENT REGARDING FORWARD‐LOOKING INFORMATION: This news release includes certain "forward‐looking statements" under applicable Canadian securities legislation. Forward‐looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to speculation that Spacefy will receive ongoing advisory services from Judeh Siwady and utilize other outsourced personnel and also will be pursuing synergistic acquisitions and partnerships that will drive growth and revenue. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. No assurance can be given that any of the events anticipated by the forward‐looking statements will occur or, if they do occur, what benefits the Company will obtain from them. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‐looking statements. Spacefy Inc. disclaims any intention or obligation to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, except as required by law. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54204