POSaBIT Systems Corporation Grants Stock Options

Toronto, Ontario and Seattle, Washington--(Newsfile Corp. - October 8, 2020) - POSaBIT Systems Corporation (CSE: PBIT) (OTC PINK: POSAF) ("POSaBIT" or the "Company"), a leading financial technology company delivering unique payment processing and point-of-sale (POS) systems for cash-only businesses with a focus on the cannabis industry, announces that the Board of Directors has approved the grant of 3,956,895 stock options (the "Options") to participants of the Company's stock option plan (the "Plan"). The Options are exercisable into common shares of the Company at an exercise price of $0.095 per share over the next 10 years, with vesting periods ranging from immediately to 4 years, all in accordance with the Plan.

As of the date hereof, a total of 16,610,000 common shares of the Company are reserved for issuance under the Plan and after the grant, there are 13,404,864 options outstanding, with 3,205,136 available for issuance under the Plan.

About POSaBIT

POSaBIT (CSE: PBIT) is a financial technology company that delivers unique and innovative, blockchain-enabled payment processing and point-of-sale systems for cash-only businesses. POSaBIT specializes in resolving pain points for complex, high-risk, emerging industries like cannabis with an all-in-one solution that is compliant, user-friendly and utilizes top-of-the-line hardware. POSaBIT's unique solution provides a safer and transparent environment for merchants while creating a better overall experience for the consumer. For additional information, visit: www.posabit.com.

Contact:

Investor Relations:
investors@posabit.com

Media Relations:
Oscar Dahl
855-767.2248
oscar@posabit.com

Management:
Ryan Hamlin
Co-founder and CEO of POSaBIT
855-767-2248
investors@posabit.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/65512