TraceSafe Announces Financing to Power New Carbon Product and Growth

Vancouver, British Columbia--(Newsfile Corp. - August 16, 2022) - Tracesafe Inc., (CSE: TSF) ("TraceSafe" or the "Company"), a global leader in location-aware Internet of Things (IoT) platforms for large-scale enterprise operations and managed decarbonization, announced today that it will sell, on a non-brokered basis, a private placement (the "Private Placement") of up to 3,333,333 units of the Company (the "Units") at a price of CDN$0.15 per Unit for aggregate gross proceeds of up to CDN$500,000 (the "Offering"), subject to the conditional acceptance of the Canadian Securities Exchange (the "Exchange"). The financing will help drive TraceSafe's new direction towards decarbonization following the launch of its comprehensive carbon management solution, ShiftCarbon. Proceeds from the transaction will be used for general working capital and support product development and customer acquisition for ShiftCarbon.

Each Unit will consist of one common share (a "Common Share") and one whole non-transferable common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to acquire one Common Share (a "Warrant Share") at an exercise price of CDN$0.30 per Warrant Share for a period of twenty-four months from closing of the Offering (the "Closing Date").

In connection with the Offering, the Company may pay finders' fees on a portion of the Offering in accordance with applicable securities laws and the policies of the Exchange. All securities issued pursuant to the Offering will be subject to a statutory hold period of four month plus one day from the date of issuance in accordance with applicable securities laws.

"We have made significant progress on our growth plans that include the new decarbonization and net-zero focus in the last six months. With this financing, we will strengthen customer outreach for our carbon platform and geographic expansion of our IoT solutions in the Middle East," Wayne Lloyd, TraceSafe CEO.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933 (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About TraceSafe

TraceSafe provides Internet of Things (IoT) solutions transforming large-scale industrial and enterprise operations with unique wearables, industrial-grade sensors and award-winning analytics platform. The Company's hardware solutions, powered by advanced low-power bluetooth beacons, work together with its proprietary software to provide mission-critical data enabling safer, efficient and sustainable enterprise environments. With presence across North America, Asia and Europe, TraceSafe's solutions are trusted by leading organizations in healthcare, hospitality, construction, events, education and government. Recently, the company announced a strategic focus towards 'managed decarbonization' to help companies take credible climate action using high quality offsets. To this end, TraceSafe acquired an offset marketplace and launched its full suite of carbon management solutions- www.tracesafe.io/shiftcarbon

For further information, please contact:

Wayne Lloyd, CEO
+1 (604) 629-9975
wayne@tracesafe.io

Mark Leung, CFO
+1 (778) 655-4242
mark@tracesafe.io

The Canadian Securities Exchange has in no way approved or disapproved the contents of this news release.

Statements in this news release may contain forward-looking statements that are based on TraceSafe's expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to expectations regarding the TraceSafe assets and their application, future business plans and relationships, future developments in respect of carbon and climate risks and solutions adopted in response to climate change, and the deployment and acceptance of the TraceSafe technology. Although TraceSafe believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict, including the suitability of our products to help businesses and governments respond to climate change and impact of carbon emissions and government responses thereto and general economic and market conditions. Therefore, outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and TraceSafe undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134078