BnSellit Technology Inc. Announces First Quarter Financial Results with Significant Revenue Growth

Toronto, Ontario--(Newsfile Corp. - May 30, 2023) - BnSellit Technology Inc. (CSE: BNSL) (the "Corporation"), through its MetaGuest.AI platform, is a cutting-edge technology company that develops advanced AI platforms for the hospitality industry designed to enhance the guest experience. The Corporation is pleased to provide its first quarter financial results for the period ended March 31, 2023.

FINANCIAL HIGHLIGHTS

• Revenue increased to $27,411 for the first quarter of 2023 from $854 in the first quarter of 2022;
• Monthly revenue increasing from $6,425 in January 2023, to $6,535 in February 2023, to $14,451 in March 2023;
• Revenue consists of $24,739 in monthly hotel subscriptions and $2,672 in commission revenue from guest experiences.

SUBSEQUENT EVENTS - EQUITY FINANCINGS AND DEBT SETTLEMENTS

• April 2023 financing of $281,372 in $0.06 Units (including a $0.10 half warrant);
• April 2023 debt settlement of $388,000 in convertible debentures and $91,324 in payables in $0.06 Units.

Tony Comparelli, CEO and Director commented, "I am delighted by the advancements made in the MetaGuest.AI program. Anticipating a surge in monthly subscription growth and revenue, we are eagerly looking forward to an increasing number of hotels and their business partners joining our platform in the upcoming months."

A comprehensive discussion of the Corporation's financial position and results of operations is provided in the financial statements and MD&A for the three-month period ending March 31, 2023, filed on SEDAR.

Forward-Looking Statements

This news release may contain forward-looking statements (within the meaning of applicable securities laws) which reflect the Corporation's current expectations regarding future events. Forward-looking statements are identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "estimate" and other similar expressions. These statements are based on the Corporation's expectations, estimates, forecasts, and projections and include, without limitation, statements regarding the future success of the Corporation's business. Financial performance figures are in Canadian Dollars unless otherwise indicated by "U" representing United States Dollars.

The forward-looking statements in this news release are based on certain assumptions, including, without limitation, the Corporation's common shares beginning trading on the CSE. The forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Several factors could cause actual results to differ materially from the results discussed in the forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Corporation assumes no obligation to publicly update or revise any forward-looking statement, whether because of new information, future events or otherwise.

For further information, please contact:

Antonio Comparelli, Chief Executive Officer
Email: tc@bnsellit.com
Tel: 416-720-8677

Chris Carmichael, Chief Financial Officer
Email: chrisc@bnsellit.com
Tel: 647-225-4337

About BnSellit Technology Inc.

BnSellit Technology Inc. is a cutting-edge technology company that develops advanced AI platforms for the hospitality industry designed to enhance the guest experience. Our flagship products, BnSellit and Metaguest.AI are comprehensive solutions that addresses all aspects of the guest journey, from pre-arrival to post-departure. Features include on-property e-commerce with electronic payments, real-time in-room service management, mobile check-out, personalized in-room controls, local experience/event bookings, virtual personal concierge and more. Guests engage in over 16 languages, on any connected device and without the need to download an app or visit a web site. By leveraging the platforms, hotels, resorts and short-term rental property owners can improve their operational efficiency, personalize the guest experience, increase revenue and overall customer satisfaction.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/167996