BnSellit Technology Inc. Announces Q2 Revenue Growth

Toronto, Ontario--(Newsfile Corp. - July 5, 2023) - BnSellit Technology Inc. (CSE: BNSL) (the "Corporation"), through its MetaGuest.AI platform, is a cutting-edge technology company that develops advanced Generative Artificial Intelligence platforms for the hospitality industry designed to enhance the guest experience. The Corporation is pleased to provide an update on revenues for the period ending June 30, 2023.

Financial Highlights (unaudited)

• The Corporation defines Annualized Recurring Revenue (ARR), a non-IFRS metric, as the annualized recurring revenue expected, based on trailing monthly revenue, for its Metaguest.Ai services;

• BNSL ARR rose to $363,672 as at June 30, 2023 up from $173,412 as at March 31, 2023;

• Monthly recurring subscription revenue increasing from $16,130 in April to $26,509 in May and $30,306 in June 2023;

Tony Comparelli, CEO and Director commented, "We continue to see incredible revenue growth in hotels currently utilizing the Metaguest.Ai platform. The increasing number of guests engaging with Metaguest.Ai during their stay is contributing to the platform's evolving intelligence, significantly impacting revenue-generating transactions for hotels, their partners, and BNSL. Additionally, we are delighted to witness a tremendous level of interest from hotels seeking to adopt the Metaguest.Ai platform. This is exemplified by the recent signing of the two largest hotels in Manhattan in the latest quarter of 2023, which collectively offer nearly 2,000 rooms."

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/172354