Filing of Material Contracts in Conjunction with Continuous Disclosure Review

Toronto, Ontario--(Newsfile Corp. - March 22, 2024) - SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) (the "Company", or "SATO") announces it has filed additional documents on SEDAR+ following a routine continuous disclosure review by Staff of the Ontario Securities Commission ("OSC"). During the course of the review, the Company identified that the original loan agreement (the "Loan Agreement") with Sygnum Bank AG ("Sygnum"), signed on July 15, 2022, had not been filed when it should have been, and filed that as a material contract. At the request of the staff of the OSC, the Company has refiled the Loan Agreement and the July 19, 2023, amendment thereto, with certain redactions removed, and has also filed the following additional documents as material contracts on SEDAR+:

1. Terms and Conditions under which the Company supplies computing power to the Foundry USA Pool;
2. Sygnum's General Terms and Conditions, which are incorporated by reference into the Loan Agreement;
3. Sygnum's Custody Regulations for Digital Assets, which are incorporated by reference into the Loan Agreement.

SATO had not previously considered these additional documents to be material contracts but has accepted the view of the OSC that this information should be made available for investors and shareholders to include in their consideration when buying or selling shares of the Company.

The Company is issuing this news release in accordance with OSC Staff Notice 51-711 (Revised) Refilings and Corrections of Errors ("SN 51-711") and will be placed on the public list of Refiling and Errors in accordance with SN 51-711.

For additional information, stakeholders are encouraged to contact our investor relations department.

On behalf of the board,

Romain Nouzareth,
SATO CEO and Chairman

About SATO

SATO, founded in 2017, is a publicly listed company providing efficient computing power. The Company currently operates one center tailored to provide computing power for Bitcoin Mining, but may look to expand or add additional centers for computing power for Bitcoin Mining, High Power Computing ("HPC"), Artificial Intelligence ("AI"), and L2's. The Company is listed on (TSXV: SATO) (OTCQB: CCPUF). To learn more about SATO, visit www.bysato.com.

For additional information, please contact:
Romain Nouzareth
invest@bysato.com
Phone: +1 (450) 756-3636

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary Statement Regarding Forward-Looking Information

This news release contains certain forward-looking statements, including statements relating to the future performance of the Company, and other statements that are not historical facts. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202836