Pool Safe Announces Repayment of Promissory Note and Retirement of Non-Convertible Debentures

Toronto, Ontario--(Newsfile Corp. - May 23, 2025) - Pool Safe Inc. (TSXV: POOL) ("Pool Safe" or the "Company") announces that the Company's subsidiary company, 1974134 Ontario Inc. (the "Subsidiary") has repaid in full the $300,000 short-term Promissory Note (the "Promissory Note") and all accrued interest. As previously announced on March 19, 2025, the Promissory Note had a term of 90 days and bore interest rate at an annual rate of 8%.

Additionally, the Company announces the issuance of 19,950,000 common shares (the "Common Shares") following the exercises of 19,950,000 warrants (the "Warrants") at an exercise price of $0.05 per share. The Warrants exercised were originally issued pursuant to the 2023 Debenture Financing (as defined herein). For detailed information about the Warrants issued, please refer to the Company's news release dated April 17, 2023. The Company also used a portion of the proceeds of the exercise of the Warrants to retire $500,000 of non-convertible debentures, together with accrued interest thereon, issued in a non-brokered private placement in June and July 2023 which raised gross proceeds of $1,140,000 (the "2023 Debenture Financing"). Additional details regarding the 2023 Debenture Financing are available in the Company's news release dated July 6, 2023.

Following the exercise of the Warrants, the Company's total issued and outstanding Common Shares has increased to 133,524,750.

About Pool Safe Inc.

Pool Safe Inc. designs, develops and distributes a product known as LounGenie, which functions as a multipurpose personal poolside attendant. LounGenie by Pool Safe Inc. is designed to provide safety, convenience, and peace of mind for hotels, resorts, waterparks, and cruise ship guests. Conveniently located alongside pool or beach lounge chairs, the LounGenie is a unique way of providing vacationers with a comforting sense of security for their belongings, while offering the vendor opportunities to increase F&B sales, expedite customer service and drive revenue. For more information, please visit loungenie.com or poolsafeinc.com.

Pool Safe Inc. is a fully reporting publicly traded company which is listed on the TSX Venture Exchange under the symbol "POOL". 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.

Forward-Looking Statements

This news release contains forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to the 2022 Debenture Financing and the 2023 Debenture Financing. Such information and statements, referred to herein as "forward-looking statements" are made as of the date of this news release or as of the date of the effective date of information described in this news release, as applicable. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (generally, forward-looking statements can be identified by use of words such as "outlook", "expects", "intend", "forecasts", "anticipates", "plans", "projects", "estimates", "envisages, "assumes", "needs", "strategy", "goals", "objectives", or variations thereof, or stating that certain actions, events or results "may", "can", "could", "would", "might", or "will" be taken, occur or be achieved, or the negative of any of these terms or similar expressions, and other similar terminology) are not statements of historical fact and may be forward-looking statements.

Such forward-looking statements are based on assumptions that may prove to be incorrect, including but not limited to the ability of Pool Safe to reduce its debt and interest obligations over time, the general state of the economy will not materially worsen and Pool Safe is able to sustain its level of sales and earning margins. Pool Safe considers these assumptions to be reasonable in the circumstances. However, there can be no assurance that any one or more of the operational or financial targets as set out herein will be achieved. Inherent in the forward-looking statements are known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements, including risks associated with the failure of Pool Safe to successfully raise capital, Pool Safe's inability to reduce its debt and interest obligations, deterioration in the financial market conditions that prevent Pool safe from raising the required funds in a timely manner and Pool Safes inability to develop and implement a business plan in general and for any reason whatsoever. The forward-looking statements contained herein are current as of the date of this news release. Except as required by law, Pool Safe does not have any obligation to advise any person if it becomes aware of any inaccuracy in or omission from any forward-looking statement, nor does it intend, or assume any obligation, to update or revise these forward-looking statements to reflect new events or circumstances. Any and all forward-looking statements included in this news release are expressly qualified by this cautionary statement, and except as otherwise indicated, are made as of the date of this news release.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

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