Toronto, Ontario--(Newsfile Corp. - October 8, 2026) - Clip Money Inc. (TSXV: CLIP) ("Clip Money" or the "Company"), a company that operates a multi-bank self-service deposit system for businesses, announces that it intends to continue to pursue its non-brokered private placement of common shares in the capital of the Company ("Common Shares") at a price of CAD$0.144 per Common Share (the "Financing"), the first tranche of which closed on July 8, 2026. The Company is extending the deadline for completing subsequent tranches of the Financing to October 22, 2026.

As previously announced on July 8, 2026, the Company issued 8,686,377 Common Shares to two insiders of the Company in the first tranche of the Financing for gross proceeds of USD$880,500 (or CAD$1,250,838.30). The Company may issue additional Common Shares at a price of CAD$0.144 per Common Share, up to a maximum of 20,000,000 Common Shares (including the 8,686,377 Common Shares previously issued) in connection with subsequent tranches of the Financing. If the maximum number of Common Shares is issued, the total value of the Financing would be CAD$2,880,000. The terms of the Financing remain unchanged.

All Common Shares issued in connection with the Financing will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation in Canada and the requirements of the TSX Venture Exchange. Any participation by insiders of the Company in subsequent tranches would constitute a related-party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions, and the Company expects to rely on exemptions from the formal valuation and minority shareholder approval requirements thereof.

Completion of the Financing remains subject to the approval of the TSX Venture Exchange.

The Company is also pleased to announce the issuance of 1,455,000 restricted share units (the "RSUs") to certain executives and directors to recognize past performance.

All of the RSUs awarded to non-executive directors will vest 12 months after the date of the grant, and all of the RSUs awarded to executives will vest over a three-year period following the date of the grant, with one-third vesting every 12 months. The RSUs will be governed by the terms of the Company's amended and restated omnibus equity incentive plan.

Forward‐Looking Statements

This news release may contain forward‐looking statements (within the meaning of applicable securities laws) which reflect the Company'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 Company's expectations, estimates, forecasts and projections and include, without limitation, statements regarding the completion of subsequent tranches of the Financing and the receipt and approval of the TSX Venture Exchange.

The forward-looking statements in this news release are based on certain assumptions. The forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. 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 Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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

About Clip Money Inc.

Clip operates a multi-bank self-service deposit system for businesses through the Clip Money network that gives users the capability of making deposits outside of their bank branch at top retailers and shopping malls. Rather than having to go to their personal bank branch or using a cash pickup service, businesses can deposit their cash at any ClipDrop Box, ClipATM, or ClipCenter located near them. After being deposited, the funds will automatically be credited to the business' bank account, usually within one business day. The Company combines functional hardware, an intuitive mobile app and an innovative cloud-based transaction engine that maximizes business-banking transactions. Combined with mobile user applications, Clip offers a cost-effective and convenient solution for business banking deposits in metropolitan statistical areas across Canada and the United States. For more information about the Company, visit www.clipmoney.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/318135

Source: Clip Money Inc.