Peekaboo Beans Closes Final Tranche of Non-Brokered Private Placement

Vancouver, British Columbia--(Newsfile Corp. - October 5, 2018) - Peekaboo Beans Inc. (CSE: BEAN) (OTCQB: PBBSF) ("Peekaboo Beans" or the "Company") is pleased to announce that it has completed the second and final tranche of its previously announced non-brokered private placement (the "Private Placement"), pursuant to which it has issued an aggregate of 750,000 units (each a "Unit") at a price of $0.20 per Unit for gross proceeds of approximately $150,000. Each Unit was comprised of one common share of the Company (a "Common Share") and one-half of one common share purchase warrant, with each whole warrant exercisable into one Common Share of the Company at a price of $0.30 until October 4, 2020 (a "Warrant"). If at any time during the term of the Warrants the Company has achieved revenues of greater than or equal to $900,000 in any quarterly period as evidenced by the Company's quarterly financial statements then, subject to the Company issuing a press release announcing the acceleration, the Company may give notice to the holders of such Warrants that the Warrants will expire on the date that is 30 days from the date of such notice, provided, however, that that the Company will not be permitted to accelerate the expiry of such Warrants if the acceleration occurs during any applicable four month hold period prescribed by applicable securities laws. Including the proceeds from the first tranche, the Company has raised aggregate gross proceeds of $792,000 through the Private Placement.

All securities issued under the Private Placement, including securities issuable on exercise thereof, are subject to a hold period expiring February 5, 2019.

The Company intends to use the proceeds from the Private Placement for corporate development and general working capital purposes.

About Peekaboo Beans Inc.

Peekaboo Beans is a children's apparel brand with a focus on environmentally responsible clothes that are intentionally designed to inspire play. Through an omni-channel approach, Peekaboo Beans engages sellers through social platforms, including Instagram and Facebook, as well as online retailers, to maximize revenue and build brand loyalty. The Company works to promote a playful lifestyle for children by designing comfortable clothes that are built to last.

To learn more about Peekaboo Beans, visit: www.peekaboobeans.com.

On behalf of the Board of Directors,
Peekaboo Beans Inc. 

Ms. Traci Costa, President and CEO
(604) 279-2326 
traci@peekaboobeans.com

For more information, please contact the Company at:
investors.peekaboobeans.com
1-855-692-3267
ir@peekaboobeans.com

Reader Advisory

This news release may include forward-looking information that is subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking, including statements with respect to the use of proceeds from the Private Placement. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking information include, but are not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

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