Universal PropTech Inc. Announces Agreement with LuminUltra Technologies to Provide SARS-CoV-2 (COVID-19) Surface Testing

Toronto, Ontario--(Newsfile Corp. - February 9, 2021) - Universal PropTech Inc. (TSXV: UPI) ("UPI" or the "Company") is pleased to announce that is has entered into an agreement on February 5, 2021 with LuminUltra Technologies Ltd. ("LuminUltra") to deploy their GeneCount Rapid SARS-CoV-2 surface testing solution for UPI's current and past customers which total over 2,000 facilities including certain aviation assets in Canada today. The Agreement provides UPI the ability to provide testing services employing LuminUltra's GeneCount® qPCR tests as a service.

Chris Hazelton, President and CEO of UPI commented: "We are very excited to bring LuminUltra's highly reputable SARS-CoV-2 surface testing solution to our customer base in Canada to ensure workplaces are sanitary and safe," Mr. Hazelton continued: "We had committed strategically to expanding our product mix and investing in key technology to enhance our Trusted Advisor status with our customers. Coupled with our recent announcements, the addition of LuminUltra's surface testing technology to our suite of services, we are well on our way to meeting that commitment to customers and shareholders."

UPI's wholly owned operating subsidiary, VCI Controls, will utilize the LimunUltra GeneCount® qPCR test in order to provide audit support for the efficacy of the various indoor air quality equipment it is installing in customer facilities. In this way, VCI Controls will be able to provide clients with data demonstrating the real world effectiveness of the air sanitization equipment it installs, along with peace of mind for owners and staff alike that Covid-19 is not present in their facilities.

LuminUltra provides testing solutions for clinical diagnostics, surface, and wastewater testing. LuminUltra, through its rapid, accurate and portable qPCR tests help safeguard and protect environments by providing verification of disinfection protocols to confirm the absence of the SARS-CoV-2 virus. This helps identify early warning signs which enables the execution of swift response including contact tracing and human testing.

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Fully Portable Manual Testing Using GeneCount® Q-16

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LuminUltra's GeneCount® qPCR COVID-19 testing solutions are comprised of multiple, flexible components that provide a complete laboratory-grade point-of-need solution. The tests yield results in under two hours that are simple to interpret and possess industry leading accuracy and sensitivity. This gold standard testing method applies the same principles used in human clinical tests. Results are achieved without having to be sent to a lab.

LuminUltra serves some of the most well recognized and reputable companies across the globe including ExxonMobil, EcoLab, and Suez among many others.

"We are pleased to be working with the Universal PropTech team," says Pat Whalen, LuminUltra President & CEO. "VCI's experience and long-standing track record is impressive. We're confident that integrating LuminUltra's gold-standard qPCR technology into their offerings for government and aviation facilities will ensure a multi-faceted approach to managing COVID-19."

About Universal PropTech Inc.

Universal PropTech Inc. (TSXV: UPI) is a leading building innovation company, selecting, integrating, deploying, and maintaining PropTech in healthy buildings. As trusted advisors, we provide holistic evidence-driven solutions and services for building developers, owners, and operators in Canada. UPI operates through its wholly owned subsidiary, VCI Controls Inc. ("VCI"), a leading supplier and integrator of PropTech healthy building solutions and services. VCI is an industry leader in the acquisition and deployment of intelligent building technology, including the integration of all building systems utilizing the latest in communications technologies and standards. VCI's business focuses on digital controls and mechanical services, performance monitoring, and energy efficiency solutions.

With headquarters in Toronto, Universal PropTech Inc. has offices across Canada including, Halifax, Montreal, and Ottawa. For more information, visit www.universalproptech.com.

About LuminUltra

Founded in 1995, LuminUltra is a biological diagnostic testing company headquartered in Canada with operations in six countries. It is widely recognized globally as a leader in developing tests and reagents for environmental, industrial, and diagnostic monitoring and is a key supplier of COVID-19 clinical testing reagents to the Government of Canada. Customers in over 80 countries trust LuminUltra's technology, production reliability, and history of customer service excellence to deliver their essential services in a safe-state. At the same time, LuminUltra fosters a culture of innovation and agility and is on an accelerated growth path, acquiring multiple companies in recent years and forming a partnership with the specialized private equity firm XPV Water Partners.

Contact Information

Universal PropTech Inc.
Chris Hazelton
President and Chief Executive Officer
(647) 300-2957

LuminUltra Technologies Ltd
Jessica Stutt
Director of Communications and Marketing
(506) 260-6716

Forward-Looking Statements

Certain information provided in this press release constitutes forward-looking statements and information within the meaning of applicable securities laws. Forward-looking information typically contains statements with words such as "anticipate", "believe", "forecast", expect", "plan", "intend", "estimate", "propose", "project", or similar words suggesting future outcomes. The Company cautions readers and prospective investors in the Company's securities not to place undue reliance on forward-looking information as, by its nature, it is based on current expectations regarding future events that involve a number of assumptions, inherent risks and uncertainties, which could cause actual results to differ materially from those anticipated by the Company.

The forward-looking information included herein is expressly qualified in its entirety by this cautionary statement. The forward-looking information included herein is made as of the date hereof and the Company assumes no obligation to update or revise any forward-looking information to reflect new events or circumstances, except as required by law.

Neither the TSX Venture Exchange ("Exchange"), nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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