Zedcor Inc. Announces Expansion of Credit Facility and Contract for Fixed Monitoring Services

Calgary, Alberta--(Newsfile Corp. - April 27, 2022) - Zedcor Inc. (TSXV: ZDC) (the "Company" or "Zedcor") is pleased to announce that it has entered into an amended and restated Commitment Letter (the "Amended Commitment Letter") with its primary lender which provides for a total of $6.0 million in equipment financing.

The Company is also pleased to announce that it has entered into a contract with North America's largest equipment auction house (the "Customer") to provide fixed monitoring services at its Nisku, Alberta facility for 24 months. Zedcor has also received a verbal commitment from the Customer to use the Company's fixed monitoring services at its 13 remaining locations across Canada, including its location in Montreal, Quebec for which Zedcor is already providing fixed monitoring services with contract terms being negotiated.

Todd Ziniuk, President and CEO of Zedcor, stated: "This additional financing will help us execute our expansion plans for 2022. We are seeing nearly full utilization for our MobileyeZ security tower fleet and demand for our services continues to be robust. Our goal is to ensure we have equipment available to provide security solutions to our customers. Our expansion strategy remains on track with the recent hiring of our VP, National Accounts based in Ottawa, Ontario and we are starting to build demand for our MobileyeZ security towers in Eastern Canada. Our fixed monitoring services continue to gain traction as well, with our customers seeing the value of using technology-based security solutions over the traditional manpower based security model. The contract we signed to provide fixed monitoring services with our prominent Customer has already yielded positive results for them with two burglars arrested at their Montreal location in mid-April. The additional financing positions us well to meet our customer's demand and continue to grow our footprint across Canada."

Zedcor currently has $2.7 million drawn on its equipment financing facility and the Amended Commitment Letter will provide Zedcor with an additional $3.3 million which is immediately available to the Company. Zedcor anticipates it will draw down on the remaining availability prior to the end of 2022 to fund its capital program for the purchase of additional MobileyeZ security towers.

The Amended Commitment Letter did not alter any material terms of the Company's prior loan agreement other than an additional underwriting fee of $15,000, equivalent to 0.5% of the increase in the equipment financing facility. The Company's financing agreement remains secured by the existing general security agreement, which provides for a first charge security interest over the Company's present and future personal property. The Amended Commitment Letter also retains the same financial covenants and standard non-financial provisions under the previous financing agreement.

About Zedcor Inc.

Zedcor Inc. is a Canadian public corporation and parent company to Zedcor Security Solutions Corp. Driven by our guiding principles of being pioneers, innovators and honest, Zedcor is engaged in providing technology based security & surveillance services in Western and Central Canada. The Company is disrupting the security industry with its three main service offerings to customers across all market segments: 1) rental, service and remote monitoring of its proprietary MobileyeZ security towers; 2) live monitoring of fixed site locations; and 3) security personnel. The Company trades on the TSX Venture Exchange under the symbol "ZDC".

Forward-Looking Statements and Information

Certain statements included in this press release constitute forward-looking statements or forward-looking information. Forward-looking statements or information can be identified by terminology such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "budget", "should", "project", or similar words suggesting future outcomes or expectations. In particular, forward-looking statements and information contained in this press release, include, but are not limited to, the expansion of Zedcor's Security and Surveillance business, fleet expansion, marketing of security services and expansion of Zedcor's service offering to other geographic regions. Although the Company believes that the expectations implied in such forward-looking statements or information are reasonable, undue reliance should not be placed on these forward-looking statements or information because the Company can give no assurance that such statements or information will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of assumptions about the future and uncertainties, including current forecasts and utilization. Although management of the Company believes these expectations and assumptions reflected in these forward-looking statements or information to be reasonable, there can be no assurance that any forward-looking statements or information will be proved to be correct, and actual results may differ materially from those anticipated in such statements or information. For this purpose, any statements or information contained herein that are not statements or information of historical fact may be deemed to be forward-looking statements or information and readers should not place undue reliance on such forward-looking statements or information. The forward-looking statements or information contained in this press release are made as of the date hereof and the Company assumes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new contrary information, future events or any other reason, unless the Company is required by any applicable securities laws. The forward-looking statements or information contained in this press release are expressly qualified by this cautionary statement.

For further information contact:

Todd Ziniuk
President & Chief Executive Officer
P: 403-930-5430
E: tziniuk@zedcor.ca

Amin Ladha
Chief Financial Officer
P: 403-930-5435
E: aladha@zedcor.ca

Neither 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.

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