NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated February 17, 2021 to its short form base shelf prospectus dated July 17, 2020.

VANCOUVER, BC / ACCESSWIRE / March 29, 2022 / Perk Labs Inc. (CSE:PERK / OTCQB:PKLBF / FKT:PKLB) ("Perk" or the "Company"), the digital franchise company helping businesses transition to the digital economy, is pleased to announce that it has closed the first tranche (the "First Tranche") of the previously announced non-brokered private placement of the Company (the "Private Placement").

In the First Tranche, subscribers purchased 7,374,645 Units for aggregate gross proceeds of $309,736. Directors and officers of the Company subscribed for 476,190 of the Units. Each Unit is comprised of one common share and one warrant. Each whole warrant will entitle the holder thereof to purchase one common share at a price of $0.05, for a period of twenty-four months from the closing of the First Tranche.

All securities issued pursuant to the Private Placement will be subject to a statutory hold period of four months and one day. The Company intends to complete additional closings until the earlier of the Private Placement being fully subscribed, and April 8, 2022. It is expected that there will be additional participation from the Company's board of directors in a subsequent tranche.

Proceeds from the First Tranche will be used for marketing and awareness campaigns and for general working capital purposes.

About Perk Labs Inc.

Perk Labs Inc. (CSE:PERK) (OTCQB:PKLBF) (FKT:PKLB) is the owner of Perk Hero, the mobile commerce platform on a mission to empower business owners with the digital tools to provide their customers with dining experiences that are more engaging, convenient and rewarding. Perk Hero is growing through a unique community-driven digital franchise business that is available to entrepreneurs at an attractive start-up price.

For more information about Perk Labs, please visit www.perklabs.io. Visit Perk Hero at www.perkhero.com.

For more information on a Perk Franchise, visit www.perkfranchise.com.

For more information contact:

Jonathan Hoyles
CEO
Perk Labs Inc.
(833) 338-0299
investors@perklabs.io

Jules Gagnon
Director of Investor Relations & Community
(833) 338-0299 investors@perklabs.io

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "may", "believe", "thinks", "expect", "exploring", "expand", "could", "anticipate", "intend", "estimate", "plan", "pursue", "potentially", "projected", "should", "will" and similar expressions, or are those, which, by their nature, refer to future events. These forward-looking statements, which involve risks and uncertainties, relate to, among other things, the discussion of the Company's business strategies and its expectations concerning future operations, including statements regarding the Private Placement, the expected use of proceeds therefrom and subsequent tranches. Although the Company considers these forward-looking statements to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties, and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance and that actual results may differ materially from those in forward-looking statements. Undue reliance should not be placed on such forward-looking information, as there can be no assurance that the plans, intentions, or expectations upon which they are based will occur.

SOURCE: Perk Labs Inc.