POSaBIT Applies to List Common Shares on the TSXV

TORONTO--(BUSINESS WIRE)--POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF) (the "Company" or "POSaBIT"), a leading provider of payments infrastructure in the cannabis industry, is pleased to announce that it has filed its application to list the Company's common shares (the "Common Shares") on the TSX Venture Exchange (the "TSXV").

"I am pleased to announce that we have officially filed our application to list on the TSXV,” said Ryan Hamlin, CEO and Co-Founder of POSaBIT. “This is the natural continuation of our plan and commitment to our shareholders to expose POSaBIT to a larger market of investors in the US, Canada and abroad. I am excited at the possibility of facilitating ownership and improving trading liquidity, in addition to potential index and ETF inclusion."

The listing of the Common Shares on the TSXV remains subject to the review of the TSXV and is contingent on the satisfaction of all listing and regulatory requirements. There is no assurance that the TSXV will approve the listing application or that the Company will complete the listing on the TSXV as currently proposed.

ABOUT POSABIT

POSaBIT (CSE: PBIT, OTC: POSAF) is a FinTech, working exclusively within the cannabis industry. We provide a best-in-class Point-of-Sale solution and are the leading cashless payment provider for cannabis retailers. We work tirelessly to build better financial services and transaction methods for merchants. We bring cutting-edge software and technology to the cannabis industry so that all merchants can have a safe and compliant set of services to solve the problems of a cash-only industry. For additional information, visit www.posabit.com.

Neither the Canadian Securities Exchange nor the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

This press release contains forward-looking statements, including statements regarding our expectations around business strategy, financing events and courses of action. Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as "anticipate," "objective," "may," "will," "might," "should," "could," "can," "intend," "expect," "believe," "estimate," "predict," "potential," "plan," "is designed to" or similar expressions suggesting future outcomes or the negative thereof or similar variations, including the completion of the proposed listing on the TSXV. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements, including business, economic and capital market conditions; the ability to manage our operating expenses, which may adversely affect our financial condition; regulatory uncertainties; market conditions and the demand and pricing for our products; and our relationships with our customers, stakeholders, distributors and business partners.

Neither we nor any of our representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither we nor any of our representatives shall have any liability whatsoever, under contract, tort, trust or otherwise resulting from the use of the information in this news release or for omissions from the information in this news release.