VANCOUVER, BC / ACCESSWIRE / July 28, 2022 / Perk Labs Inc. (CSE:PERK)(OTCQB:PKLBF)(FKT:PKLB) ("Perk" or the "Company") today announced financial results for the second quarter ended May 31, 2022.

"In the second quarter of 2022, we laid the technical foundation and made significant strides towards transforming our business from a B2C transaction-based marketplace to a B2B software-as-a-subscription and digital franchise business model," said Jonathan Hoyles, Chief Executive Officer of Perk Labs. "As we look ahead, I am confident that we can grow our revenue as we continue to build innovative technology and help more entrepreneurs digitize their businesses. We believe that even after all the change we witnessed during COVID, we are still at the very beginning of the digitization of bricks-and-mortar businesses and ordering, payment and especially digital loyalty will become more in demand. We are tremendously encouraged by the rate of adoption we are seeing at our early order from table and online ordering customers and the reception to our custom branded app product."

"In this fiscal quarter, the Company achieved numerous milestones including the launch of its new downloadable Merchant App, new mobile feature ‘Order and Pay later', and web-based features for online ordering, pick-up and delivery; as well as worked towards Point of Sales integration." said Vanessa Altamirano, Interim Chief Financial Officer. "We invested in our technology through these initiatives to create value for restaurants and end-users, and we expect to see a continuing increase in customer adoption."

The Company's strategic priorities for 2022 include:

The Company's complete financial results are available in its Consolidated Financial Statements and Management's Discussion and Analysis for the quarter ended May 31, 2022, each filed with Canadian securities regulators at www.sedar.com.

The operational and financial information in this release is based on the consolidated figures in accordance with International Financial Reporting Standard (IFRS).

Perk Labs Inc. is the owner of Perk Hero, the digital franchise company helping businesses transition to the digital economy. Perk Hero provides restaurateurs with friendly and reliable digital ordering, payment and loyalty tools to help them survive and thrive in a difficult economic environment. 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, please contact:

Vanessa Altamirano Interim Chief Financial Officer [email protected] 833-338-0299 [email protected]

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.

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 Perk Labs' business strategies and its expectations concerning future operations, its work towards Point of Sales integration, that we expect to see a continuing increase in customer adoption, confidence that we can grow our revenue as we continue to build innovative technology and help more and more entrepreneurs digitize their businesses, the goal of reaching profitability in the next twelve to eighteen months growing the number of end-user customers, restaurants and franchisees using our platform, expanding our digital franchise program in Canada, and expanding our digital franchise program to the United States. Although Perk Labs 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. For additional information with respect to these and other factors and assumptions underlying the forward-looking statements in this press release, see the section entitled "Risk Factors" in the most recent Annual Information Form and Prospectus of Perk Labs, which may be accessed through Perk Labs' profile on SEDAR at www.sedar.com. Perk Labs cautions investors that any forward-looking information provided by Perk Labs 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.

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