Xtract One Announces Marketed Public Offering of Units and Concurrent Investment by Strategic Partner - Seite 2

Closing of the Concurrent Private Placement is expected to occur concurrently with the closing of the Offering and is subject to certain conditions including, but not limited to, the concurrent completion of the Offering and the receipt of all necessary regulatory approvals, including the approval of the TSX. Closing of the Offering is not conditional on the closing of the Concurrent Private Placement.

The Concurrent Private Placement with MSG Sports will constitute a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Concurrent Private Placement by MSG Sports will not exceed 25% of the market capitalization of the Company in accordance with MI 61-101.

Xtract One intends to use the proceeds of the Offering and the Concurrent Private Placement for working capital and general corporate purposes.

Prospective investors should read the Shelf Prospectus, the Prospectus Supplement, once filed, and the documents incorporated by reference therein before making an investment decision. Copies of the Shelf Prospectus and the Prospectus Supplement, following filing thereof, are, or will be, as applicable, available on the Company's SEDAR+ profile at www.sedarplus.ca.

No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “1933 Act”) and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements of the 1933 Act, and applicable state securities laws.