Pool Safe Announces Repayment of Promissory Note and Retirement of Non-Convertible Debentures

Toronto, Ontario--(Newsfile Corp. - May 23, 2025) - Pool Safe Inc. (TSXV: POOL) ("Pool Safe" or the "Company") announces that the Company's subsidiary company, 1974134 Ontario Inc. (the "Subsidiary") has repaid in full the $300,000 short-term Promissory Note (the "Promissory Note") and all accrued interest. As previously announced on March 19, 2025, the Promissory Note had a term of 90 days and bore interest rate at an annual rate of 8%.

Additionally, the Company announces the issuance of 19,950,000 common shares (the "Common Shares") following the exercises of 19,950,000 warrants (the "Warrants") at an exercise price of $0.05 per share. The Warrants exercised were originally issued pursuant to the 2023 Debenture Financing (as defined herein). For detailed information about the Warrants issued, please refer to the Company's news release dated April 17, 2023. The Company also used a portion of the proceeds of the exercise of the Warrants to retire $500,000 of non-convertible debentures, together with accrued interest thereon, issued in a non-brokered private placement in June and July 2023 which raised gross proceeds of $1,140,000 (the "2023 Debenture Financing"). Additional details regarding the 2023 Debenture Financing are available in the Company's news release dated July 6, 2023.

Following the exercise of the Warrants, the Company's total issued and outstanding Common Shares has increased to 133,524,750.

About Pool Safe Inc.

Pool Safe Inc. designs, develops and distributes a product known as LounGenie, which functions as a multipurpose personal poolside attendant. LounGenie by Pool Safe Inc. is designed to provide safety, convenience, and peace of mind for hotels, resorts, waterparks, and cruise ship guests. Conveniently located alongside pool or beach lounge chairs, the LounGenie is a unique way of providing vacationers with a comforting sense of security for their belongings, while offering the vendor opportunities to increase F&B sales, expedite customer service and drive revenue. For more information, please visit loungenie.com or poolsafeinc.com.

Pool Safe Inc. is a fully reporting publicly traded company which is listed on the TSX Venture Exchange under the symbol "POOL". Neither the 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.