Vancouver, British Columbia–(Newsfile Corp. – May 13, 2022) – Clip Money Inc. (“Clip Money” or the “Company”) and 13842053 Canada Corp. (formerly, 1290451 BC Ltd.) (“138”) are pleased to announce the closing of the previously announced private placement of subscription receipts (the “Subscription Receipts”) of Clip Money at a price of $1.00 per Subscription Receipt (the “Issue Price”) for aggregate gross proceeds of approximately $8.1 million (the “Offering”), which includes a lead order from a strategic investor for $3 million. The Offering was completed in connection with Clip Money’s proposed going public transaction (the “Proposed Transaction”) to be completed by way of amalgamation with 138, which was previously announced on August 6, 2021. It is anticipated that the combined company resulting from the completion of the Proposed Transaction (the “Resulting Issuer”) will be renamed “Clip Money Inc.”, or such other name mutually agreed to by Clip Money and 138 and acceptable to the TSX Venture Exchange (the “TSXV”).