Including PopReach, the combined companies delivered $19.1 million of first-quarter 2022 revenue, representing 22% year-on-year growth, and adjusted EBITDA¹ of $1.9 million

TORONTO, May 31, 2022 /CNW/ – PopReach Company (“PopReach“or the”Company“) (TSXV: POPR) (OTCQX: POPRF) is, following its press release dated April 28, 2022 concerning the business combination (the “Transaction“) of PopReach with 2810735 Ontario Inc. d/b/a Federated Foundry (“Federated” and with PopReach, the “Parties“), is pleased to provide an update on certain unaudited pro forma consolidated financial information for the combined parties for the three months ended March 31, 2022 and March 31, 2021. The selected unaudited pro forma financial information presented includes PopReach’s financial information for the applicable periods, as previously reported and filed on www.sedar.com.

(All figures are in US dollars unless otherwise stated)

Unaudited pro forma consolidated financial information

The following table sets forth certain unaudited pro forma consolidated financial information for the combined businesses of PopReach and Federated if: 1) the transaction had been completed at the beginning of the three-month periods ended March 31, 2021 and March 31, 2022; and 2) Federated had acquired Notify AI, LLC (“Notify AI”), Q1Media, Inc. (“Q1Media”) and Crucial Interactive Holdings Inc. (“Contobox”), at the beginning of the same periods.

Non-IFRS Measures

The Company prepares its financial statements in accordance with IFRS. However, the Company considers certain non-IFRS financial measures to be useful supplemental information in evaluating its financial performance. These measures, which it believes are widely used by investors, securities analysts and other interested parties to assess its performance, do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similarly titled measures presented by other publicly traded companies, nor should they be construed as an alternative to financial measures determined in accordance with IFRS. Non-IFRS measures include “Reservations”, “EBITDA” and “Adjusted EBITDA”.

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EBITDA and Adjusted EBITDA

Earnings before interest, taxes, depreciation and amortization (“EBITDA”) and consolidated earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) are non-IFRS measures of financial performance. Presentation of these non-IFRS financial measures is not intended to be considered in isolation from, as a substitute for, or superior to financial information prepared and presented in accordance with IFRS, and may differ from non-IFRS financial measures used by companies. other companies. Company management defines EBITDA as follows: Net income (loss) under IFRS adding accretion and interest expense (including amortization of deferred financing costs), income taxes income, amortization, gain/loss on disposal of assets and gain/loss on fair value of financial liabilities. Adjusted EBITDA is calculated as EBITDA and excludes discontinued operations and the effects of significant revenue and expense items that may impact earnings quality, such as restructuring costs and impairments where impairment is the result of an isolated and non-recurring event. an event. It also excludes the effects of equity-settled share-based payments, changes in deferred income and other extraordinary one-time expenses. See the reconciliation of EBITDA and Adjusted EBITDA under “Adjusted EBITDA” below.

Management believes that EBITDA and Adjusted EBITDA are useful financial measures for evaluating its operating performance on a cash basis before the impact of non-recurring non-cash and exceptional items.

The following table shows the calculation of the Company’s EBITDA and Adjusted EBITDA for each period:

About PopReach Corporation

PopReach, a Tier 1 issuer on the TSX Venture Exchange, whose shares also trade on OTCQX® Best Market, is a multi-platform technology company focused on acquiring, optimizing and growing businesses and assets who provide services, technologies or products in digital media. ecosystem. The company’s portfolio includes: PopReach Games, a free-to-play mobile game publisher with over 25 games enjoyed by millions of gamers; notifyAI, a push notification subscription and monetization platform; Q1Media, a provider of digital media advertising services; and Contobox, an award-winning personalization, e-commerce and creative advertising technology platform.

Additional information about the Company is available at www.sedar.com.

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.

Caution Regarding Forward-Looking Information

This press release contains “forward-looking information” within the meaning of Canadian securities laws. Forward-looking information generally refers to information about the business, capital, or operations of an issuer that is forward-looking in nature and includes forward-looking financial information about the issuer’s prospective financial performance or financial condition.

PopReach has made certain important assumptions, including, but not limited to: prevailing market conditions; general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the Resulting Issuer’s ability to execute and achieve its business objectives, developing the forward-looking information contained in this press release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Actual results may differ from the forward-looking information contained in this press release due to certain material risk factors. These risk factors include, but are not limited to: adverse market conditions; the unavailability of exemptions from the prospectus requirements for the issuance of common stock of PopReach; risks associated with the marketing and sale of PopReach common stock; refusal of proposed directors or officers to act for any reason, including conflict of interest; dependence on key and qualified personnel; and regulatory and other risks associated with the technology, media and digital gaming industries generally. The above list of material risk factors and assumptions is not exhaustive.

PopReach undertakes no obligation to update or revise any forward-looking information contained in this press release, except as required to do so under Canadian securities laws.

SOURCE PopReach Corporation

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