VANCOUVER, BC, Feb. 22, 2022 /CNW/ - PeakBirch Logic Inc. (CSE: PKB) (FSE: KYH2) (OTCQB: PKBFF) ("PeakBirch" or the "Company") is pleased to announce that in connection with its proposed acquisition of all of the issued and outstanding shares of Greenlite Crowdfunding Corp. (the "Acquisition") previously announced in its news release on October 29, 2021, PeakBirch will consolidate all of its issued and outstanding common shares ("Common Shares") on the basis of one (1) post-consolidation Common Share for every three point three (3.3) pre-consolidation Common Shares (the "Consolidation"). PeakBirch also announced today that, concurrently with the Consolidation, it will file a notice of alteration to change its name from "PeakBirch Logic Inc." to "PeakBirch Commerce Inc." (the "Name Change"). The Consolidation and Name Change were approved by shareholders of PeakBirch at its special meeting held on December 13, 2021 and are fully described in the Company's management information circular dated November 12, 2021, which can be accessed on the Company's SEDAR profile at www.sedar.com.

Following the Consolidation, PeakBirch will have approximately 51,041,432 Common Shares issued and outstanding. No fractional Common Shares will be issued pursuant to the Consolidation, and each fractional Common Share remaining that is less than 0.5 of a post-Consolidation Common Share will be cancelled and each fractional Common Shares that is at least 0.5 of a post-Consolidation Common Shares will be converted to one whole post-Consolidation Common Share. The change in the number of issued and outstanding Common Shares will not materially affect any shareholder's percentage ownership in PeakBirch, although such ownership will be represented by a smaller number of Common Shares.

The Company does not intend to seek a new stock trading symbol in connection with the Consolidation and Name Change. The Common Shares will continue trading on the Canadian Securities Exchange under the same stock trading symbol "PKB", on the Frankfurt Stock Exchange under "KYH2", and on the OTCQB Venture Market under "PKBFF". Upon completion of the Consolidation and Name Change, the Common Shares will trade under the new CUSIP 70470T100 and ISIN CA70470T1003.

Management of the Company believes that the Consolidation and the Name Change will enhance the Company's liquidity and ability to pursue strategic transactions and other growth opportunities.

Letters of transmittal with respect to the Consolidation and Name Change are being mailed out to the Company's registered shareholders. All registered shareholders will be required to send their share certificates, along with a properly executed letter of transmittal, to the Company's registrar and transfer agent, Odyssey Trust Company, in accordance with the instructions provided in the letter of transmittal. Shareholders who hold their Common Shares through a broker, investment dealer, bank or trust company should contact that nominee or intermediary for assistance in depositing their Common Shares in connection with the Consolidation and Name Change. A copy of the letter of transmittal will be posted on the Company's SEDAR profile at www.sedar.com.

About PeakBirch Logic Inc.

PeakBirch is a data and sales driven technology organization with the goal of constructing a global micro-warehousing network for small businesses. This will enable shop owners to provide same-day delivery services to their customers and manage a pool of inventory within PeakBirch's proprietary A.I. platform and stock registry. We believe in empowering small businesses and fostering a strong community of entrepreneurs to compete within a shifting marketplace. Our innovative technologies will facilitate competition and engage a customer base eager to pivot to American-made products and services.

Information on the Company and its many products and services can be accessed through the links below: www.peakbirch.com

Neither the Canadian Securities Exchange nor its regulations services provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information and Statements

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the cost of goods to be sold under the Company's drop-shipping model, changes in government regulations or enforcement, the ability for the Company to expand its U.S. operations or expand to international markets, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward- looking statements except as required under the applicable laws. This press release contains forward- looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks various risk factors discussed in the Company's listing statement under the Company's profile on www.sedar.com.

SOURCE PeakBirch Logic Inc.

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