NowVertical Announces Closing of an Initial Tranche of a $15.1 Million Brokered Private Placement and Appointment of Kingsley Ward and Andre Garber to the Board of Directors

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TORONTO, Oct. 20, 2026 (GLOBE NEWSWIRE) — NowVe tical G oup I c. (TSXV: NOW) (the “Compa y” o  “NowVe tical”) is pleased to a ou ce today that it has closed the U it (as defi ed below) po tio of its p eviously a ou ced “best effo ts” p ivate placeme t offe i g fo agg egate g oss p oceeds of up to $15,100,000 (the “Offe i g”). The U it po tio of the Offe i g (the “I itial T a che”) closed today fo agg egate g oss p oceeds of $5,100,000. Cla us Secu ities I c. is acti g as sole age t a d book u e (the “Age t”) i espect of the Offe i g.  

I additio , the Compa y has eceived bi di g subsc iptio ag eeme ts fo the Co ve tible Debe tu e U it (as defi ed below) po tio of the Offe i g (the “Seco d T a che”), which will be fo agg egate g oss p oceeds of $10,000,000 a d is expected to close i the comi g days.

I co ectio with the closi g of the I itial T a che of the Offe i g (the “Closi g”), the Compa y is pleased to a ou ce the appoi tme t of its Chief Executive Office , A d e Ga be , to the boa d of di ecto s of the Compa y, alo gside J.R. Ki gsley Wa d, who has bee appoi ted Executive Chai of the boa d of di ecto s of the Compa y. The Compa y also a ou ces the esig atio of David Cha o f om the boa d of di ecto s, who will be devoti g mo e time to his executive obligatio s.

The Compa y exte ds its si ce e app eciatio to M . Cha o fo his se vice a d valuable co t ibutio s to the Compa y a d wishes him co ti ued success i his futu e e deavou s.

“O behalf of the boa d of di ecto s, I am ve y pleased to welcome J.R. Ki gsley to the boa d,” said Elai e Ku da, Chai of the boa d of di ecto s of NowVe tical. “Ki gsley’s deep capital ma kets expe tise a d decades of expe ie ce st uctu i g a d mo etizi g i vestme ts will be of g eat use to the Compa y as we execute ou g owth st ategy. I am also delighted to have A d e ejoi the boa d. As a co-fou de a d ou Chief Executive Office , A d e b i gs a u matched u de sta di g of ou busi ess, a d his pe spective will be i valuable to the boa d’s wo k. I would also like to tha k David fo his dedicated se vice a d valuable co t ibutio s to NowVe tical du i g his time o the boa d, a d we wish him eve y success i his futu e e deavo s.”

M . Ga be is a co-fou de of the Compa y a d cu e tly se ves as its Chief Executive Office . He was p eviously the Compa y’s I te im Chief Executive Office as of Ju e 2026 a d, p io to that, he held the ole of the Compa y’s Chief Developme t Office . Si ce the fou di g of the Compa y, M . Ga be has led the Compa y’s me ge s a d acquisitio s a d acquisitio fi a ci g p og ams. M . Ga be is a lawye with expe ie ce i co po ate fi a ce a d M&A. P io to co-fou di g NowVe tical, he was a Pa t e at a leadi g atio al law fi m, whe e his p actice focused o wo ki g with sta t-up a d ea ly-stage compa ies. He holds a Ju is Docto f om the U ive sity of Wi dso a d a Bachelo of A ts f om Rye so U ive sity ( ow To o to Met opolita U ive sity).

M . Wa d b i gs ove 30 yea s of expe ie ce i itiati g, st uctu i g a d mo etizi g p ivate equity i vestme ts. He bega his ca ee at the head office of his family’s g oup of compa ies, Vimy Ridge G oup I vestme ts I c., whe e he cu e tly se ves as Chai ma . M . Wa d is also a Ma agi g Pa t e at VRG Capital a d se ves as Chai ma of DATA Commu icatio s Ma ageme t Co p. (TSX: DCM), o e of Ca ada’s la gest ma keti g a d b a d ma ageme t busi esses, a d as a di ecto of Domi io Le di g Ce t es I c. (TSX: DLCG), Ca ada’s leadi g etwo k of mo tgage p ofessio als. P eviously, M . Wa d se ved as Executive Chai ma of TRUBAR I c., a co sume -packaged goods a d b a d ma keti g compa y, a d as a di ecto a d Chai ma of HEALWELL AI I c., a healthca e tech ology compa y focused o a tificial i tellige ce a d data scie ce fo p eve tative ca e. Th oughout his ca ee , he has also se ved o the boa ds of ume ous othe public a d p ivate compa ies.

I co ectio with the I itial T a che, the Compa y issued 42,500,000 u its of the Compa y (the “U its”) at a p ice of $0.12 pe U it, fo g oss p oceeds of $5,100,000. Each U it is comp ised of o e Class A Subo di ate Voti g Sha e i the capital of the Compa y (each, a “Commo Sha e”) a d o e-half of o e Commo Sha e pu chase wa a t (each whole wa a t, a “U it Wa a t”). Each U it Wa a t e titles the holde to acqui e o e (1) Commo Sha e at a p ice of $0.20 fo 24 mo ths followi g the Closi g.

The Seco d T a che of the Offe i g is expected to close i the comi g days a d to be comp ised of 10,000 co ve tible debe tu e u its of the Compa y (the “Co ve tible Debe tu e U its”), fo g oss p oceeds of $10,000,000. Each Co ve tible Debe tu e U it will be comp ised of $1,000 p i cipal amou t of 10% se io u secu ed co ve tible debe tu es (the “Co ve tible Debe tu es”) of the Compa y a d 2,500 Commo Sha e pu chase wa a ts (each, a “Debe tu e Wa a t”). The Co ve tible Debe tu es shall matu e o the date that is 36 mo ths followi g the closi g of the Seco d T a che a d shall be co ve tible i to Commo Sha es, at the holde s’ optio , at a p ice of $0.20 pe Commo Sha e. Each Debe tu e Wa a t e titles the holde to acqui e o e (1) Commo Sha e at a p ice of $0.25 fo 36 mo ths followi g the closi g of the Seco d T a che. The Compa y shall have the ight to satisfy the payme t of i te est payable eithe i cash o Commo Sha es at a p ice equal to the Ma ket P ice (as defi ed u de the policies of the TSX Ve tu e Excha ge) as at the date the i te est becomes due a d payable.

The Compa y i te ds to use the et p oceeds of the Offe i g to st e gthe its bala ce sheet, suppo t the executio of its g owth st ategy a d fo wo ki g capital a d ge e al co po ate pu poses.

I co ectio with the Fi st T a che Te az Fu d (“Te az”) subsc ibed fo 25,000,000 U its fo p oceeds of $3,000,000. The acquisitio by Te az will esult i Te az bei g deemed a i side of the Compa y. Acco di gly, Te az’s subsc iptio i espect of 15,833,334 U its of such 25,000,000 U its closed i esc ow pe di g clea a ce of the equi ed Pe so al I fo matio Fo ms by the TSXV. Spa ta Fu d Ma ageme t I c. is the po tfolio ma age a d t ustee of Te az. Post Closi g, assumi g the elease of the U its f om esc ow, Te az will hold 27,697,000 Commo Sha es a d 12,500,000 U it Wa a ts ep ese ti g 19.90% of the issued a d outsta di g Commo Sha es o a u diluted basis a d 26.50% o a pa tially diluted basis (assumi g the exe cise of the U it Wa a ts held by Te az). The i de tu e gove i g the U it Wa a ts p ohibits the exe cise of the U it Wa a ts if such exe cise would esult i the c eatio of a co t ol pe so of the Compa y u less Compa y sha eholde app oval is obtai ed i acco da ce with TSXV policies.

I co side atio fo the Age t’s se vices i co ectio with the I itial T a che, the Age t eceived a cash commissio of $102,925. I additio , the Compa y issued to the Age t 1,193,500 o -t a sfe able b oke wa a ts (each, a “B oke Wa a t”). Each B oke Wa a t is exe cisable to acqui e o e U it at a p ice of $0.12 pe U it fo a pe iod of 24 mo ths f om the Closi g.

Ce tai di ecto s, office s a d thei affiliates pa ticipated i the I itial T a che i the amou t of 554,164 U its a d have e te ed i to subsc iptio ag eeme ts pu sua t to which they will acqui e 616 Co ve tible Debe tu e U its i co ectio with the Seco d T a che. Pa ticipatio i the Offe i g by i side s of the Compa y co stitutes a “ elated pa ty t a sactio ” withi the mea i g of Multilate al I st ume t 61-101 – P otectio of Mi o ity Secu ity Holde s i Special T a sactio s (“MI 61-101”). The issua ce of secu ities to i side s of the Compa y is exempt f om the valuatio equi eme t of MI 61-101 by vi tue of the exemptio co tai ed i sectio 5.5(b) as the Compa y’s sha es a e ot listed o a specified ma ket a d f om the mi o ity sha eholde app oval equi eme ts of MI 61-101 by vi tue of the exemptio co tai ed i sectio 5.7(a) of MI 61-101, i that the fai ma ket value of the co side atio of the secu ities issued to the i side s of the Compa y does ot exceed twe ty-five pe ce t of the Compa y’s ma ket capitalizatio . The Compa y did ot file a mate ial cha ge epo t at least 21 days i adva ce of the Closi g as the pa ticipatio of such di ecto s, office s a d thei affiliates i the Offe i g had ot bee co fi med at that time.

All secu ities issued i the I itial T a che a e subject to a hold pe iod expi i g fou mo ths a d o e day f om the Closi g.

This ews elease does ot co stitute a offe to sell o a solicitatio of a offe to buy a y secu ities i the U ited States o a y othe ju isdictio i which such offe , solicitatio o sale would be u lawful. The secu ities have ot bee a d will ot be egiste ed u de the U ited States Secu ities Act of 1933, as ame ded (the “U.S. Secu ities Act”), o a y state secu ities laws. No secu ities may be offe ed o sold to, o fo the accou t o be efit of pe so s i the U ited States o to a y U.S. pe so s o i a y othe ju isdictio i which such offe o sale would be u lawful abse t egist atio u de the U.S. Secu ities Act, a d a y applicable state secu ities laws o a exemptio the ef om o qualificatio u de the secu ities laws of such othe ju isdictio o a exemptio the ef om. “U ited States” a d “U.S. pe so s” shall have the mea i g give to them i Regulatio S u de the U.S. Secu ities Act.

About NowVe tical G oup I c.

NowVe tical is a global data a d a alytics compa y which helps clie ts t a sfo m data i to ta gible busi ess value with AI, fast. Offe i g a comp ehe sive suite of solutio s a d se vices, the Compa y e ables clie ts to quickly ha ess the full pote tial of thei data, d ivi g measu able outcomes a d accele ati g pote tial etu o i vestme t. E te p ises optimize decisio -maki g, imp ove ope atio al efficie cy, a d u lock lo g-te m value f om thei data usi g the Compa y’s AI-i fused fi st-pa ty a d thi d-pa ty tech ologies. The Compa y’s scalable AI-i fused delive y model e ables the busi ess to efficie tly delive data, a alytics a d AI solutio s a d se vices ac oss i dust ies a d geog aphies.

Cautio a y Stateme ts

This ews elease may co tai fo wa d-looki g stateme ts a d fo wa d-looki g i fo matio (collectively, “fo wa d-looki g stateme ts”) withi the mea i g of applicable secu ities laws which eflect the Compa y’s cu e t expectatio s ega di g futu e eve ts. All stateme ts i this ews elease that a e ot pu ely histo ical stateme ts of fact a e fo wa d-looki g stateme ts, i cludi g stateme ts with espect to the Offe i g, i cludi g the i te ded use of p oceeds a d expectatio s ega di g the size a d timi g of closi g of the Seco d T a che, the Compa y’s futu e busi ess pla s a d the clea a ce of pe so al i fo matio fo ms by the TSXV. Although the Compa y believes that such stateme ts a e easo able a d eflect expectatio s of futu e developme ts a d othe facto s which ma ageme t believes to be easo able a d eleva t, the Compa y ca give o assu a ce that such expectatio s will p ove to be co ect. Fo wa d-looki g stateme ts i this ew elease a e based o va ious assumptio s, i cludi g that the TSXV will app ove the Offe i g, assumptio s with espect to the closi g of the Seco d T a che a d that the isk facto s efe ed to below, collectively, do ot have a mate ial impact o the Compa y’s busi ess, ope atio s, eve ues a d/o esults. Fo wa d-looki g stateme ts a e ofte , but ot always, ide tified by the use of fo wa d-looki g wo ds such as “may”, “should”, “will”, “could”, “i te d”, “estimate”, “pla ”, “a ticipate”, “expect”, “believe” o “co ti ue”, o the egative the eof o simila va iatio s. Fo wa d-looki g stateme ts i volve k ow a d u k ow isks, u ce tai ties a d othe facto s that may cause futu e esults, pe fo ma ce, o achieveme ts to be mate ially diffe e t f om the estimated futu e esults, pe fo ma ce o achieveme ts exp essed o implied by the fo wa d-looki g stateme ts. Such isks i clude, but a e ot limited to, isks elated to the global eco omic, ma ket a d busi ess co ditio s; gove me tal a d egulato y equi eme ts a d actio s by gove me tal a d quasi-gove me tal autho ities; isks elated to a tificial i tellige ce (AI) a d those isks discussed u de the headi g “Risks a d U ce tai ties” i the Compa y’s most ece t Ma ageme t’s Discussio a d A alysis a d its othe disclosu e docume ts filed o its SEDAR+ p ofile at www.seda plus.com. Fo wa d-looki g stateme ts a e p ovided fo the pu pose of p ovidi g i fo matio about ma ageme t’s expectatio s, beliefs a d pla s elati g to the futu e a d a e ot gua a tees of futu e pe fo ma ce a d u due elia ce should ot be placed the eo , as u k ow o u p edictable facto s could have mate ial adve se effects o futu e esults, pe fo ma ce o achieveme ts of the Compa y. Should o e o mo e of these isks o u ce tai ties mate ialize, o should assumptio s u de lyi g the fo wa d-looki g stateme ts p ove i co ect, actual esults may va y mate ially f om those desc ibed he ei as i te ded, pla ed, a ticipated, believed, estimated o expected.

All of the fo wa d-looki g stateme ts co tai ed i this ews elease a e qualified by the fo egoi g cautio a y stateme ts, a d the e ca be o gua a tee that the esults o developme ts that the Compa y a ticipates will be ealized o , eve if substa tially ealized, that they will have the expected co seque ces o effects o the Compa y’s busi ess, fi a cial co ditio o esults of ope atio . U less othe wise oted o the co text othe wise i dicates, the fo wa d-looki g stateme ts co tai ed he ei a e p ovided as of the date he eof, a d the Compa y does ot i te d, a d does ot assume a y obligatio , to update the fo wa d-looki g stateme ts except as othe wise equi ed by applicable law.

Fu the I fo matio Fo fu the details about NowVe tical, please visit www. owve tical.com o co tact:

NowVe tical G oup I c.A d e Ga be Chief Executive Office Telepho e: 647-947-0223Email: IR@ owve tical.com

Neithe the TSX Ve tu e Excha ge o its Regulatio Se vices P ovide (as that te m is defi ed i the policies of the TSX Ve tu e Excha ge) accepts espo sibility fo the adequacy o accu acy of this ews elease. No stock excha ge, secu ities commissio o othe egulato y autho ity has app oved o disapp oved the i fo matio co tai ed he ei .