Calgary, Alberta – TheNewswire - December 8, 2023 – Impact Analytics Inc. (“Impact Analytics” or the “Company”) (CSE:PACT), an intelligent AI risk assessment, data intelligence and financial services

platform, is pleased to announce that the Company has completed the first tranche of its non-brokered private placement (“Private Placement”) of units (“Units”) for gross proceeds of C$348,000 through the sale of 696,000 Units at a price of C$0.50 per Unit.

Each Unit is comprised of one common share in the capital of the Company (a “Common Share”) and one common share purchase warrant (each a “Warrant”). Each Warrant will be exercisable into one Common Share at a price of C$1.25 per share for two (2) years from the date of issue.

The proceeds from the first tranche of the Private Placement are intended to be used to fund product development and for general working capital purposes. All securities issued pursuant to the Private Placement will be subject to a four month and one day hold period from the date of issue pursuant to National Instrument 45-105 – Prospectus Exemptions. Finders’ fees may be paid in accordance with applicable securities laws and the rules of the Canadian Securities Exchange. The Company expects to close additional tranches under the Private Placement and will update the market on such closings in due course.

The Company also announced that it has engaged the services of Scandinavian Alliance (“Scandinavian Alliance”) to assist in managing brand recognition and awareness, social media strategy and planning, community engagement, social media reporting and other similar services. These services are expected to be provided by Mr. Paul Druce, Managing Partner at Scandinavian Alliance. Scandinavian Alliance’s office address is located at 1203, 12/F, Tower 3, China Hong Kong City, 33 Canton Road, Tsimshatsui, Hong Kong and Mr. Druce can be reached at +46 8 559 26 709 or directors@scandinavianalliance.com. In consideration of the services, the Company has agreed to pay to Scandinavian Alliance an aggregate amount of CAD$110,000 for six (6) months of service commencing December 7, 2023. Scandinavian Alliance does not have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest. Scandinavian Alliance may provide additional services in the future as agreed upon between the parties.

About Scandinavian Alliance

Scandinavian Alliance is a full-service investment relations company working across a variety of market sectors including mining, biotech, pharma, green energy, and SaaS.

About Impact Analytics

Impact Analytics is a financial services company focused on building a AI-powered risk assessment engine to govern and optimize organizational decision making. Our flagship risk assessment model is being designed to disrupt traditional finance in a meaningful way.

ON BEHALF OF THE BOARD OF DIRECTORS

Chief Executive Officer        Eric Entz

Head Office                         1626 Westmount Road NW, Calgary, Alberta T2N 3M1

Telephone                         +1 (587) 208 4044

Email                                 info@impactrisk.ai  

The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Forward-Looking Information

Certain information in this news release may constitute "forward-looking" information that involves known and unknown risks, uncertainties, future expectations and other factors which may cause the actual results, performance or achievements of the Corporation or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward looking information. When used in this news release, this information may include words such as "anticipate", "estimate", "may", "will", "expect", "believe", "plan" and other terminology. This information reflects current expectations regarding future events and operating performance and speaks only as of the date of this news release.

Forward-looking statements in this news release may include, but are not limited to, the future plans of the Corporation, the Private Placement, the closing of future tranches under the Private Placement, Scandinavian Alliance and the services offered by Scandinavian Alliance, business plans, objectives and strategy.

Except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances. Additional information is available in the Corporation’s Management Discussion and Analysis, which can be found on SEDAR+ at www.sedarplus.ca.