KONA BAY TEC : PROVIDES UPDATE ON REVERSE TAKEOVER WITH ASIA INTERACTIVE SERVICES LIMITED

Kona Bay Technologies Inc. ('Kona Bay' or the 'Company') (TSXV: KBY) is providing an update on its previously disclosed reverse takeover transaction ('RTO') with Asia Interactive Services (Hong Kong) Limited ('PropGo') as required by the applicable policies of the TSX Venture Exchange (the 'Exchange').

For additional information with respect to the RTO, refer to the Company news release dated March 14, 2019 which is available on SEDAR. Kona Bay and PropGo continue to work towards completing the RTO by updating timelines for closing the transaction, and drafting, amending and/or updating various RTO agreements including a definitive agreement and filing statement in connection with the transaction. Trading of the common shares of the Company has been halted and will remain halted in accordance with Exchange policies until all required documentation with respect to the RTO has been received and the Exchange is otherwise satisfied that the halt should be lifted. Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Contact:

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Cautionary Statement

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Kona Bay should be considered highly speculative.

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