Kona Bay Technologies Inc. (the 'Company') announces that it has completed its previously announced private placement of 12,000,000 units of the Company (the 'Units') at a price of $0.05 per Unit for gross proceeds of $600,000 (the 'Offering').

Each Unit is comprised of one common share of the Company and one common share purchase warrant, with each such warrant entitling the holder to purchase one additional common share of the Company at $0.055 per share until January 20, 2024.

The Company issued the Units to accredited investors pursuant to the prospectus exemptions set out in National Instrument 45-106 - Prospectus Exemptions. All securities issued in connection with the Offering are subject to a four-month hold period under applicable Canadian securities laws, which hold period will expire on May 21, 2021. The proceeds of the Offering will be used for working capital purposes.

Contact:

Email: relations@konabaytech.com

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