Darelle Online Solutions Inc. — Earnings Release 2024

Jan 29, 2024

News

FOR IMMEDIATE RELEASE

DARELLE ANNOUNCES FINANCIAL RESULTS

Vancouver, B.C. – January 29, 2024 – Darelle Online Solutions Inc. (“ darelle ” and/or the “ Company ”) (TSXV: “DAR”) today released its interim financial results for the three-month period ended November 30, 2023.

The full text of darelle’s first quarter financial results is contained in its unaudited condensed interim consolidated financial statements for the three-month periods ended November 30, 2023 & 2022 and the related management’s discussion and analysis, copies of which are available electronically on darelle’s profile on the System for Electronic Document Analysis and Retrieval (“ SEDAR ”) at https://www.sedarplus.ca/darelle

Annual Financial Results

• The Company generated revenue of $27,643 during the period compared with $8,694 during the same three-month period in 2022. Revenue is comprised of a set-up fee and a flat administration fee (“Processing Fees) per raffle ticket sold by organizations. The Company realized set-up fees of $3,750 with the remaining revenue ($23,893) in processing fees. Processing fees are recognized once the raffle draw is complete and/or the organization has sold all available tickets.

• The Company reported a comprehensive loss of $21,780 ($0.00 per share) compared to a comprehensive loss of $48,296 during the three-month period ended November 30, 2022 ($0.00 per share).

Operational Update

The Company continues to look at opportunities to expand the geographical scope of the darelle.com platform. Currently the Company only operates in the province of British Columbia. Opportunities for expansion include the provinces of Manitoba, Saskatchewan, Alberta, Nova Scotia, and Ontario. The Company is also reviewing opportunities for expansion into the United States. Expansion will be dependent upon the Company securing a strategic partner and/or equity financing.

The Company also continues to seek opportunities to create shareholder value through strategic acquisitions and/or transactions.

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About Darelle Online Solutions Inc.

Darelle Online Solutions Inc. is a British Columbia corporation with its head office in Vancouver, British Columbia. Darelle.com is an online marketplace which has developed a platform in which charitable and nonprofit organizations can create, sell, deliver, and manage their raffle ticket and 50/50 draws completely online. The Company is listed on the TSX Venture Exchange as a Tier 2 Technology Issuer. The Company has a total of 73,708,147 common shares issued and outstanding.

Additional information on the company can be found at www.darelle.com

For Further Information, Contact:

Dean Bethune President & CEO Phone (778) 840-3325 Email: dbethune@darelle.com

Certain statements in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, as well as other factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release.

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release .

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