Targeted Microwave Solutions Inc. — Capital/Financing Update 2021

Jul 15, 2021

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Targeted Microwave Solutions Announces $1M Private Placement

VANCOUVER, BC – July 2, 2021. Targeted Microwave Solutions Inc. (the “ Company ” or “ TMS ”), (NEX: TMS.H OTCQB: TGTMF) , is pleased to announce a private placement offering of up to 33,333,333 units (the “ Units ”) of the Company at a price of $0.03 per Unit (the “ Offering ”), with each Unit consisting of one share and one common share purchase warrant (each a “ Warrant ”). Each Warrant will entitle the holder thereof to acquire one common share in the capital of TMS at an exercise price of $0.05 for a period of twelve (12) months from the date of issuance.

The Company intends on completing the Offering pursuant to applicable private placement exemptions and will be made available to existing shareholders and other investors.

The net proceeds of the Offering will be used for current liabilities, fees and commissions in connection with the Offering as well as general working capital and reactivation purposes.

All securities issued pursuant to the Offering are subject to a statutory four month hold period and regulatory approval.

Minimum Price Temporary Relief

The Offering is proceeding pursuant to an application by the Company to the NEX Board of the TSX Venture Exchange (“ NEX ”) for a waiver from the minimum $0.05 price for private placements pursuant to the TSX Venture Exchange bulletin dated April 8, 2020.

The Offering is subject to the approval of the NEX.

On behalf of the Board of Directors,

“Gurminder Sangha ” Director

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward‐looking Statement Advisory: This release may contain forward‐looking statements. Forward‐looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by the forward‐looking statements. Forward looking statements or information relates to, among other things, the size, timing and the completion of the Offering. These forward‐looking statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward‐ looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

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