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HIT Technologies Inc. Closes First Tranche of Private Placement

VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 05/16/16 — HIT Technologies Inc. (the “Company”) (TSX VENTURE: HIT) is pleased to announce that it closed the first tranche of its non-brokered private placement (the “Offering”) of units (the “Units”), raising aggregate gross proceeds to the Company of $880,000.

At the Closing, the Company issued an aggregate of 17,600,000 Units at a subscription price of $0.05 per Unit. Each Unit is comprised of one common share in the capital of the Company (each, a “Common Share”) and one-half of one common share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder to acquire one Common Share at an exercise price of $0.07 for a period of 18 months from the date of the closing of the first tranche of the Offering (the “Closing”), provided that in the event that the Common Shares trade at or above $0.15 for 10 consecutive trading days on the TSX Venture Exchange or exceed a volume weighted average price of $0.15 during a consecutive 30-day period, the Company will have the right to accelerate the expiry of the Warrants by providing 30 days– prior written notice to the Warrant holders of such expiry. The Common Shares and Warrants comprising the Units issued as part of the first tranche of the Offering, as well as any Common Shares issued upon exercise of Warrants, will be subject to a four-month hold period which will expire on September 14, 2016.

An aggregate finder–s fee of $70,400 in cash and 1,408,000 finder–s warrants (“Finder–s Warrants”) was paid to Gravitas Securities Inc. (“GSI”), Haywood Securities Inc., Canaccord Genuity Corp. and Raymond James Ltd. for services they provided to the Company in connection with certain subscriptions under the first tranche of the Offering. Each Finder–s Warrant entitles the holder to acquire one Unit at an exercise price of $0.05 for a period of 18 months from the date of the Closing. The Finder–s Warrants and the Common Shares and Warrants comprising any Units issued upon exercise of Finder–s Warrants will be subject to a four-month hold period which will expire on September 14, 2016.

GSI also acted as a financial advisor to the Company with respect to the Offering pursuant to an advisory agreement dated April 15, 2016 between GSI and the Company. Pursuant to such advisory agreement, the Company issued an aggregate of 1,000,000 Common Shares to GSI at a deemed price of $0.05 per Common Share in consideration for past advisory services provided by GSI to the Company up to and as of the date of the advisory agreement. The Common Shares issued to GSI will be subject to a four-month hold period which will expire on September 14, 2016.

The Company received conditional acceptance of the Offering from the TSX Venture Exchange. The Company anticipates closing a second tranche of the Offering with respect to any additional subscriptions of Units received by the Company. The net proceeds of the Offering will be used by the Company for ramping up direct and channel sales and for general corporate and working capital purposes.

About HIT Technologies Inc.

The Company develops and markets a portfolio of products that transform Apple iPhones into high-performing, weather- and shock-resistant video cameras. Both of its flagship products, HITCASE PRO and its newer SNAP, allow users to easily capture action photo and video content hands-free, using a variety of the Company–s patented Railslide mounts that attach to virtually any surface. Swappable lenses and accessories provide a variety of perspectives otherwise unattainable while participating in adventure sports. The Company is headquartered in Vancouver, British Columbia, Canada and trades on the TSX Venture Exchange (TSX VENTURE: HIT). For more information about HITCASE, visit . Search #hitcase on Instagram to see some of the amazing images created by HITCASE customers.

About Gravitas Securities Inc.

GSI is a full service investment dealer platform registered with IIROC and headquartered in Toronto. GSI provides comprehensive investment banking services, retail advisory and private client portfolio management.

Cautionary Statement

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the 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 of this press release.

This press release may contain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, anticipations, expectations, opinions, forecasts, projections, guidance or other similar statements that are not statements of fact. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These statements are subject to certain risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. The Company–s forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

This press release will not constitute an offer to sell or the solicitation of an offer to buy any of the Company–s securities in any jurisdiction.

HIT Technologies Inc.
Brooks Bergreen
1-888-423-4124 Ext. 520

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