TORONTO, ON / ACCESSWIRE / June 10, 2024 / SPETZ INC. (the "Company" or "Spetz") (CSE:SPTZ)(OTC PINK:DBKSF) today is pleased to announce it is continuing to improve its cash flow through a debt conversion plan. This plan allows selected vendors and creditors to convert outstanding payments into secured convertible debentures maturing on October 31, 2024 (the "Debentures") and common share purchase warrants ("Warrants").

The plan includes the following conversions:

• Yossi Nevo - 367,523.91 CAD.

• Ofir Friedman - 119,278 CAD.

• Miller Thomson LLP- 104,324.3 CAD.

The Debentures shall bear interest at a rate of 1% per month, the interest shall be calculated from the issue date, in cash on the maturity date. Spetz reserves the right to repay the Debentures, without penalty, in whole or in part, prior to the Maturity Date, on 30 days prior written notice to the holders of the Debentures in advance of repayment or redemption.

The principal amount of each Debenture shall be convertible, for no additional consideration, into Common Shares at the option of the holder at any time prior to the Maturity Date at a conversion price equal to $0.24 per Common Share (the "Conversion Price").

In connection with the offering of Debentures, the Company has issued a total of 296,735 Warrants to Yossi Nevo and Ofir Friedman. Each Warrant entitles the holder thereof to subscribe for one common share in the capital of Spetz at an exercise price of $0.24 from the date of issuance continuing up to October 31, 2026.

The debentures issued to Yossi Nevo and Ofir Friedman are for the settlement of outstanding salary. The debenture issued to Miller Thomson LLP is for the settlement of outstanding consulting fees.

The proceeds from this conversion plan will be used for general working capital purposes, further strengthening Spetz's financial position.

About Spetz Inc.

Spetz Inc. is a multinational technology company that operates Spetz, a global online, AI-powered marketplace platform that dynamically connects consumers to nearby top-rated service providers in around 30 seconds. Spetz is available in the USA, United Kingdom, Australia, and Israel. The Spetz vision is to reinvent how people around the world connect to services in their moment of need. Connecting them immediately with the top-matched service provider for any need, anytime, anywhere.

Spetz Website: www.spetz.app

Spetz Investor information: https://investor.spetz.app/

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NEITHER THE CANADIAN SECURITIES EXCHANGE, NOR THEIR REGULATION SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.