• Contract with two master franchisees covers their eight current locations in Quebec
• Master franchisees intend to integrate Digital Smart Labels^TM within all of their future franchised locations
• Further ~30 existing franchised stores under the Pitou Minou & Compagnons' (Global Pet Foods) umbrella across Quebec represents additional future potential

Toronto, Ontario--(Newsfile Corp. - May 31, 2023) - Danavation Technologies Corp. (CSE: DVN) (OTCQB: DVNCF) ("Danavation" or the "Company"), the only North American-founded and headquartered technology company providing micro e-paper displays, today announced a multi-store contract to install Danavation's Digital Smart Labels into eight franchised Pitou Minou & Compagnons ("PMC") locations in Quebec that offer Global Pet Foods' products, the largest Canadian-owned pet specialty retailer. Completion of these eight installations represents an opportunity for Danavation to recognize up to a total estimated C$500,000 in revenue. With nearly 40 storefronts currently operating under the PMC (Global Pet Foods) banner in Quebec, and more locations opening up every year, Danavation is afforded the potential for future growth with this brand moving forward. The first installation is expected to be completed by early August, with the remaining seven locations to be outfitted at a rate of one to two per week thereafter.

PMC was established over 16 years ago by founders Richard Bégin and Daniel Villeneuve in response to the prevailing deficiency of affordable and nutritious pet food products in Quebec. Through PMC, the pair formed a strategic partnership with the esteemed Canadian brand, Global Pet Foods, with the objective of offering high-quality, domestically manufactured merchandise to cater to the Quebec market. Today, over 40 stores in Quebec operate in concert with the PMC Global Pet Foods umbrella, with a goal to open the 50^th franchise location in 2025¹, catering to the needs of thousands of customers and their pets while also positively contributing to the welfare of the local community.

"We're very pleased to secure an additional eight installations with PMC (Global Pet Foods) in Quebec, with the potential to increase that with both existing and future franchise locations, while expanding our presence in the continuously growing pet food space,²" said John Ricci, CEO of Danavation. "Partnered with an active and high-quality franchisee group benefits both PMC (Global Pet Foods) store operators as well as Danavation as together we elevate the benefits associated with utilizing our Digital Smart Labels by reducing costs of inaccurate shelf pricing, freeing up staff time to focus on customer service, and streamlining operations, all of which can contribute to enhanced margins and improved bottom lines."

About Danavation

Danavation Technologies Corp. is the only North American-founded and headquartered technology company providing Digital Smart Labels and a software Platform-as-a-Service (PaaS) solution that enables companies across various sectors to automate labelling, price, product, and promotions in real-time. Danavation's Digital Smart Labels enhance data accuracy and improve performance by removing high labour costs and low productivity typically associated with traditional labour-intensive workflows. Our goal is to create a sustainable and profitable business for shareholders while advancing sound environmental, social and governance practices, including by significantly reducing paper usage. Danavation has introduced its solution to retailers across North America, including big box and boutique grocers, while also targeting new markets including healthcare providers, manufacturing, and logistics companies. Learn more about the background of Danavation and our vision for the future on our website. As well, follow us on LinkedIn, Instagram, Twitter and YouTube for more updates on how we are transforming the retail landscape.

For further information, please contact:

John Ricci
President & Chief Executive Officer
hello@danavation.com

Kyle Nazareth
Chief Financial Officer
Tel: 289-892-3974 | investors@danavation.com

Forward-Looking Information

This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. More particularly and without limitation, this news release contains forward‐looking statements and information relating, the future business of the Company, potential roll outs of the Company's products and services, further business from the Company's clients, industry outlook and potential and other matters. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given 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. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

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

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