• Initial installation of Digital Smart Labels^TM into the first of over 40 ACE Hardware locations operating under a single brand in the central U.S.
• Demonstrates effectiveness of the Company's U.S. expansion strategy and sales efforts
• Six additional locations for Impulsora in Mexico to be outfitted, building on the original 12 locations

Toronto, Ontario--(Newsfile Corp. - September 20, 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, is pleased to announce further U.S. market share capture with an expansion of our ongoing ACE Hardware relationship, and an additional six new small format installations for Mexico-based Impulsora, over and above the 12 previously announced.

"Our strategic efforts to expand into the U.S. continue to prove effective as we have secured our first Digital Smart Labels installation for another retail group under the ACE Hardware banner. In addition, based on the results of our ongoing 12-location installations for Impulsora in Mexico, they have contracted Danavation for an additional six, smaller format installations," said John Ricci, CEO of Danavation. "The ongoing trust and confidence placed in Danavation by retailers under the ACE Hardware brand, as well as the demand coming from Impulsora, demonstrates the benefits realized by implementing our Digital Smart Labels solution and our ability to nurture strong business relationships."

Further Expanding the ACE Hardware Relationship

Danavation has been contracted for the installation of our Digital Smart Labels into the first of over 40 locations owned by an independent hardware store banner and operating under the ACE Hardware brand umbrella across the central U.S. This first installation in Ohio is anticipated to be complete by Q1 2024 and based on success, could be followed by additional installations across the more than 40 locations within the hardware group's portfolio of retail stores.

ACE Hardware is a community-minded organization with over 5,000 stores around the world, independently owned and operated by local ACE retail entrepreneurs. ACE stores come in all shapes and sizes based on the needs of each individual neighborhood, from small, urban stores to large rural stores and everything in between. Danavation is helping to automate in-store operations and drive improved margins with our Digital Smart Labels and Platform-as-a-Service (PaaS) solution, which are ideal for enhancing staff efficiency and reducing costs associated with inaccurate shelf pricing.

Additional Six Store Rollout for Impulsora

As previously announced in November of 2022, Danavation was contracted to complete a full rollout of Digital Smart Labels into the remaining 11 Impulsora locations after a successful initial installation. Based on continued success with the ongoing installations, coupled with the value realized throughout their network of stores, an additional six locations will be outfitted with the Company's Digital Smart Labels on a smaller format basis commencing in early 2024.

Impulsora is Mexico's largest distributor of electrical and lighting equipment, offering products of low and high voltage electrical equipment and material from the most recognized brands in the electrical and hardware industry, such as 3M, PHILIPS, WD-40, and BURNDY. They have a large and fast-moving inventory with more than 100,000 square metres of warehouse space located throughout Mexico.

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. The Company'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 our 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.

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