SWMBRD Sports Inc. Announces Extension of Warrant Incentive Program, Entry into Investor Services Agreement and Issuance of Performance Share Units

VANCOUVER, BRITISH COLUMBIA – TheNewswire – June 13, 2022 – SWMBRD Sports Inc. (there “Company”) (CSE: SWIMMING.NC) announces that, further to its press release dated June 2, 2022, announcing details of a Warrant Exercise Incentive Program (the “Program”), it will extend the end date of the Program from June 15, 2022 to June 29, 2022 (the “Extension”) with respect to the exercise of up to 18,636,500 Qualifying Warrants at an exercise price of $0.10 (the “Eligible Warrants”).

The program began on June 2, 2022 at 2 p.m. (Vancouver time) and, with the extension, will expire on June 29, 2022 at 5 p.m. (Vancouver time). Qualifying warrants that remain unexercised after the completion of the program will continue to be exercisable under the original terms as they existed prior to the program.

The Company also announces he entered into a consulting agreement with Sutton Integrated Communications Ltd. (“sutton”) to provide investor relations services to the Company in connection with the development of a four (4) panel brochure using a dynamic print generator (the “Services”). Sutton’s contact information is as follows: 880 Weston Road, Toronto, Ontario, M6N 3R7, T: 416 502 8607, [email protected]

In consideration for the Services, the Company has agreed to pay Sutton a total of US$8,000 plus taxes, of which US$4,000 plus taxes will be paid by the Company upon commencement of the Services by the award of 57,128 performance share units (each, onepower supply”) and $4,000 plus tax will be paid in cash upon completion. Each PSU will be granted subject to the terms of the Corporation’s long-term incentive plan and represents the right to receive, once vested and the performance criteria achieved, one common share in the capital of the Corporation.

In accordance with the policies of the Canadian Securities Exchange, securities issued to Sutton will be subject to a hold period of four months from the date of issue.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein to, or for the account or benefit of, persons in the United States or persons (“American people“), as that term is defined in United States Regulation S Securities Act of 1933as amended (the “1933 Act”). The securities described herein have not been and will not be registered under the 1933 Act or any state securities law, and may not be offered or sold to, or for the account or benefit United States Persons or United States Persons, unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

About SWMBRD Sports Inc.

SWMBRD Sports Inc. is a Vancouver, BC-based sporting goods company that seeks to empower millions of people to rethink the way they have fun in the water. Management believes SWMBRD’s revolutionary watersports board, through its patented design, strengthens the human body in the water like never before, giving water enthusiasts of all ages and abilities the freedom to explore with ease. all aquatic environments.

By offering a water sports board that aims to be versatile, easy to use, easy to store, usable by all ages and all body types in any body of water (rivers, oceans, lakes and swimming pools), the Company believes SWMBRD and the sport of swimboarding have the potential to become one of the most popular board sports in the world, and SWMBRD a great aquatic brand.

The company has refined the manufacturing techniques most relevant to the SWMBRD and has successfully produced demo versions of fully functional boards, which have been rigorously used in the real world in Hawaii, Canada and Greece. The company is now preparing to begin full-scale mass production under an OEM agreement with Tahe Sports, Vannes, France – a preeminent boardsports manufacturer in Europe. This is SWMBRD’s intention and hopes to have boards available for sale in December 2022.

For more information, please contact:

Justin Schroenn – President, CEO and Director

E-mail: [email protected]

Phone: 778-870-1497

Matthew Schroenn – Vice President and Director

E-mail: [email protected]

Phone: 604-375-4664

Gareth Schroenn – Vice President

E-mail: [email protected]

Phone: 604-339-2721

On behalf of the Board of Directors
SWMBRD Sports Inc.

“Justin Schroenn”
Justin Schroenn
Chairman and Chief Executive Officer and Director
Phone: 778-870-1497

Forward-looking statements

Certain statements in this press release regarding the program are forward-looking statements and are forward-looking in nature. Forward-looking statements are not based on historical fact, but rather on current expectations and projections regarding future events, and are therefore subject to risks and uncertainties that could cause actual results to differ materially. future expressed or implied by the forward-looking statements. statements. These statements can generally be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”. , ‘expects’, ‘believes’ or ‘continues’, or their negative or similar variants. These statements are qualified in their entirety by the inherent risks and uncertainties surrounding the number of warrants eligible for the program, the dates of the program, the entering into of the consulting agreement, the performance of the services by the consultant and the issuance of PSUs in return for the services. . Such forward-looking statements should therefore be interpreted in light of these factors, and the Company has no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise


Ryan H. Bowman