Parvis Provides Update on Convertible Debenture Financing

Parvis Invest Inc. is providing an update on its previously announced non-brokered private placement of unsecured convertible debentures for aggregate gross proceeds of up to C$3,000,000. The Company expects to close the financing in one or more tranches, with the first tranche to close once the Company receives approval from the TSX Venture Exchange. The Company intends to issue Debenture units, with each Debenture Unit consisting of one Debenture the principal of which is convertible into common shares at a conversion price of $0.55 per Common Share, and such number of common share purchase warrants of the Company equal to 100% of the number of Common Shares issuable upon conversion of the Debenture. Each Warrant shall entitle the Subscriber to acquire one additional common share of the Company at an exercise price of $0.65 per share for a period of twenty-four months from the closing. The Debentures will bear interest at a rate of 10% per annum and will mature 24 months from the Closing Date. All securities issued under the financing will be subject to a statutory hold period of four months and one day from the Closing Date, in accordance with applicable Canadian securities laws and the policies of the Exchange.

The Company is providing an update to the intended use of proceeds of the financing. Following a review of the Company's near-term capital requirements and the anticipated timing of its pending transactions, the Company has revised the intended use of proceeds. The net proceeds of the First Tranche are now intended to be applied as follows: the majority of the net proceeds to working capital in connection with the integration of the Company's acquisition of Atlas One; and the balance to general working capital and the general and administrative expenses of the Company.

The Company intends to close the First Tranche prior to completion of the closing of the acquisitions of Atlas One Digital Securities Inc. and FavorPoint Capital, LLC. Working capital applied to the Atlas One integration is expected to fund technology and platform integration, dealer registration and regulatory compliance costs, advisor and investor onboarding, personnel and retention costs, and related professional fees, in each case arising in connection with the integration of Atlas One onto the Parvis platform. Costs associated with the acquisition and integration of FavorPoint, including costs of the FINRA Continuing Membership Application process, will be funded from the closing of subsequent tranches of the Concurrent Financing upon receipt of final acceptance by the Exchange.

While the Company intends to use the net proceeds of the financing as described above, the actual allocation of the net proceeds may differ from that set out herein. The Company may reallocate the net proceeds from time to time depending on the progress and timing of the Atlas One integration, the Company's operating requirements and other factors, subject to compliance with applicable securities laws and the policies of the Exchange. It is expected that certain directors of the Company will subscribe for Debenture Units under the First Tranche.