Intellabridge Announces CAD$10 Million Private Placement with Institutional Investors

Menlo Park, California; Vancouver, British Columbia; and Boulder, Colorado--(Newsfile Corp. - July 15, 2021) - Intellabridge Technology Corporation (CSE: INTL) (OTC Pink: CRBTF) (FSE: 98AA), a blockchain technology company, is pleased to announce that it has entered into a securities purchase agreement for a private placement of its common shares ('Common Shares') and warrants to purchase Common Shares ('Warrants') with institutional investors for gross proceeds of approximately CAD$10 million (the 'Private Placement'). Pursuant to the Private Placement, the Company will issue 8,064,517 Common Shares and Warrants to purchase up to an aggregate of 8,064,517 Common Shares at a purchase price of CAD$1.24 per Common Share and associated Warrant. Each Warrant will entitle the holder to purchase one Common Share at an exercise price of CAD$1.55 per Common Share for a period of three years following the issuance date.

By Intellabridge corporation

July 15, 2021

H.C. Wainwright & Co. is acting as the exclusive placement agent for the Private Placement.

The net proceeds of the Private Placement will be used by the Company for business operations, expansion of its business and for general working capital purposes.

The Company has applied to list the Common Shares issued in the Private Placement and the Common Shares issuable upon the exercise of the Warrants on the Canadian Securities Exchange ("CSE"). No securities were offered or sold to Canadian residents in connection with the Private Placement. The Private Placement is expected to close on or about July 20, 2021, subject to satisfaction of customary closing conditions.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities referred in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, (the "U.S. Securities Act"), or any U.S. state securities laws, and such securities may not be offered or sold within the United States or to any U.S. person absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements. "United States" and "U.S. person" have the respective meanings ascribed to them in Regulation S under the U.S. Securities Act.

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

About Intellabridge Technology Corporation

Intellabridge Technology Corporation (CSE: INTL) (OTC Pink: CRBTF) (FSE: 98AA) is a venture builder investing in blockchain technologies with a focus on fintech and decentralized financial ("DeFi") solutions. For more information on Intellabridge, visit www.intellabridge.com.

ON BEHALF OF THE BOARD of DIRECTORS INTELLABRIDGE TECHNOLOGY CORPORATION "Maria Eagleton" Maria Eagleton, COO

To contact Intellabridge:

Website: intellabridge.com Phone: +1-303-800-5333 Email: [email protected]

The CSE does not accept responsibility for the adequacy or accuracy of this release.

ON BEHALF OF THE BOARD of DIRECTORS INTELLABRIDGE TECHNOLOGY CORPORATION "Maria Eagleton" Maria Eagleton, COO

To contact Intellabridge:

Website: intellabridge.com Phone: +1-303-800-5333 Email: [email protected]

The CSE does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of any of the word "will" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.