Metaguest.AI Announces Significant Sales Increase for the Second Quarter of 2024 and Private Placement of Units

Toronto, Ontario–(Newsfile Corp. – August 30, 2024) – Metaguest.AI Incorporated (CSE: METG) (formerly BnSellit Technology Inc.) (the “Corporation”) is pleased to announce that subscription sales and experience bookings for quarter ended June 30, 2024 was $370,733 – a 41% increase over the first quarter of 2024 and a 392% increase over the second quarter of 2023. For the six months ended June 30, 2024, Metaguest sales were $634,431 – a 517% increase of the first two quarter of 2023. Revenue for the period was $555,923 as $78,508 of sales related to subscriptions for future periods. Metaguest earns its revenue from recurring monthly subscriptions paid by business partners which give guests staying at partner hotel properties access to their unique offerings. In addition, Metaguest receives commission revenue on experience sales booked through its partners, Tiqets International and Viator. A full set of unaudited financial statements are available on www.sedarplus.ca.

The Company also has closed a non-brokered private placement offering (the “Offering“) of 377,720 units (each a “Unit“) for gross proceeds of $113,316 at a price of $0.30 per Unit. Each Unit consists of one common share and one half of one common share purchase warrant (a “Warrant”). Each whole Warrant is exercisable into common shares at a price of $0.50 per Warrant expiring on February 28, 2026. The gross proceeds received by the Corporation will be used for working capital purposes. All securities issued under the Offering are subject to a statutory hold period until December 29, 2024. Since November 2023, the Corporation has closed an aggregate of $838,125 under the terms of the Offering.

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About Metaguest.ai Incorporated

Metaguest.ai Incorporated is a cutting-edge technology company that develops advanced AI platforms for the hospitality industry designed to enhance the guest experience. Our flagship products are comprehensive solutions that addresses all aspects of the guest journey, from pre-arrival to post-departure. Features include on-property e-commerce with electronic payments, real-time in-room service management, mobile check-out, personalized in-room controls, local experience/event bookings, virtual personal concierge and more. Guests engage in over 16 languages, on any connected device and without the need to download an app or visit a web site. By leveraging the platforms, hotels, resorts and short-term rental property owners can improve their operational efficiency, personalize the guest experience, increase revenue and overall customer satisfaction.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221612

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