TORONTO, ON / ACCESSWIRE / September 15, 2022 / 01 Communique Laboratory Inc. (the "Company") (TSXV:ONE)(OTCQB:OONEF), one of the first-to-market, enterprise level cybersecurity providers for the quantum computing era, is pleased to report the Company's third quarter fiscal 2022 results, which ended July 31, 2022.

Andrew Cheung, CEO of 01 Communique, stated, "I am pleased with the progress we made to date and look forward to the rest of the year. We have had a very busy year and coincidently many major projects are coming together at the same time. We completed the working Proof-of-Concept ("PoC") for what we believe to be the World's First Quantum-Safe Blockchain. We plan on having it ready to demonstrate to our partner for use as a Quantum-Safe Wallet as well as filing a patent application related to the invention by the end of September of this year. We also moved closer to completing our IronCAP X™ business edition. We plan to have it ready for commercial use by the end of October of this year. Last but not least, the integration with one of our partner's military-grade Hardware Security Module (HSM) announced in February earlier this year is also in its completion stage. We will keep our investors posted on the progress of these developments."

Highlights:

• Revenue for the quarter was $236,002 (2021 - $211,831) and year to date $782,637 (2021 - $722,324). The trend of working from home continues to be popular in Asia-Pacific which is contributing to the acceptance of the Company's remote access business in that market. The Company receives recurring royalties from the Company's Asia-Pacific remote access business whereby DoMobile, a secure remote access solution, is exclusively marketed by the Company's partner in Japan. In addition, development fees were recognized in 2022 for the completed portion of the Quantum-Safe Blockchain project.
• The loss for the quarter was $190,242 (2021 - $228,762) and year to date $480,762 (2021 - $406,278). The Company is continuing with its investment in the development and commercialization of its IronCAP™ technology.
• The adjusted loss for the quarter was $135,374 (2021 - $156,135) and year to date $334,044 (2021 - $264,233). The adjusted loss excludes stock-based compensation and depreciation which are non-cash expenses. The Company completed the quarter with $858,550 of cash.
• As previously announced, the Company was commissioned to develop the World's First Quantum-Safe Blockchain. This revolutionary blockchain is essentially a transformation of the proven Solana Blockchain into a quantum-safe version that can be incorporated in Tokens, NFTs, Smart Contracts for Metaverse, DeFi, and more. The technology developed for this project is independent of the type of Blockchain that is in use and as such it can be applied to not just the Solana Blockchain but to any Blockchain. The working Proof-of-Concept ("PoC") was recently completed in August and has been accepted by our partner in the project. The final working demonstration of a Quantum-Safe Wallet is expected to be completed by the end of September of this year.
• The Company continued with development work on the IronCAP X™ business edition, which is expected to be the world's first commercial-ready quantum-safe email security product. It is anticipated that it will be ready for commercial use by the end of October of this year.
• Since February this year we have been busy working with integrating our IronCAP into one of our partner's military-grade HSM. The project is now in its completion stage.
• We continue to work with Hybrid Financial Ltd. ("Hybrid") as they provide investor relations services to the Company. Hybrid was engaged to heighten market and brand awareness as well as broaden the Company's reach within the investment community both in Canada and the United States.
• Subsequent to the end of the quarter on September 7th we completed a non-brokered private placement comprising of 562,500 units at a price of $0.20 per unit for gross proceeds of $112,500. Each unit is comprised of one common share and one-half of one share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share for a period of 24 months from the closing date at an exercise price of $0.35 per warrant share.

Conference Call Reminder and Information:

01 Communique will host a live teleconference allowing for questions and answers later today at 10:00AM EST (September 15, 2022) to discuss the Company's results as well as providing an update on the business prospects for IronCAP™ and IronCAP X™.

Browser (please cut-and-paste the following link into your browser):

https://us02web.zoom.us/j/83272630612?pwd=K1ZmRGhYKy9xaVE4UUVRMzJYTUFyQT09
Passcode: ironcap22

Dial-in:
Within Canada (647) 374-4685 or (647) 558-0588
Within the USA (646) 558 8656 or (669) 900 9128
Webinar ID when prompted is 832 7263 0612
Passcode: 066489703

About 01 Communique

01 Communique (TSX-V:ONE; OTCQB:OONEF) is one of the first-to-market, enterprise level cybersecurity providers for the quantum computing era. Its IronCAP™ technology, protected in the U.S.A. by its patent #11,271,715, is a cryptographic system incorporating advanced post-quantum cryptographic technology that can be implemented on classical computer systems as we know them today while at the same time can also safeguard against attacks in the post-quantum world of computing. The Company's remote access business unit provides its customers with a suite of secure remote access services and products under its I'm InTouch and I'm OnCall product offerings. The remote access offerings are protected in the U.S.A. by its patents #6,928,479 / #6,938,076 / #8,234,701; in Canada by its patents #2,309,398 / #2,524,039 and in Japan by its patent #4,875,094. For more information, visit the Company's web site at www.ironcap.ca and www.01com.com

Cautionary Note Regarding Forward-looking Statements.

Certain statements in this news release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this news release, such statements use such words as "may", "will", "expect", "believe", "plan", "intend", "are confident" and other similar terminology. Such statements include statements regarding the commercial success of IronCAP X™, the future of quantum computers and their impact on the Company's product offering, the functionality of the Company's products and the intended product lines for the Company's technology and the potential licensing of the Company's technology. These statements reflect current expectations regarding future events and operating performance and speak only as of the date of this news release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under "Risk and Uncertainties" in the Company's Management`s Discussion and Analysis document filed on SEDAR. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances.

Neither TSX Venture Exchange ("TSX-V") nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

INVESTOR CONTACT:

Brian Stringer
Chief Financial Officer
01 Communique
(905) 795-2888 x204
Brian.stringer@01com.com

01 Communique Laboratory Inc.

SELECTED FINANCIAL INFORMATION
Consolidated Statements of Financial Position
As at July 31, 2022 and October 31, 2021
Unaudited

01 Communique Laboratory Inc.

SELECTED FINANCIAL INFORMATION
Consolidated Statements of Operations and Comprehensive Income
For the 3 and 9 month periods ended July 31, 2022 and 2021
Unaudited

01 Communique Laboratory Inc.

SELECTED FINANCIAL INFORMATION
Consolidated Statements of Cash Flows
For the 3 and 9 month periods ended July 31, 2022 and 2021
Unaudited

SOURCE: 01 Communique Laboratory Inc.