Litelink Technologies Inc. ('Litelink') (CSE:LLT) (OTC:LLNKF) (FRA:C0B) is pleased to provide an update with respect to its previously disclosed management cease trade order ('MCTO') approved by the British Columbia Securities Commission (the 'BCSC') on August 19, 2020.

Due to the continued impact of COVID-19, Litelink anticipates the filing of its audited annual financial statements and corresponding management's discussion and analysis (collectively, the 'Annual Filings') for the financial year ended February 29, 2020 to be delayed beyond the required filing deadline: (i) under Parts 4 and 5 of National Instrument 51-102 - Continuous Disclosure Obligations ('NI 51-102') and pursuant to National Instrument 52-109 - Certification of Disclosure in Issuer's Annual and Interim Filings, being April 29, 2020; as extended by (ii) BC Instrument 51-517 - Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period from June 2 to August 31, 2020 (the 'Blanket Relief'), being August 13, 2020. As a result, and in accordance with National Policy 12-203 - Management Cease Trade Orders, Litelink applied to the BCSC for a MCTO in respect of the anticipated default regarding the Annual Filings. Litelink expects that the MCTO will remain in place until the Annual Filings are filed. Litelink is working diligently and expeditiously with its auditors and expects to file the Annual Filings as soon as possible, and in any event no later than September 14, 2020. Litelink currently does not anticipate any delay in filing its interim financial statements, management's discussion and analysis, and the related officer certifications for the financial period ended May 30, 2020, before its filing deadline under NI 51-102 as extended by the Blanket Relief, which Litelink intends to rely on, to September 14, 2020. As required under Canadian securities laws, Litelink will continue to provide bi-weekly updates with regards to the MCTO as needed. Other than as previously disclosed by Litelink, and herein with this press release, Litelink confirms that there have been no material business developments since the date of its thirdquarter interim financial statements that were filed on January 31, 2020.

About Litelink Technologies Inc.

Litelink is a major player in developing world-class enterprise platforms that utilize artificial intelligence, blockchain, and predictive analytics to solve fragmented and outdated technology problems in the logistics and digital payment industries. Its flagship 1SHIFT logistics platform offers real-time transparency and tracking which allows brokers, shippers, and carriers to track shipments and settle payments in real-time.

Cautionary Statement Regarding Forward-Looking Statements

This news release may contain certain 'Forward-Looking Statements' within the meaning of Canadian securities laws. When used in this news release, the words 'anticipate', 'believe', 'estimate', 'expect', 'target', 'plan', 'forecast', 'may', 'schedule' and other similar words or expressions identify forwardlooking statements or information. These forward-looking statements or information may relate to the nature of the business of Litelink and other factors or information. Such statements represent Litelink's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by Litelink, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Litelink does not intend and does not assume any obligation to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.

Contact:

Tel: 604-700-9226

Email: investor@litelinktech.com

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