UpSnap Inc. announced that it has amended the terms of its outstanding secured debenture (the "Debenture"), held by User Friendly Media (or an affiliate thereof) ("UFM") in the aggregate principal amount of CAD $800,000, to extend the maturity date of the Debenture from September 30, 2021 to December 31, 2021. The Debenture will continue to bear interest at an annual rate of 13.5% to be paid to UFM quarterly. The issuance of the Debenture was originally announced by the Company on October 2, 2018. The extension of the maturity date of the Debenture will be considered a related party transaction within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the formal valuation and minority approval requirements in sections 5.5(b) and 5.7(1)(b) of MI 61-101 in respect of this amendment to the Debenture based on a determination that the Company satisfies the criteria set out in those sections.