PUDO Inc. Expands Private Placement Amid Strong Demand

/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

TORONTO, Feb. 26, 2025 /CNW/ – PUDO Inc. (“PUDO” or the “Company“) PDO PDPTF announced an expansion of its non-brokered private placement (“Private Placement“) due to sustained strong demand.

PUDO plans to issue up to 3,148,148 common shares (each, a “Private Placement Share“) at a price of $0.135 per share, targeting aggregate gross proceeds of up to CDN$425,000. The concurrent debt settlement (“Debt Settlement“) previously announced will remain unchanged. PUDO intends to issue up to 3,088,888 common shares (each, a “Settlement Share“) at the same price of $0.135 per share in connection with a debt of up to $417,000 owed to various creditors.

The net proceeds from the Private Placement will be allocated for general working capital.

While the size of the Private Placement has increased, all other terms regarding the Private Placement and Debt Settlement remain as outlined in previous news releases dated February 3, 2025, and February 21, 2025.

On Behalf of the Board of Directors

Elliott Etheredge, Chief Executive Officer

About PUDO Inc.
PUDO Inc. operates as North America’s only independent parcel pick-up and drop-off counter network.

The company has established a network of over 1,200 storefront partners, known as PUDOpoint Counters, located conveniently close to where people live, work, and engage in leisure activities.

Through partnerships with retailers and logistics providers, PUDO delivers a last-mile pick-up and returns network for e-commerce customers, enhancing cost efficiency, convenience, and package security in final delivery. For more information, visit: www.pudopoint.com.

This news release does not represent an offer to sell or solicitation for offers to buy any of the securities in the United States. The securities are not and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and cannot be offered or sold within the United States or to U.S. Persons without proper registration or an available exemption.

Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking information, including statements about the completion of the Private Placement and Debt Settlement, and intended use of proceeds. Terms like “may,” “would,” “could,” “will,” “likely,” “believe,” “expect,” “anticipate,” “intend,” “plan,” and “estimate” are examples of such forward-looking statements. These statements are not guarantees of future performance and may not accurately predict future outcomes. Forward-looking information is based on current information and management’s good faith beliefs regarding future events, subject to known and unknown risks, uncertainties, and other factors beyond the Company’s control. Additional details on the assumptions underlying this forward-looking information can be found in the Company’s Management’s Discussion and Analysis and other documents filed with Canadian security regulators and available at www.sedarplus.ca and on the Company’s website, https://pudopoint.com/. The Company is not obligated to update or revise any forward-looking information except as mandated by law.

SOURCE PUDO Inc.

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