ADRABBIT LIMITED ANNOUNCES APPLICATION TO PARTIALLY REVOKE CEASE TRADE ORDER, DELISTING FROM THE NEX BOARD OF THE TSXV, AND RESIGNATION OF DIRECTORS

VANCOUVER, BC, Dec. 22, 2025 /CNW/ - Adrabbit Limited (the "Company") is pleased to announce it has applied to partially revoke the cease trade order (the "CTO") issued against the Company by the British Columbia Securities Commission (the "BCSC") dated May 6, 2024. The CTO was issued due to the Company's failure to file certain financial disclosure documents in compliance with National Instrument 51-102 - Continuous Disclosure Obligations and National Instrument 52-109 – Certification of Disclosure in Issuers' Annual and Interim Filings.

If the BCSC partially revokes the CTO, the Company intends to complete a non-brokered private placement of up to 1,710,436,473 common shares in the capital of the Company (the "Common Shares") at a price of $0.000175 per Common Share for aggregate gross proceeds of up to $300,000 (the "Private Placement"). The Company intends to use the aggregate proceeds of up to $300,000 raised from the Private Placement to resolve outstanding fees, prepare audited financial statements, and pay all other costs associated with applying for a full revocation of the CTO.

Delisting from the TSXV

On August 15, 2024, the Company's listing was transferred to the NEX Board of the TSX Venture Exchange ("TSXV") following the CTO. On December 4, 2025, the Company's Common Shares were delisted from the NEX due to non‑payment of outstanding TSXV fees arising from financial hardship. The Company intends to settle the outstanding fees to the TSXV with proceeds from the Private Placement.

Resignation of Directors

The Company also announces the resignations of Dan Corsello and Sarwar Nasimi from the board of directors as of August 21, 2024, and the resignation of Frederic Leigh from the board of directors as of October 8, 2025. The Company wishes to thank the former directors for their services and contributions.

About AdRabbit.

Adrabbit is a reporting issuer in the Provinces of British Columbia and Alberta existing under the laws of Australia.

Neither TSX Venture Exchange 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.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities under the Private Placement in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. 

Forward-Looking Information

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking statements. Forward- looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future events, plans, prospects, business, and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein are forward-looking statements, including, without limitation, statements regarding the timing and terms of the Private Placement, and statements regarding the BCSC granting partial revocation orders to the Company. There are a number of risks and uncertainties related to these forward-looking statements, which include, but are not limited to: denial by the BCSC of the application for a partial revocation order, the closing of the Private Placement, and other unexpected items arising relating to the audit.

Although the Company has attempted to identify important factors that could cause actual actions, events, conditions, results, performance, or achievements to differ materially from those described in forward- looking statements, there may be other factors that cause actions, events, conditions, results, performance, or achievements to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future, as at the date they are provided. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law. Accordingly, investors should not place undue reliance on forward- looking statements. All the forward-looking statements are expressly qualified by the foregoing cautionary statements.

SOURCE AdRabbit Limited