JEMTEC SECOND FISCAL QUARTER & FINANCIAL UPDATE

JEMTEC INC.TSX- V: JTC

VANCOUVER, BC, March 30, 2022 JEMTEC  Inc.  (TSXV: JTC)  (the  "Company")  is pleased to provide an update on its Second Quarter performance for  the  period  ended January 31, 2022 and  the  Companies  improving financial situation, with no debt, strong liquidity and net worth.

Q2 Revenues
Revenues have increased by 12% during the quarter ended January 31, 2022 compared to the quarter ended January 31, 2021 primarily due to increased revenues from SOLGEN and the province of Saskatchewan. The Company earned revenues on its agreements with the Provinces of Saskatchewan, Nova Scotia as well as the CSC and SOLGEN. The Company also earned revenues from private bail clients by presenting the release plans for court cases.

Q2 Expenses
During the quarter ended January 31, 2022, expenses increased by 13% compared to the quarter ended January 31, 2021 primarily due to the fluctuations in depreciation, directors' fees, equipment rent and installation, foreign exchange, monitoring and activation fees, professional fees and repairs and maintenance.

Q2 Income Tax
For the quarter ended January 31, 2022, the Company recognized a current income tax expense of $54,000 (January 31, 2021 - $45,000) and a deferred income tax expense of $4,000 (January 31, 2021 - $Nil). The current income tax expense was related to income tax in Canada. The deferred income tax recovery was related to unrecognized deferred tax assets.

Q2 Net Income
For the quarter ended January 31, 2022, the Company recorded a net income of $153,461, compared to a net income of $149,396 during the quarter ended January 31, 2021. This increase in net income is primarily associated with the increase in leasing, monitoring and activation revenue.

Q2 Liquidity
At January 31, 2022, the Company had cash and cash equivalents of $1,953,217 and working capital of $2,124,500. All cash and cash equivalents are on deposit with a Schedule I bank in Canada in current or interest accruing accounts.

Eric Caton, President and CEO said, "We are very pleased with the Q 2 results and we continue to see a profitable and stable path ahead with the Company well positioned to grow its core business and increase market share." Jemtec has provided a full spectrum of monitoring technologies and services to provincial and federal correctional and border services across Canada since 1987 and in doing so has built a reputation for offering the best technological solutions and support for use in this demanding environment.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements, which relate to future events  or  future performance  and  reflect  management's  current  expectations  and  assumptions.  Such  forward  - looking statements  reflect  management's  current  beliefs  and  are  based  on  assumptions  made by and information

currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

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

SOURCE Jemtec Inc.

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