Interbit™ Announces a Product Strategy Update and Contract Signed with Xinova, Llc Canada

INTERBIT™ ANNOUNCES A PRODUCT STRATEGY UPDATE AND

CONTRACT SIGNED WITH XINOVA, LLC

Canada / London, UK July 11, 2019

INTERBIT LTD. (TSX Venture: IBIT) (the “Company”) is pleased to provide an update on the

development of the Interbit TM platform, its proprietary technology platform. On April 25th the

Company announced it would focus exclusively on the development of the platform and testing

its performance to enable support of the commercial opportunities created by GDPR mandates

and the emergence of Edge computing.

“The InterbitTM platform’s fundamental building blocks have been structured to form the basis of a

lightweight and practical infrastructure that provides both the ability to segregate and delete data

in a transparent manner, to meet the growing concerns around privacy and the right to remove

data that is now being demanded from the market,” said Scott Maxwell, COO of the Company.

In Q2, Company developers completed numerous data reconciliation functions and performance

tests and demonstrated that a single multi-chain installation of the InterbitTM platform was capable

of supporting up to 5 concurrent nodes, with up to 100 Blockchains on each node. These tests

also demonstrated the Interbit TM platform’s unique chain-joining technology with a chain-join

throughput of 300 transactions per second per chain-join, similar to current enterprise single

blockchain solutions, while allowing for multiple chain-joins that when combined yield yet higher

performance. The focus is now to demonstrate that additional nodes will distribute data over

multiple blockchains to continue increasing the chain-joining throughput rate and enabling

extended scalability going forward.

These advances are enabling the Company to progress the Interbit TM platform to the next stage

of its development and as a result the Company has entered into a service agreement with Xinova,

LLC (“Xinova”) to complete a review of the code and build upon the functionality and market

readiness for the platform for the solutions required by the CitizenOS project (see the Company’s

November 29, 2018 press release), along with other commercial opportunities. The review, which

is expected to be completed early Q4 2019, will be conducted by Xinova and its global network

of experts who focus on accelerating innovation by developing solutions to the problems or

challenges faced by major corporations and governments.

Scott Maxwell, COO of the Company added, “Given the advantages that our multi-blockchain

aims to provide, our primary focus now is to advance the Interbit TM platform to a point where it

can support commercial applications and satisfy the demands of Xinova, its network and others.

Xinova’s review will not only provide us with external validation of our platform but also accelerate

our commercial deployment and the identification of further opportunities.”

Chal Davidson, Xinova’s VP Business development added, “Xinova’s smart and trusted network

of innovators is as diverse in expertise and disciplines as it is geographically, having innovators

in more than 100 countries around the world. We’re excited to put the mind of the network to work

and build on Interbit’s recent advances towards a commercial platform.”

TM

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ABOUT XINOVA

Xinova (www.xinova.com) believes problems are a good thing and leverages the power of its

global network to connect the toughest problems with the smartest minds and best resources.

This opens up the path to end-to-end innovation that moves companies from idea to product on-

shelf faster and with more return. Xinova is headquartered in Seattle with offices in Bangalore,

Beijing, Helsinki, Hong Kong, Seoul, Singapore, Sydney, Tel Aviv, Tokyo, and Vienna.

ABOUT THE COMPANY

The Company is a technology platform provider listed on the TSX Venture Exchange and

operating from both Canada and the UK with offices in Calgary and London.

For further information please contact:

Dominic McCann, CEO

Phone: +1-778-834-8417

Email: [email protected]

Website: www.interbit.io

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain statements in this release are forward-looking statements, which include further

development of the Company’s business relationships and business and the timing, development,

launch and success of the Company’s technologies and products (including, without limitation,

successful development and commercialization of the Interbit TM platform), and other matters.

Forward-looking statements consist of statements that are not purely historical, including any

statements regarding beliefs, plans, expectations or intentions regarding the future. Such

information can generally be identified by the use of forwarding-looking wording such as “may”,

“expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or

similar variations. Readers are cautioned not to place undue reliance on forward-looking

statements, as there can be no assurance that the plans, intentions or expectations upon which

they are based will occur. By their nature, forward-looking statements involve numerous

assumptions, known and unknown risks and uncertainties, both general and specific, that

contribute to the possibility that the predictions, estimates, forecasts, projections and other

forward-looking statements will not occur. These assumptions, risks and uncertainties include,

among other things, the state of the economy in general and capital markets in particular, the

development of competitive technologies, the marketplace acceptance of the Company’s

technologies and products, as well as those risk factors discussed or referred to in the Company's

annual Management's Discussion and Analysis for the year ended December 31, 2018 available

at www.sedar.com, many of which are beyond the control of the Company. Forward-looking

statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this

press release. Except as required by law, the Company disclaims any intention and assumes no

obligation to update or revise any forward-looking statements, whether as a result of new

information, future events or otherwise. Additionally, the Company undertakes no obligation to

comment on the expectations of, or statements made by, third parties in respect of the matters

discussed above.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is

defined in the policies of the TSX Venture Exchange) accepts responsibility for the

adequacy or accuracy of this release.