Looking to Buy Online? Shop in Canada or USA

TUT Fitness Updates Status of Filing Annual Financial Statements

Vancouver, British Columbia – March 26, 2024 – TUT Fitness Group Inc. (“TUT” or the “Company”) (TSX.V:GYM) announces, further to its news releases issued on January 30, 2024, February 13, 2024, February 27, 2024 and March 12, 2024 that the Company’s principal regulator, the British Columbia Securities Commission (the “Commission”), granted a management cease trade order (the “MCTO”) on January 30, 2024, under National Policy 12-203 Management Cease Trade Orders (“NP 12-203”).

Pursuant to the MCTO, the Chief Executive Officer and the Chief Financial Officer may not trade in securities of the Company until such time as the Company files its annual audited financial statements for the year ended September 30, 2023, management’s discussion and analysis and related certifications (collectively the “Required Documents”) and the Commission revokes the MCTO. The MCTO does not affect the ability of shareholders to trade their securities.

The Company’s Board of Directors and management confirm that they are continually working expeditiously to file the Required Documents. Since the Company’s press release dated February 27, 2024, subject to exchange approval, the Company’s board of directors have approved, by resolution, the consolidation of its issued and outstanding common shares for one (1) post-consolidated share for every ten (10) pre-consolidated shares. There are no other material information respecting the Company’s affairs to report.

Until the Required Documents have been filed, the Company intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing bi-weekly default status reports in the form of further press releases for so long as the Company remains in default of the financial statement filing requirement.

ON BEHALF OF THE BOARD OF DIRECTORS OF  

TUT Fitness Group Inc.  

“Robert Smith”  

Robert Smith, CEO  

Contact: robs@tutfitnessgroup.com 

Forward-looking Statements: This news release may contain certain statements that may be deemed “forward-looking  statements”. All statements in this release, other than statements of historical fact, that address events or  developments that the Company expects to occur, are forward looking statements. Forward-looking statements are  statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”,  “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or  conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements in this document include  statements regarding the timing of the Company’s annual filings. Although the Company believes the expectations  expressed in such forward-looking statements are based on reasonable assumptions, such statements are not  guarantees of future performance and actual results may differ materially from those in forward-looking statements. 

Neither the 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.