Calgary, Alberta--(Newsfile Corp. - May 4, 2020) - PreAxia Health Care Payment Systems Inc. (OTC Pink: PAXH) ("PreAxia" or the "Company") announces that pursuant to Alberta Securities Commission Blanket Order 51-517 ("Blanket Order"), it is postponing the filing of its interim financial statements, management's discussion and analysis, and officers' certificates for the period ended February 29, 2019 (the "Interim Filings"), due to delays related to the COVID-19 pandemic.

The temporary exemptive relief granted by the Blanket Order allows PreAxia to delay filing the Interim Filings required by National Instrument 51-102 due April 29, 2020, by up to 45 days.

PreAxia estimates that it will file the Interim Filings on or before June 15, 2020. Until the documents are filed, Company management and insiders are subject to an insider trading blackout policy that reflects the principles in section 9 of National Policy 11-207 (Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions).

There have been no material business developments since the date of the last interim financial reports filed January 21, 2020, other than events disclosed in news releases issued subsequent to that date and available on SEDAR ().

For further information, please contact:

Tom Zapatinas
President/Chief Executive Officer
Telephone: 403 850-4120

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