UPCO Upco International Inc

Upco International Inc. Announces Closing of Financing

Vancouver, British Columbia--(Newsfile Corp. - January 25, 2020) - Upco International Inc. (CSE: UPCO) (OTC Pink: UCCPF) (FSE: U06) ("Upco") is pleased to announce that its financing of up to 6,000,000 units at $0.10 per unit announced on October 14, 2019 was oversubscribed. As a result Upco increased the offering from up to $600,000 to $745,503.20. Upco has now closed the second and last tranche of the financing raising a combined total of $745,503.20. Pursuant to the second tranche, Upco has issued 2,955,032 units at $0.10 per unit for gross proceeds of $295,503.20. Each unit consists of one share and one-half of one common share purchase warrant ("Warrant") where each whole Warrant entitles the holder to purchase one additional common share ("Warrant Share") at an exercise price of $0.15 per Warrant Share for a period of 4 years. The securities are restricted from trading until May 21, 2020. Bardi Co. was paid a finder's fee of $5,450 in connection with the second tranche. The proceeds will be used for general working capital.

About Upco International Inc.

Upco International Inc. is a cloud-based mobile service company which provides high-quality voice termination to a market driven by the growing activity in online communications and commerce. Upco is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to SKYPE and WhatsApp. With the forthcoming addition of the Upco E-Wallet using Blockchain Payment Services, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments. The application will also allow vendors to securely share account information with their clients.

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ON BEHALF OF THE BOARD OF DIRECTORS

Andrea Pagani, CEO and Director

212-461-3676

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively "forward- looking information") within the meaning of applicable securities laws. Forward- looking information is typically identified by words such as: "will" "may" "believe", "expect", "anticipate", "intend", "estimate", "development", "forthcoming", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. Upco cautions investors that any forward-looking information provided by Upco is not a guarantee of future results or performance.

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EN
25/01/2020

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