UPDATE: Zoompass Issues Statement About Literature In the Market Concerning Its Common Stock

TORONTO, ONTARIO--(Marketwired - May 26, 2017) -

This release, issued today at 8:45 AM ET, is being re-issued solely for the purpose of indexing.

Zoompass Holdings Inc. ("Zoompass" or the "Company") (OTC PINK:ZPAS) announces that it has been made aware of certain literature and social media content in the market place which contains negative and incorrect information, which the Company has not been asked to clarify nor confirm, promoted by third parties unrelated to the Company. These promoters include contributors to websites such as www.seekingalpha.com and others who are paid by such websites or other third parties and whom, we believe, profit from such misinformation.

We previously advised in our May 11, 2017 press release to not rely on certain third party positive promotional activities of which we became aware. We now similarly advise to not rely on negative promotional activities. This misinformation includes representations about the continuing nature of the promotional activities we referenced in our May 11, 2017, press release, which representations could only be known by those promoters, as well as mistakes about the management team. We reiterate that the Company's Chief Executive Officer is Jack Robert Lee ("Rob Lee"), and has filed a 10-K/A to that effect with the Securities and Exchange Commission. Mr. Lee has used no other name, and Mr. Lee has been disclosed in the Company's OTC certification dated December 7, 2016, and whose biographical information is disclosed in the Company's 10-K, in previous 8-K filings and on the Company's website.

"We urge our investors and future investors to review our filings and seek independent financial, tax and legal advice before investing, and to not rely on promotional materials, whether positive or negative," advised our CEO Rob Lee, "and we believe in the gains the Company has made and we share our investors' enthusiasm about our future."

The Company continues to encourage anyone considering an investment in our securities to review our public filings, website and press releases, and their own personal financial advisors, and to not rely on third party newsletters/recommendations, websites or general stock symbols/classifications or other identifiers regarding our securities, whether positive or negative, as these items are simply opinions/policies of a third party. These third parties are, in many instances, paid by the publisher or other third parties and the Company believes that they profit from the publication of this literature and the results on the market. These materials should not be a substitute for investors' research and independent decision making process.

About Zoompass Zoompass is a leading financial services technology company with a unique place in the Fintech space as both a financial platform provider with divisions in physical prepaid cards, financing enablement, and mobility products. Zoompass provides businesses and government tailored solutions to help digitize their financial transactions. In the card sector, Zoompass offers complete program management services for a wide range of open loop Visa® and MasterCard® prepaid and virtual card accounts. Zoompass enables businesses to provide their customers with a number of open loop card choices including, gift card, incentive cards, check replacement cards and online virtual card accounts. The company also provides advanced mobile technology, enabling businesses to provide their customers with a white label mobile wallet solution, like Zoompass, with the ability to manage their card balances, bill pay, transfer funds and perform card to card money transfers in real time using their mobile devices. Zoompass's mobile device division helps carriers and mobile device manufacturers integrate the financial platform technology into their offerings. For more information about Zoompass, visit www.zoompass.com.

Safe Harbor:

From time to time, the Company may issue news releases that contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. Forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause actual financial or operating results, performances or achievements expressed or implied by such forward-looking statements not to occur or be realized. Forward-looking statements made in this press release generally are based on our best estimates of future results, performances or achievements, predicated upon current conditions and the most recent results of the companies involved and their respective industries. Forward-looking statements may be identified by the use of forward-looking terminology such as "may", "will", "could", "should", "project", "expect", "believe", "estimate", "anticipate", "intend", "continue", "potential", "opportunity" or similar terms, variations of those terms or the negative of those terms or other variations of those terms or comparable words or expressions. Potential risks and uncertainties include, among other things, such factors a general economic conditions, the fulfillment of sales orders, delivery of product, the impact of legislation and the competition within our industry.