TUGA Innovations Launches NFT Marketing Program – 12/20/2022

Announces an online promotional event to be held in Dubai on December 20

VANCOUVER, BC and LISBON, PORTUGAL – December 20, 2022 – TUGA Innovations, Inc. (CSE: TUGA) (FSE: DQ5) (OTC: TUGAF) (“TUGA Innovations” or the “Company”), a company incorporated with the TUGAa new type of electric vehicle (“EV”) that develops solutions to urban mobility challenges, is pleased to announce that the company has entered into an agreement with NFT specialists BACD.IO and eTUGA.io to manufacture and market an eTUGA utility token completed.

The BACD.IO (https://www.bacd.io/) and eTUGA.IO (www.etuga.io) has developed an integrated service to market the planned eTUGA utility token launch alongside a new TUGA Augmented Reality (AR) app that will allow users to experience any TUGA vehicle in a personalized augmented reality environment.

Online event information

An online event will be held live from Dubai, United Arab Emirates on Tuesday, December 20 at 9 a.m. ET to provide more information. Those interested can participate via Zoom. Please note, however, that the number of participants is limited.

https://us02web.zoom.us/j/86205626329?pwd=RnNxa0tSeVhURVVOaFBmNFNuMk5v …

Event ID: 862 0562 6329

Password: 773502

For more information, visit our website (www.tugainnovations.com). Also download our app, which is also available in the google play store or in Apple App Store
is available.

The launch of the eTUGA utility token will enable participation in the TUGA program by providing access to a variety of services under special conditions and environments. For more information, visit the eTUGA website (https://www.etuga.io/).

Under the TUGA program, progress has been made in the design and development of the engineering, electronics, software and design of the innovative three-wheeled, all-electric, two-seater vehicle TUGA. Literally no wider than a motorcycle, the TUGA is very manoeuvrable; a patent-pending extendable rear axle provides high-speed stability. Plus, an extendable frame provides excellent passenger and cargo access. The concept behind the vehicle is to provide advanced connectivity technology with an estimated range of 160 km at speeds of up to 140 km/h and more protection than a motorcycle in a platform that allows bodies and interchangeable features.

John Hagie, CEO of TUGA Innovations, explains: “We have brought together great partners with eTUGA.IO and BACD.IO to bring our project to market in an innovative way. With this concept, we are positioned to increase our market reach using blockchain technology and provide new opportunities for the public to participate in our development.

For the Board of Directors,

Sincerely,

~John Hagie~

John Hagie

Chairman and Chief Executive Officer and Director

TUGA Innovations, Inc.

As part of the Company’s disclosure requirements as a public issuer, financial reports and principal reports may be viewed under the Company’s profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at the address www.sedar.com be viewed. We invite the public to our website www.tugainnovations.com to visit and subscribe to our “News Alerts” to be informed of the next news and events. Please see our Video which is now available on the site and follow us instagram, Twitter and LinkedIn.

About TUGA Innovations, Inc. (CSE: TUGA) (ESF: DQ5) (OTC: TUGAF)

TUGA Innovations is a development-stage electric vehicle company focused on the design, engineering and production of specialized electric vehicles to improve urban mobility. The company wants to solve the difficulties of urban mobility by developing a Line
by 100% electric 3-wheel vehicles with 2 seats. Vehicle is no wider than a motorcycle for agility and features a patent-pending extendable rear axle for high-speed stability and patent-pending retractable landing gear for comfort passengers. The vehicle will feature advanced connectivity technology to provide optimal safety, performance, environmental impact, comfort, maintenance and navigation. Designed for an estimated range of 160 km and an estimated top speed of 140 km/h, the TUGA vehicle offers the comfort of a car and more protection than a motorcycle. It rests on an interchangeable and multifunctional platform with different bodies. You can find out more about: https://tugainnovations.com/check out our Video and follow us instagram, Twitter and LinkedIn.

Further information is available from:

TUGA Investor Relations

Tel: +1 415.799.7911

E-mail: info@tugainnovations.com

Forward-looking statements

This press release contains statements and information that, if not historical facts, may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information may include financial and other projections, as well as statements about future economic plans, objectives or performance, or underlying assumptions. In some cases, forward-looking statements are qualified by words such as “objective”, “aim”, “may”, “would”, “could”, “will”, “likely”, “expect”, ” anticipate”, “proposed” “believe”. ‘, ‘intention’, ‘intent’, ‘forecast’, ‘plan’, ‘estimate’, ‘prospect’ ‘hope’, ‘have potential’ or the negative thereof or other similar expressions relating to facts , which are not historical facts. Examples of such statements include, but are not limited to, statements about addressing driving issues in, between, and around city centers and metropolitan areas, the launch and creation of the eTUGA utility token, and expected benefits. of it; providing participation in the TUGA program via the eTUGA utility token; the launch of the TUGA Metaversum app and associated features, including a virtual test drive; the commercialization of the company’s vehicle concepts, including the development of a range of vehicles, the design of the vehicle, including three-wheel drive, number of seats, an optional set of advanced communication and navigation functions vehicle width, extended vehicle rear axle and expected passenger comfort and load capacity, advanced vehicle connectivity features and expected benefits, range and maximum vehicle speed, as well as as the safety, performance and comfort of the vehicle.

Forward-looking information is based on management’s assumptions, estimates, analyzes and opinions made in light of management’s experience and perception of trends, current conditions and expected developments and other factors that management deems relevant and reasonable at the time such statements are made, which, however, may prove to be untrue. Important factors and assumptions used in preparing the forward-looking information contained in this press release include, but are not limited to, the continued commitment of key personnel and qualified employees to the Company, the Company’s ability to obtain additional financing on reasonable terms, the conditions of competition in the industries in which the company operates and the laws applicable to the company and their amendments.

Forward-looking information involves known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of the Company to differ materially from the results, performance or achievements expressed or implied by the forward-looking information. , including, without limitation, risks relating to the future business plans of the Company; the risks that the Company may not be able to retain its key personnel; the risks that the Company may not be able to obtain financing on reasonable terms or at all; and all other risks described in the Company’s final prospectus dated November 30, 2021 under the heading “Risk Factors”. Accordingly, readers should not place undue reliance on such forward-looking information. Further, any forward-looking information speaks only as of the date on which it is made. New factors arise from time to time and it is not possible for management to update them all by anticipating such factors and anticipating the impact of each such factor on the Company’s business or the extent to which any factor or combination of factors could cause actual results to differ materially from those contained in the forward-looking information which the Company undertakes no obligation to update the forward-looking information to conform to information or events after the date to which they are made or to reflect the occurrence of unforeseen events, except as required by law, including by the Securities and Exchange Commission.

The CSE accepts no responsibility for the adequacy or accuracy of this press release.

The source language (usually English) in which the original text is published is the official, authorized and legal version. This translation is included for better understanding. The German language version may be abridged or summarized. No responsibility or liability is accepted for the content, accuracy, adequacy or correctness of this translation. From the translator’s point of view, the report does not constitute a recommendation to buy or sell! Please refer to the original message in English www.sedar.com, www.sec.gov, www.asx.com.au/ or on the company’s website!

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The TUGA Innovations stock is currently showing a plus of +5.95 % and a rate of 0.089USD negotiated.

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