-Company steps into the metaverse with functional marketing

VANCOUVER, British Columbia and LISBON, Portugal, Sept. 27, 2022 (GLOBE NEWSWIRE) — TUGA Innovations, Inc. (CSE: TUGA) (FRA: DQ5) (OTC: TUGAF) (“TUGA Innovations”, or the “Company”), which is developing solutions for urban mobility challenges with the TUGA, a new type of electric vehicle (“EV”), is pleased to announce it has made the leap across the digital divide from urban mobility into the metaverse through the efforts of its in-house digital marketing team.

The founders of TUGA Innovations have integrated the magic of augmented reality (“AR”) and virtual reality (“VR”) through the power of artificial intelligence into a practical tool for experiential product marketing. With the growing interest in the metaverse, the Company’s marketing efforts will offer an end-user experience through a digitally enhanced journey of its lineup of all-electric urban mobility vehicles as an essential integrated component to the sales and marketing process.

TUGA Innovations VR and AR promotional tools will soon be available in the Quest store for VR goggles, and as an AR App available through the Apple IOS store and Google Play store.

Edmundo Nobre, Digital Director at TUGA Innovations states, “We’ve been able to develop AR and VR tools thanks to the expertise of our Partner Aromni. We are delivering TUGA virtual tools so that the public can experience our vehicles before our vehicles are launched.”

The VR promotional tool offers the public unique ways to experience the TUGA vehicle platform features, including the operations of the innovative canopy, expandable chassis, retracting rear axle, and onboard electronics, which are demonstrated when using Quest VR goggles. All TUGA models in development will be available for viewing, including the Thunder, Falcon, Commuter, Deliver, Cargo, and Pickup configurations via online access at the Quest Store. Salespersons, dealers, and potential customers can explore the vehicle in-depth while simultaneously projecting the Quest goggle imagery onto a screen for display purposes.

The AR promotional tool has similar functionality but is available as a downloadable application on smart phones and tablet devices. Sales and marketing representatives along with potential customers can easily visualize any of the TUGA models geolocated withing their own city and can include friends or family enjoying a journey featuring the stylish Thunder and Falcon interiors. The technology demonstrates the many features and benefits exclusively developed by TUGA through extensive real-time AR scenes of the vehicle in action.

Cesar Barbosa, VP and Co-Founder of TUGA Innovations adds, “Subject to final testing, our vehicle development team is scheduled to launch our fully engineered commercial prototype in Q4 of 2022 or Q1 of 2023. Our VR and AR promotional tools are designed to demonstrate our digital expertise and to launch our promotional efforts in earnest. We believe a modern vehicle needs a modern and immersive marketing effort that truly demonstrates what we have created. We think this is an exciting approach and look forward to building interest with our VR and AR promotional tools.”

The digital team brings substantial knowledge, expertise, and access to a broad industry network involved in metaverse development. The team members are pioneers in the digital innovation space as holders of several individual and joint technology patents and as project designer/implementors for several Fortune 500 companies.

The TUGA fully electric fore-and-aft 2-seat vehicle aims to address the many challenges faced when driving in, between, and around urban centres and metropolitan areas. The vehicle is no wider than a motorcycle for agility and boasts a patent pending expanding rear axle for stability at higher speeds and a patent-pending expanding length vehicle chassis system offering a unique backwards movement of the rear part of the vehicle to enable improved passenger and/or cargo access. The TUGA platform is being designed to offer multiple body styles initially identified as the TUGA Commuter, TUGA Deliver and TUGA One concepts.

Company CEO John Hagie notes, “These innovative tools position us at the convergence of the metaverse and online marketing. Today, we plan to commence with a suite of promotional tools and tomorrow we hope to develop online feedback and interest from metaverse users that may even aid in the creation of future vehicle components, features, and benefits. What better way to organically grow than by having the end-users integrated into the process? Digital functionality is in our DNA, and we aim to establish and consolidate our leadership position in the digital space as part of our ongoing commitment to value creation.”

On behalf of the Board of Directors,

Sincerely,

~John Hagie~

John Hagie

Chief Executive Officer & Director

TUGA Innovations, Inc.

As part of the Company’s disclosure obligations as a public issuer, ongoing financial and material filings can be found under the Company’s profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com. We invite the public to visit our website at www.tugainnovations.com and to sign up to our “news alerts” to be advised of future news and events. Please watch our video which is now available on the website, and follow us on Instagram, Twitter, and LinkedIn.

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

TUGA Innovations is a development-stage electric vehicle company undertaking the conception, design, and production of specialized EVs to improve the urban mobility experience. The Company is looking to reduce urban mobility difficulties by developing a family of three-wheeled, fully electric fore-and-aft 2-seat vehicles. The vehicle is no wider than a motorcycle for agility and offers a patent pending expanding rear axle for high-speed stability along with a patent pending expandable chassis designed for passenger comfort. The vehicle will offer advanced connectivity technology to maximize safety, performance, environmental impact, comfort, maintenance, and navigation. The TUGA vehicle is being designed to deliver an estimated 160 km range, have an estimated top speed of 140km/hour with the comforts of a car, and with more protection than a motorcycle in an interchangeable multi-body, multi-function platform. Find out more at: https://tugainnovations.com/, watch our video, and follow us on Instagram, Twitter, and LinkedIn.

For further information, please contact:

TUGA Investor Relations

Tel: +1 415.799.7911

Email: info@tugainnovations.com

Forward-Looking Statement

This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “aim”, “aims to”, “aiming to” “may”, “would”, “could”, “will”, “will be” “likely”, “expected”, “anticipated”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, “hope”, “the potential to”, “look forward” or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the Company’s product development efforts, the Company’s marketing efforts offering an end-user experience through its lineup of all-electric urban mobility vehicles; TUGA Innovations VR and AR promotional tools being available soon in the Quest store, Apple IOS store, and Google Play store; the Company launching its vehicles; all TUGA models in development being available for viewing, including the Thunder, Falcon, Commuter, Deliver, Cargo, and Pickup configurations via online access at the Quest Store; the Company launching its fully engineered commercial prototype in Q4 of 2022 or Q1 of 2023; the Company building interest with promotional tools; the Company developing online feedback and interest from metaverse users to aid in the creation of future vehicle components, features, and benefits; the Company establishing and consolidating its leadership position in the digital space as part of its ongoing commitment to value creation; the Company offering an innovative, high-end, high-quality approach to urban mobility concerns; the Company addressing challenges faced when driving in, between, and around urban centres and metropolitan areas; the Company dedicating vehicles aimed at the delivery service segment; the Company offering a uniquely-tailored solution in the rapidly changing automotive sector; and the Company’s commercialization of its automotive concepts, including the width of the vehicle, the expanded rear axle feature of the vehicle, multiple body styles for the vehicle, the expanding length vehicle chassis system of the vehicle, the advanced connectivity features of the vehicle and their anticipated benefits, the km range and top speed of the vehicle, and the protection and platform offered by the vehicle.

Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; the Company’s ability to secure additional financing on reasonable terms; the competitive conditions of the industries in which the Company operates; and laws and any amendments thereto applicable to the Company.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future 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; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company’s final prospectus dated November 30, 2021 under the heading “Risks Factors.” Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.

The CSE does not accept responsibility for the adequacy or accuracy of this release.