Investors

Vancouver, BC. Aug 3, 2017, Ted Konyi, CEO, Smartcool Systems Inc. (TSXV: SSC) is pleased to announce today the initiation of a funded sales program. The program has been designed to provide funding for clients that want to install Smartcool’s proprietary energy efficiency products but lack the capital budget to do so.

Nick Weedon, Smartcool’s UK National Sales Manager stated, "Having successfully installed in numerous locations in the UK over the last 12 months, we have seen that clients are keen to expand the Smartcool technology across further sites and locations because the Smartcool technology has had a positive effect in driving down energy costs. Because of this, we have decided to implement a funding programme that we expect to allow clients to reap the benefits of the Smartcool technology without experiencing the usual restrictions and unnecessary delays typically associated with large scale capital requirements."

"The appreciable level of interest from several key clients with whom we have discussed our proposed funding program has encouraged us to move it forward. Existing key partners have already started to introduce this to their clients. We believe that reviewing our current sales opportunities can accelerate sales and exceed ambitious company targets for the balance of the year."

We are confident that a funding program should provide the opportunity for many clients to see immediate net cash flow, as we believe that energy savings should be greater than term payments.

In order to fund the new initiative, Smartcool Systems Inc. is announcing today the commencement of a non-brokered private placement (the "Offering") of up to 5,000 units (each a "Unit") at a price of $1,000 per Unit to raise a total of up to $5,000,000. Each Unit to be comprised of one 8% unsecured non-convertible debenture (each, a "Debenture") and 1000 common shares (each, a "Common Share") of the Company.

The Company intends to use the net proceeds from the Offering to finance installations of its proprietary control technologies in the energy efficiency sector as part of its overall growth strategy.

The Debentures will bear interest at a rate of 8% per annum, payable monthly in arrears and is anticipated to mature on December 31, 2020 (the "Maturity Date"). The Debentures will be non-convertible, non-redeemable and non-transferable. The Debentures partially comprising the Units are not and will not be listed on any stock exchange or market. The Common Shares of the Corporation are listed on the TSX Venture Exchange and trade under the symbol "SSC". The Common Shares comprising the Units will be subject to resale restrictions imposed by law, including a regulatory resale restriction for four months and one day from their date of issuance.

The Company has engaged Ascenta Finance Corp. to effect sales of the Units or to find purchasers of the Units. The Corporation has agreed to pay a selling commission or finder's fee to Ascenta of 8% cash and 8% broker warrants of the gross proceeds from the sale of Units to purchasers introduced by Ascenta.

Marshall Farris, President of Ascenta Finance Corp. commented, "The current appetite for financial yield products with investors is very high. By matching investors that are looking for income with companies looking for energy savings, Smartcool will be creating a real win-win scenario. We at Ascenta look forward to assisting the company with this funding program."

Completion of the Offering is subject to the Company closing on a minimum of $200,000 on or prior to September 30th, 2017. The Company intends to make the Offering by way of private placement in Canada but the Units may be offered in other jurisdictions where they can be issued exempt from any prospectus, registration or other similar requirements.

The Offering is subject to certain conditions including, but not limited to, the approval of the TSX Venture Exchange.

The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This document shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Smartcool
Smartcool Systems Inc. (TSX-V: SSC) provides cutting edge energy efficient and energy cost reduction solutions for businesses around the world. The ECO3 and ESM are Smartcool's unique retrofit technologies that reduce the energy consumption of compressors in air conditioning, refrigeration and heat pump systems by 15% to 20%, giving customers a return on investment in as little as 12 months.

About Ascenta
Ascenta Finance Corp. is a private, independent Canadian institutional investment bank headquartered in Vancouver, British Columbia. It is committed to financing and aiding emerging small-cap companies and focus on transactions in the range of $1 million to $25 million.

Ascenta Finance Corp. is registered as an Exempt Market Dealer with the British Columbia, Alberta, Saskatchewan, Manitoba and Ontario Securities Commissions and is a member of the Private Capital Markets Association of Canada and the National Exempt Market Association.

On behalf of Smartcool Systems Inc.

Theodore Konyi, President
604.669.1388
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Mike Kordysz
Vice President, Investor Relations
604.904.8632
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For more information about the Offering, please contact:

Ascenta Finance Corp.
Marshall Farris, President
604.637.6373
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Legal Notice Regarding Forward Looking Statements
This news release contains “forward looking statements”. Forward-looking statements are projections of financial performance or future events. Forward-looking statements can be identified by the use of words such as "expect", "anticipate", "intend", "plan", "believe", "estimate" and words of similar meaning. Forward-looking statements are based on management’s current expectations and assumptions and they are subject to risks that may cause actual results to differ materially from those expressed or implied by such forward looking statements. Forward-looking statements in this news release include those concerning the company’s belief in the growth opportunities in the United States. These statements are subject to risks that may cause the actual results to be materially different in future periods from those expressed or implied by such forward looking statements. Risks that may prevent or delay the forward looking statements from coming to fruition as anticipated include the availability of working capital, risks inherent in product development, as well as market factors that may increase costs or time to market. It is our policy not to update forward looking statements except to the extent required under applicable securities laws. Further information on the Company is available at www.sedar.com or at the Company’s website, www.smartcool.net.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Investor Inquiries

Mike Kordysz
Tel: +1 604 904 8632
mike.kordysz@smartcool.net
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