Extension agreement debt settlement closed

Earthworks Industries Inc. (the “Company”) has completed the issuance of Units under an amended debt settlement agreement with North Bay Corp. (“North Bay”), previously announced in a news release dated October 12, 2023. The issuance of the Units reduces the buy-out option the Company has in extinguishing the approximately U.S. $5,900,000 debt, owed to North Bay to U.S. $2,150,000. The current buy-out payment date has been extended to April 15, 2024.