FLORIDA: OCTOBER 15, 2020: Megola Inc. (OTC-PINK MGON) Megola, Inc. (“MGON”, “Company”) is a Consortium Group of Health Technologies and Service Company. Megola through product and technology acquisitions has grown to have its own E-commerce Branding Division, Service Department, Licensing Division, Franchise Division all maintaining Megola’s diverse manufactured product portfolios which allows the company to integrate into several vertical sales markets worldwide. Megola controls every aspect from manufacturing to distribution of all the patented product lines giving it the best-case scenario in every competitive market space.

On August 24, 2020, the Board of Directors of the Company appointed Mr. Mark Suchy to serve as a member of the Board.

Mr. Mark Suchy is a seasoned entrepreneur with thirty plus years of experience in the private and public sectors with a strong understanding of business investment and finance at all levels. Mark’s broad knowledge working with diverse markets has resulted in the nurturing of productive business relationships throughout the Midwest and most recently on the Gulf Coast of Florida. With a well established and very dynamic network of talented business professionals and his association with public and privately held companies producing cutting edge product lines has led to his current association with Megola, Inc.

On August 24, 2020, the Board of Directors of the Company appointed Mr. Samuel Chiang to serve as a member of the Board.

Mr. Samuel Chiang has over thirty-two years of experience in product development, commercialization and marketing, as well as extensive cross-cultural exposure in senior management positions. Over the years, he has consistently created solutions and led diverse groups to achieve common goals in global environments. Samuel has expertise in new product commercialization, global team building, market development and sales training, as well as rich silicone knowledge for various industrial applications including chemicals, oil and gas, plastics, rubber, paper, pulp, food, lubricants, textile, electrical, electronics, personal home-hold care, auto care and construction markets. Invented active patents and owner of patent ideas and trademarks.

On October 1, 2020, MGON entered into a Purchase and Sale of Business Assets Contract with SCAR Capital LLC, in which MGON has agreed to purchase certain intellectual property and technology; patent pending 16/027697, referred to by Seller as the “Stink Genie”, a deodorizing sanitizing ozone unit, for the purchase price of Ninety Thousand Dollars ($90,000), payable as follows: (1) Seventy Thousand Dollars ($70,000) cash for 100% of current inventory owned by SCAR of the Stink Genie, and any related items; and (2) twenty thousand (20,000) shares of MGON Series F Preferred Stock, valued at $1.00 per share.

Additionally, on October 8, 2020, MGON entered into a Purchase and Sale of Business Assets Contract with Balanced2Day (B2D), a Florida corporation, wherein MGON purchased business assets of B2D for the total price of $40,000 payable in $20,000 cash and the issuance of twenty thousand (20,000) shares of MGON Series F Preferred Stock, valued at $1.00 per share.

On October 19, 2020, the Board of Directors appointed Mr. John MacLeod and Mr. Paul Cohen to serve on the Company’s Advisory Board.

Mr. Paul Cohen, originally from Toronto Ontario, is the founder of Balanced2Day and built the company on the belief that the road to recovery begins with natural solutions and proudly stands behind the healing powers of Hemp extract. Balanced2Day is the leading Premium Hemp Extract brand designed for athletes and individuals leading an active lifestyle. He believes Hemp Extract should be available to all those in need as an alternative way of life at an affordable price.

Before devoting his work full-time to optimize everyday performance and challenge individuals to rethink the healing process by creating products that promote wellness, balance and recovery with Balanced2Day, Paul played professional hockey for 11 years, owned and operated Goalie and Hockey camps in North American and Europe and worked at 15 years PepsiCo.

Paul is a performance-Driven customer sales professional who excels in fast-paced and highvolume accounts. Creative and effective leader in the implementation of the company’s goals and objectives. He has an outstanding track record of business and customer and is recognized for excellence in cultivating new business, generating sales, driving marketing and building outstanding customer relationships. Extremely efficient at analyzing and solving customer and business problems with varying degrees of complexity. Passionate about operating with honesty, integrity and being highly responsive to deliver an unsurpassed level of customer satisfaction.

Mr. John MacLeod brings with him a broad range of experience, including management, consulting, strategic planning, accounting, IT, Internet marketing and more. His business life started when he took on a contract to modernize and computerize an accounting & consulting firm. John developed a working relationship that resulted in being hired full-time and working there for the next 13 years. This position exposed him to an ever-expanding list of roles and responsibilities which included managing personnel, maintaining the computer systems, accounting, training
clients and office personnel, and offering consulting services for various business clients.

The first website John created, and sold, was in 1996; he continues to expand his knowledge in website development, SEO, email marketing, marketing funnels, and social media marketing.

Additionally, John worked for over a decade as a Certified Energy Auditor advising clients on energy saving strategies and submitting their files to Natural Resources Canada to qualify for government rebates.

COVID-19 Pandemic: The recent COVID-19 pandemic could have an adverse impact on the Company going forward. COVID-19 has caused significant disruptions to the global financial markets, which severely impacts the Company’s ability to raise additional capital and to pursue certain contracts. The Company may be required to substantially reduce operations or cease operations if it is unable to finance our operations. The full impact of the COVID-19 outbreak continues to evolve as of the date of this report and is highly uncertain and subject to change. Management is actively monitoring the situation but given the daily evolution of the COVID-19 outbreak, the Company is not able to estimate the effects of the COVID-19 outbreak on its operations or financial condition in the next 12 months.

Forward-Looking Statements

The statements contained in this release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursuant,” “target,” “continue,” and similar expressions are intended to identify such forward-looking statements. The statements in this press release that are not historical statements, including statements regarding MGON’s plans, objectives, future opportunities for MGON’s services, future financial performance and operating results and any other statements regarding MGON’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts, are forward-looking statements within the meaning of the federal securities laws. These statements are not guarantees of future performance and are subject to numerous risks, uncertainties, and assumptions, many of which are beyond MGON’s control, and which could cause actual results to differ materially from the results expressed or implied by the statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict, and include, without limitation, results of litigation, settlements and investigations; actions by third parties, including governmental agencies; volatility in customer spending; global economic conditions; ability to hire and retain personnel; loss of, or reduction in business, with key customers; difficulty with growth and integration of acquisitions; product liability; cybersecurity risk; and, anti-takeover measures in our charter documents. Any forward-looking statement is made only as of the date of which such statement is made. Except as otherwise required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.