Kuuhubb Announces Closing of Acquisition of Sumoing Oy, Creator of Recolor

Toronto, Ontario and Helsinki, Finland--(Newsfile Corp. - August 18, 2017) - Kuuhubb Inc. KUU ("Kuuhubb" or the "Company") is pleased to announce that it has completed the previously announced acquisition of all of the outstanding shares of Sumoing Oy for a total purchase price of €9,000,000.

Recolor, which is the leading coloring book application globally, is a Helsinki-based game development studio that specializes in lifestyle genre apps tailored to a female audience. The application has more than 23 million all-time downloads and over 60 million monthly coloring tasks generating in excess of US$1 million in monthly user subscription revenues.

According to Tero Kuittinen, Chief Strategist of Kuuhubb, Recolor is the most polished, high-quality digital coloring book on mobile and includes over 1,500 art illustrations and unique 3D content. It's easy, smooth and ideal for on-the-go-relaxation. A simple, intuitive user interface combined with beautiful color palettes and illustrations give the user a stress-relieving coloring experience. Recolor uniquely provides style themes to finalize the user's creation before sharing with others in an active, fast growing creative community within the Recolor application.

"Recolor represents an important step as we expand into women's lifestyle apps and gamified social communities. The funding of the acquisition via our recent C$17.2 million equity financing brought a distinguished group of institutional investors, strategic partners and family offices into the Kuuhubb fold. We are extremely grateful for the support of our shareholders and excited to welcome new investors. We are also proud of the Kuuhubb and Recolor team," says Jouni Keränen CEO and Christian Kolster Co-Founder of Kuuhubb Inc.

About Kuuhubb

Kuuhubb is a company active in the digital space that focuses mainly on lifestyle and mobile video game applications. Its strategy is to create sustainable shareholder value through acquisitions of proven, yet underappreciated, assets with robust long-term growth potential. Headquartered in Helsinki, Finland, the Company has a global presence with a strong focus on developing U.S. brand collaborations and Asian partnerships.

Cautionary Note Concerning Forward-Looking Information

This press release contains forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the business of Sumoing Oy, revenue generated by Recolor and downloads of the Recolor application) are forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, risks related to the growth strategy of the Company, the early stage of the Company's development, competition from companies in a number of industries, the ability of the Company to successfully enter new markets and manage international expansion, future business development of the Company and the other risks disclosed under the heading "Risk Factors" in the Company's Filing Statement dated May 30, 2017 filed on SEDAR at www.sedar.com. Forward-looking information speaks only as of the date on which it is provided and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange Inc. has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release.

For further information, please contact:

Kuuhubb CEO, Jouni Keränen
jouni@kuuhubb.com
+358 40 590 0919
www.kuuhubb.com