BPLI Holdings (TSX-V: BPLI) and its subsidiary Bluedrop Training & Simulation (“Bluedrop”) are pleased to announce that it has signed a Technology Leadership Project Agreement as part of the Canadian Ocean Supercluster’s Accelerated Ocean Solutions Project to deliver its innovative Hoist Mission Training System (HMTS) for full crew Search and Rescue (SAR) helicopter mission simulation over marine environment.

This project will deliver a new device and capability to train SAR operators under realistic mission scenarios including turbulent flow zones, sea state, complex ship and offshore installation geometries and rescue rafts while simulating the full array of east coast Canada and arctic harsh environmental conditions.

With a total project value of $2,058,616, the Ocean Supercluster will provide $1,029,308 in funding for the project with the balance in funding coming from industry. The Marine SAR Helicopter Mission Simulation Project is led by Bluedrop Training and Simulation partnered with Cougar Helicopters and the Marine Institute of Memorial University of Newfoundland to offer the new hoist simulator training for all SAR operators requiring specialized training in marine, offshore oil and gas, arctic and general harsh ocean operating environments.

With nearly seventy per cent of search and rescue occurring in marine environments, this project will directly increase the safety of personnel working in ocean sectors and improve the quality of decision making and operational intelligence of real-time marine operations. This will represent the first training device to provide realistic simulation of performing a hoist over oceans, various support vessels and offshore platforms, using state of the art virtual simulation that leverages data analytics and Artificial Intelligence to provide best in class, real-time feedback and adaptive learning for ocean rescue activity with global applications.

Canada’s Ocean Supercluster is an industry-led transformative cluster focused on tackling the shared challenges across ocean sectors through a collaborative program designed to accelerate the development and commercialization of globally-relevant solutions, while also building a highly-capable, inclusive workforce. To encourage innovation and trigger new industry investment during these challenging times, the Ocean Supercluster supplemented its core programs with an additional project stream called Accelerated Ocean Solutions Program (AOSP). This enables the development of smaller projects on a shorter timeline that deliver tangible outcomes, while continuing to build resiliency in our ocean sectors.

“I am thrilled to see Canada’s Ocean Supercluster building such momentum, adding three new and highly-innovative projects to its Accelerated Ocean Solutions Program. By investing in Made-in-Canada technologies and solutions, like the Marine SAR Helicopter Mission Simulation Project, Superclusters are energizing the ocean sector ecosystem, which is really exciting for Canada. This kind of cross-sector collaboration is what will make the difference in pushing Canada further in the ocean technology market.” The Honourable Navdeep Bains, Minister of Innovation, Science, and Industry

“By working together, Bluedrop Training and Simulation, Cougar Helicopters, and the Marine Institute of Memorial University of Newfoundland will develop and commercialize the first device to leverage data analytics and Artificial Intelligence in the delivery of realistic and adaptive training for marine search and rescue teams. We are excited to see our members come together to collaborate and solve shared ocean challenges.” Kendra MacDonald, CEO, Canada’s Ocean Supercluster

‘The project will enable Bluedrop to offer a new Sikorski S92 Hoist Mission Training Simulator (HMTS) for all SAR operators requiring specialization in arctic, offshore and marine operations. The expertise of each team member will provide a new training service and will guarantee quality training and state-of-the-art virtual simulation technology to meet this operational requirement.” Derrick Rowe, CEO of Bluedrop Training & Simulation.

“The HMTS will be installed at Cougar Helicopter’s facility in St. John's, where Cougar’s team of professionals provide 24/7/365 SAR capabilities to its offshore oil and gas clients using a dedicated and specially configured Sikorsky S92 helicopter. Cougar’s operational experts will help define new training qualification and safety standards.” Hank Williams, COO of Cougar Helicopters

“The graduate students and postdocs from Memorial University of Newfoundland who will be contributing to this project will have the unique opportunity to benefit from industry collaboration experience. Students will be primarily housed in the Ocean Safety Lab at the Marine Institute of Memorial University of Newfoundland. A diversity of students are actively being recruited including qualified female, aboriginal and ethnically diverse candidates.” Dr. Heather Carnahan, MI, School of Maritime Studies.

About Bluedrop Training & Simulation

Bluedrop Training & Simulation designs and develops advanced training systems and state-of-the-art simulation products to safely train operators and maintainers of complex equipment. Our approach leverages innovative technology to provide cost-effective blended-media training content, from classroom instruction and computer-based training (CBT) through to high-fidelity training devices. Bluedrop Training & Simulation is a small to medium-sized enterprise (SME) providing a strong value proposition offering 100% Canadian designed and developed solutions.

For more information about Bluedrop Training & Simulation, visit www.bluedropts.com

About BPLI Holdings Inc.

BPLI Holdings Inc. (TSX-V: BPLI) is the holding company for its investments in Bluedrop Training and Simulation and Bluedrop Learning Networks. Our companies are innovators in both the development of workplace e-learning and simulation as well as the way large organizations deliver, track and manage training. Our two divisions serve the world’s leading aerospace and defence organizations as well as broad cross sections of organizations focused on managing system wide health and safety and developing the skills of external workforces. BPLI is creating the workforce of the future by improving the effectiveness, speed and cost of training delivery and management. For more information, visit www.bpli.ca. You can follow us on Twitter: @Bluedrop_BPL.

This news release may contain "forward-looking information" as defined in applicable Canadian securities legislation. All statements, other than statements of historical fact included in this release, including, without limitation, statements regarding the impact of the operational restructuring and future plans and objectives of the Corporation, constitute forward-looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the operational efficiencies associated with the integration of technological and financial systems and general economic and market conditions. There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information.

Important factors that could cause actual results to differ materially from BPLI's expectations include general global economic conditions, including but limited to, the ongoing COVID-19 pandemic. For additional information with respect to risk factors applicable to BPLI, reference should be made to BPLI's continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, BPLI's Management’s Discussion and Analysis of Results of Operations and Financial Condition for the quarter ended June 30, 2020. The forward-looking information contained in this release is made as of the date of this release and BPLI does not undertake to update publicly or revise the forward-looking information contained in this release, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Neither the 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.

Bernie Beckett Treasurer & Corporate Secretary BPLI Holdings Inc. berniebeckett@bluedrop.com Phone: 709-739-4938

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