PSO.P Picasso (Tier2)

Picasso Inc. (the "Corporation" or "Picasso") (TSX VENTURE:PSO.P), a capital
pool company, is pleased to announce that Canaccord Capital Corporation, subject
to completion of satisfactory due diligence, has agreed to act as sponsor in
connection with the Corporation's proposed reverse take-over transaction of
Blackline GPS Inc. ("Blackline") and Blackline GPS Employee Retention Corp.
("EmployeeCo") as its Qualifying Transaction (the "Transaction"). An agreement
to sponsor should not be construed as any assurance with respect to the merits
of the Transaction or the likelihood of completion. Trading in the common shares
of the Corporation will remain halted until certain required documents have been
provided to the TSX Venture Exchange Inc. (the "Exchange") in regards to the
sponsor.


Completion of the transaction is subject to a number of conditions, including
but not limited to, Exchange acceptance and if applicable pursuant to Exchange
requirements, majority of the minority shareholder approval. Where applicable,
the transaction cannot close until the required shareholder approval is
obtained. There can be no assurance that the transaction will be completed as
proposed or at all.


Investors are cautioned that, except as disclosed in the management information
circular or filing statement to be prepared in connection with the transaction,
any information released or received with respect to the transaction may not be
accurate or complete and should not be relied upon. Trading in the securities of
a capital pool company should be considered highly speculative.


The offered securities mentioned in this press release will not be registered
under the United States Securities Act of 1933, as amended (the "U.S. Securities
Act") and may not be offered or sold within the United States or to, or for the
account or benefit of U.S. persons except in certain transactions exempt from
the registration requirements of the U.S. Securities Act.


This new release shall not constitute an offer to sell or the solicitation of an
offer to buy any securities in any jurisdiction.

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