Mr. Michael Romanik reports

ANACOTT ACQUISITION CORPORATION AND RAMP METALS INC. ANNOUNCE RECEIPT OF TSXV CONDITIONAL APPROVAL FOR QUALIFYING TRANSACTION

The TSX Venture Exchange has conditionally approved Anacott Acquisition Corp.'s previously announced reverse takeover transaction with Ramp Metals Inc. pursuant to a merger agreement dated effective July 28, 2023, between the company, Ramp and 1429494 B.C. Ltd., a wholly owned subsidiary of Anacott, which will constitute the qualifying transaction (as such term is defined in Policy 2.4 -- Capital Pool Companies of the Corporate Finance Manual of the TSX-V) of the company.

Upon completion of the Transaction, the common shares of the resulting issuer from the Transaction (the "Resulting Issuer") are expected to trade on the TSXV under the symbol "RAMP".

For further details regarding the Transaction, please refer to the Company's filing statement in respect of the Transaction dated effective March 6, 2024, which is available on the Company's SEDAR+ profile (the "Filing Statement").

Concurrent Financing

In connection with the Transaction, and further to the Company's press release dated January 23, 2024, on February 7, 2024, Ramp completed the second tranche of a non-brokered private placement (the "Concurrent Financing") in which Ramp issued and sold 425,000 subscription receipts (each, a "Ramp Subscription Receipt") to certain investors at a price of $0.20 per Ramp Subscription Receipt for proceeds of $85,000. Each Ramp Subscription Receipt is convertible into one unit of Anacott (an "Anacott Unit") immediately prior to the closing of the Transaction. Each Anacott Unit will consist of one post-Consolidation (as defined below) common share of Anacott (each, an "Anacott Share") and one-half of one share purchase warrant, with each whole warrant exercisable into one post-Consolidation Anacott Share at a price of $0.35 per Anacott Share for a period of 24 months. Ramp did not pay any finder's fees in connection with the second tranche closing.

In total, Ramp raised gross proceeds of $1,194,856 through the issuance and sale of an aggregate of 5,974,280 Ramp Subscription Receipts in the Concurrent Financing.

Upon completion of the Transaction, the Resulting Issuer intends to use the net proceeds from the Concurrent Financing as described in the "Ramp Concurrent Financing" section of the Filing Statement.

Closing

Assuming all conditions to the closing of the Transaction are satisfied, the Parties anticipate closing the Transaction during the week of March 18, 2024. In due course, the Parties will issue a further press release announcing the closing of the Transaction and the date on which the common shares of the Resulting Issuer will begin trading.

In connection with the Transaction, the Company will, among other things, complete a previously announced consolidation of the Anacott Shares (the "Consolidation") on the basis of 1.7603584 pre-Consolidation Anacott Shares for one (1) post-Consolidation Anacott Share and change its name to "Ramp Metals Inc.".

Additional Information

The Transaction is not a "Non-Arm's Length Transaction" (as that term is defined in the policies of the TSXV), and as such, shareholder approval from Anacott is not required for the Transaction.

Trading in the common shares of the Company is presently halted and will remain halted until completion of the Transaction.

Completion of the Transaction is subject to a number of conditions, including the final approval of the TSXV, and there can be no assurance that the Transaction will be completed as proposed or at all.

About Ramp Metals Inc.

Ramp is a battery and base metal exploration company with two flagship properties located in northern Saskatchewan and one property in Nye County, Nevada. The management team is passionate about green field exploration and new technologies. The vision of Ramp is to make the next big discovery required to fuel the green technology movement.

About Anacott Acquisition Corporation

Anacott is a capital pool company (as defined in the policies of the TSXV) listed on the TSXV having been incorporated under the Canada Business Corporations Act. Anacott has no commercial operations and no assets other than cash.

We seek Safe Harbor.