Mr. Christopher Cherry reports

ADAGIO CAPITAL INC. PROVIDES FURTHER UPDATE ON PROPOSED QUALIFYING TRANSACTION WITH ADVANCED GRAPH ENTERPRISE DATABASE INC.

Adagio Capital Inc. has provided a further update with respect to its previously announced proposed qualifying transaction involving the acquisition of all of the issued and outstanding securities of Advanced Graph Enterprise Database Inc. (AGEDB), a private arm's-length British Columbia company, pursuant to an amalgamation agreement among the company, AGEDB and 1441651 B.C. Ltd. (NewCo), a newly incorporated subsidiary of the company.

The company, AGEDB and NewCo are continuing to progress toward the completion of the qualifying transaction. On Jan. 17, 2024, the parties entered into a further amendment agreement to extend the completion deadline (as defined in the agreement) to Feb. 29, 2024.

For more information on the qualifying transaction, please see the company's news releases dated June 1, 2023, Aug. 30, 2023, Oct. 10, 2023, and Dec. 5, 2023.

About Advanced Graph Enterprise Database Inc.

AGEDB is a private company based in Vancouver, B.C., with a primary focus on developing and delivering cutting-edge graph database management system (DBMS) software and technology. AGEDB's innovative approach allows for graph data processing on graph DBMS, a unique feature not available in the market until now. AGEDB aims to empower users of relational DBMS with enhanced analysis capabilities, enabling them to uncover valuable insights from the connections and relationships between data points. The management team of AGEDB comprises individuals with extensive experience in the graph database market.

AGEDB possesses the core technologies of Apache AGE, one of the biggest and most influential open-source graph database projects in the world. AGEDB is a subsidiary of Bitnine Global Inc., which is a wholly owned subsidiary of Bitnine Co. Ltd., the leading provider of graph database management systems in Korea. AGEDB and Bitnine Global have entered into a licensing agreement for the use of three intellectual property (IP) patents owned by Bitnine Global that AGEDB can use in software development as well as providing for exclusive global distributions rights (excluding Korea) for any software products developed and derived from the three IP patents.

About Adagio Capital Inc.

Adagio is a British Columbia based company and a reporting issuer in the provinces of British Columbia and Alberta. Adagio focuses on strategic investments in high-growth sectors, aiming to create long-term value for its shareholders.

Additional information

All information contained in this press release with respect to the company and AGEDB was supplied, for inclusion herein, by the respective parties and each party and its directors and officers have relied on the other party for any information concerning the other party.

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

Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the qualifying transaction, any information released or received with respect to the qualifying 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.

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