Mr. Anthony Brown reports

AMPD VENTURES EXPANDS ON STRATEGIC REORGANIZATION

AMPD Ventures Inc. has provided an update on its continuing internal reorganization.

As announced on March 15, AMPD Ventures determined that it was in the best interest of shareholders to refocus its attention and resources on digital content creation studios and services to support the continued growth of, and the opportunity represented by, its majority-owned subsidiary, Departure Lounge Inc.

To that end, AMPD Ventures is pleased to announce that it continues to work toward the completion of the acquisition of a world-leading, profitable animation and performance capture studio, as announced on Jan. 5. AMPD Ventures believes that the target company provides significant synergistic benefits with Departure Lounge and technology know-how developed to date and that the target company's long-term, proven record of success with some of the largest players in the industry will put the AMPD Ventures group on a sustainable path of profitability. As announced, the acquisition is expected to be financed through long-term low-cost bank debt and shares, at terms which management believes are beneficial to shareholders.

"The acquisition, as outlined in the non-binding letter of intent announced in January, would be transformative for the company," said Anthony Brown, interim chief executive officer at AMPD Ventures. "Combining the early successes of the Departure Lounge studio, such as the CIMA award-winning Monstercat music video, The Dark, with a studio that has a decade-long track record of successful film, television and video game projects, helps bring our next-generation content creation technology to the industry with a company that has a long-term, proven track record of success."

In light of the reorganization and to further reduce the AMPD Ventures group's monthly cash burn, AMPD Ventures' subsidiary, AMPD Technologies Inc., has made a voluntary assignment into bankruptcy under the Bankruptcy and Insolvency Act (Canada). Crowe and MacKay Inc. has been appointed as AMPD Technologies' trustee in bankruptcy. AMPD Ventures' board of directors has determined that bankruptcy is in the best interests of AMPD Technologies and its stakeholders. This process, which will help AMPD Ventures focus on areas where growth is strongest, is not expected to directly impact AMPD Ventures' relationships with its creditors or other counterparties.

AMPD Ventures maintains certain important vendor relationships, such as the cloud service provider (CSP) partnership with Nvidia, which has seen massive recent increases in value due to its focus on artificial-intelligence-based computing solutions, including for the creative industries. AMPD Ventures plans to embrace a full range of generative AI solutions as it continues to develop its offerings for digital content creation studios and services. AMPD Ventures seeks to have certain contracts underlying these partnerships assigned from AMPD Technologies to AMPD Ventures. AMPD Ventures remains committed to its core values of innovation, excellence and integrity, and does not believe that the bankruptcy of AMPD Technologies will affect the ability of AMPD Ventures to be successful in its long-term business plans.

"While we believe that the underpinning computing required for digital content creation studios like Departure Lounge is a key differentiator for AMPD Ventures, we must focus on building cutting-edge, multitechnology studios and the pipeline of customers interested in building new virtual production facilities such as the announced Bangkok, Thailand, facility being built for Cloud 11 with the services of AMPD," said Mr. Brown.

Executives and employees of AMPD Ventures will continue to be contactable at their @ampd.tech e-mail addresses as it begins the migration over to an AMPD Ventures domain. The AMPD Ventures website will be reinstated as soon as practical.

About AMPD Ventures Inc.

AMPD Ventures is focused on building the world's best suite of tools and technologies for digital content creation and distribution. AMPD Ventures enables companies to enter the next era of the Internet through its global-leading metastage facility.

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