Mr. Craig Fraser reports

BEACN ANNOUNCES Q3 RESULTS

Beacn Wizardry & Magic Inc. has increased its gross profit margin 52 per cent (2023: 40 per cent) due to the introduction of a higher-margin product (Beacn Studio) and an increase in the share of direct-to-consumer sales on its Shopify platform. Revenue in the quarter was down compared with the past year due to a stockout on its bestselling Beacn Mic in the United States from mid-July, 2024, to mid-August, 2024.

The nine-month period achieved revenue of $2,268,241, an increase of more than 14 per cent (2023: $1,981,810), and gross profit of $960,820 (42 per cent) (2023: gross profit of $827,732 (42 per cent)) and a net loss of $1,214,966 (2023: loss of $1,708,863). Further information is available from the company's financial statements for the nine months ended Sept. 30, 2024, available under the company's profile on SEDAR+.

"Our goals for the year included improving profit margin and bringing new product to the market. Achieving these goals in [third] is a significant step towards our goal," said Beacn chief executive officer Craig Fraser.

Beacn plans to add more business-to-business sales partners and expects to see strong consumer sales in the final quarter of 2024.

About Beacn Wizardry & Magic Inc.

Beacn, based in Victoria, B.C., is a consumer electronics company, and develops innovative audio equipment, peripherals and technology for gamers, live streamers and content creators. Beacn is committed to delivering premium products that enable everyone to produce studio-quality content. Beacn's award-winning product ecosystem includes Beacn Mic, Beacn Mic Stand, Beacn Mix and Beacn Mix Create. Beacn is listed on the TSX Venture Exchange under the symbol BECN.

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