An anonymous director reports

BLOCKCHAIN VENTURE CAPITAL INC. ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Blockchain Venture Capital Inc. has closed its non-brokered private placement offering previously announced on Oct. 21, 2022, Dec. 16, 2022, and April 21, 2023. In the final tranches of its private placement, the company issued a total of 492,000 common shares and 1.08 million units, each at a price of $1.25, with each unit composed of one share and one-half of a warrant, for total gross proceeds of $1,965,000. Each warrant issued as part of a unit will be exercisable for one share at an exercise price of $1.50 for a period of 24 months from the date of issue. The company issued an aggregate of 2,398,134 shares and 540,000 warrants under the private placement for aggregate gross proceeds of $2,997,667.50.

The company intends to use the proceeds from the private placement to finance corporate expenditures and general working capital purposes in respect of the development of the company's BvcPay platform and CADT, including expenditures related to seeking applicable regulatory approvals in respect of dealer registrations to permit Blockchain Venture to carry out its CADT related business.

All securities issued under the private placement will be subject to a hold period expiring four months and one day from the date of issuance.

About Blockchain Venture Capital Inc.

Blockchain Venture is an Ontario incorporated company and is registered as a money service business with the Financial Transaction and Reports Analysis Centre of Canada (FINTRAC). It is a provider of an innovative technology infrastructure to participants in the emerging blockchain and distributed ledger technology industry. Instrumental to Blockchain Venture's business and growth strategy is BVC chain, a proprietary blockchain platform and distributed ledger technology, which can operate as a centralized or decentralized ledger. BVC chain was designed to be a turnkey solution, which can be customized and implemented by organizations wishing to deploy blockchain-platform-based solutions, products or services. BVC chain will also serve as the platform and infrastructure for BvcPay and CADT. BvcPay is a cloud-based mobile application that is intended to have the capability to function as a digital currency wallet and which can facilitate point-of-sale and on-line transactions using bitcoin, ethereum and CADT. CADT is the native digital currency of the BVC chain, and it is intended to be a stablecoin. Blockchain Venture's CADT business division is expected to issue CADT, a cryptographic stablecoin supported on a one-for-one basis with an equivalent amount of Canadian dollar held in a custodial account. CADT is expected to support real-time pricing, payment, settlement, digital asset issuance and ledger capabilities.

To allow Blockchain Venture to carry out its CADT related business, Blockchain Venture filed an application on June 17, 2021, to obtain registration as an exempt market dealer in accordance with applicable securities laws in Ontario, Alberta and British Columbia. Such application is pending, and there is no assurance that Blockchain Venture will obtain such registration. Unless and until the company is registered under applicable securities laws for purposes of carrying out its CADT related business, or the company is otherwise satisfied that it can conduct such business in compliance with all applicable securities laws, it intends to have all its CADT trading occur through a dealer (through the BVC chain) that is registered in a category of registration under applicable securities laws which permits CADT to be traded through it, which dealer arrangement is subject to finalization. Accordingly, there is no assurance Blockchain Venture will be able to pursue its proposed CADT business or any related BvcPay business that relies on CADT.

We seek Safe Harbor.