Mr. Richard Zhou reports

BLOCKCHAIN VENTURE CAPITAL INC. PROVIDES CORPORATE UPDATE AND ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Through collaboration with its counsel and its principal regulator, Blockchain Venture Capital Inc. plans to obtain appropriate approvals from its principal regulator that will allow Blockchain Venture Capital to carry out its CADT related business. The application is expected to be made by Q1 2024. Once the company obtains appropriate approvals from the applicable securities regulators 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 crypto trading platform that is authorized under applicable securities laws to trade CADT.

The company intends to complete a non-brokered private placement of up to 1,422,000 units at a price of 50 cents per unit for aggregate gross proceeds of up to $711,000. Each unit comprises one common share and one-half non-transferable share purchase warrant, with two half warrants entitling the holder to purchase one additional share at a price of 75 cents for a period of 24 months from the date of closing of the offering.

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 applicable regulatory approvals to permit Blockchain Venture Capital 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.

Blockchain Venture Capital 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 Capital'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 Capital's CADT business division is expected to issue CADT, a cryptographic stablecoin supported on a 1:1 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.

Unless and until Blockchain Venture Capital the necessary regulatory approvals or unless it can rely on an exemption from the prospectus and registration requirements in furtherance of the issuance and trading of CADT, there is no assurance Blockchain Venture Capital will be able to pursue its proposed CADT business or any related BvcPay business that relies on CADT.

We seek Safe Harbor.