Mr. Richard Zhou reports

BLOCKCHAIN VENTURE CAPITAL INC. ANNOUNCES CLOSING OF PRIVATE PLACEMENT, SHARES FOR DEBT TRANSACTION, AND NEW DIRECTOR

Blockchain Venture Capital Inc.'s non-brokered private placement offering previously announced on Nov. 17, 2023, has closed. The company issued a total of 1,422,000 units at a price of 50 cents per unit for aggregate gross proceeds of $711,000. Each unit comprised one common share and one-half non-transferable share purchase warrant, with two one-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 private placement.

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 the company to carry out its CADT-related business.

The company also announces that it intends to issue to a consultant 540,000 shares at a price of 50 cents per share in connection with an agreement for the full and final satisfaction of a $305,100 debt owing to the consultant.

The company is completing the shares-for-debt transaction to improve its financial position by reducing liabilities.

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

The company also announces that Yongbiao (Winfield) Ding has resigned as a director of the company, effective Nov. 30, 2023, and the corporation's board of directors has accepted his resignation. The board has appointed Marc Kealey to the board to serve as an independent director, effective Dec. 6, 2023.

Mr. Kealey has over 30 years experience in business and advocacy. He is president of K&A Inc., a public policy and business management firm located in Mississauga, Ont., Canada, since 2007, where he has been active globally in project management and public policy issues, including prescription drug reform, smoke-free legislation, cannabis regulation and cross-border health care initiatives. Prior to K&A, Mr. Kealey served as chief executive officer of Ontario Pharmacists' Association, the largest professional organization serving the interests of pharmacists in Canada from February, 2004, to September, 2007. Prior to his role in pharmacy, Mr. Kealey served as general manager at Atomic Energy of Canada Ltd. from June, 1999, to February, 2004, where he led the Candu technology team in Asia and Europe; he led AECL interface with governments where Candu nuclear reactors were either in operation or under construction, and integrated health care system delivery with projects in Qinshan, China, and Cernavoda, Romania. Mr. Kealey sits on the University of Waterloo's school of pharmacy advisory board, and sits on a number of boards in the for-profit and not-for-profit sectors, including the Canada India Foundation, and the Jamaica Disaster Relief and Resilience Initiative in Jamaica, and Wounds Canada. He was made a knight in the Order of France in 2017 for his global work in humanitarian efforts particularly in Franco-Africa. Mr. Kealey is a graduate of St. Jerome's University at the University of Waterloo, and attended Kent State University in Ohio and Queen's University in Kingston, Ont.

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 the company'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. BVCI'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 the company receives 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 that the company will be able to pursue its proposed CADT business or any related BvcPay business that relies on CADT.

We seek Safe Harbor.