Mr. Tom Wenz reports

IMPACT DEVELOPMENT GROUP ANNOUNCES DELAY IN FILING OF ANNUAL FINANCIAL STATEMENTS AND EXPECTED CEASE TRADE ORDER PENDING COMPLETION

Impact Development Group Inc. has faced a delay in the filing of its audited annual financial statements, management discussion and analysis, and related chief executive officer (CEO) and chief financial officer (CFO) certifications for the financial year ended Dec. 31, 2023, such filings due by April 29, 2024. The company was not able to complete the annual filings on time as the company's auditor requires more time to complete the audit of the financial statements.

As a result of the delay, the company will be noted in default by applicable securities regulatory authorities in Canada and expects that the Ontario Securities Commission (OSC), as principal regulator, will issue a failure-to-file cease trade order (CTO) in accordance with the principles and guidance set out in National Policy 12-307, Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions, of the Canadian Securities Administrators. The CTO will prohibit any direct or indirect trading in securities of Impact Development Group for so long as it remains in effect, in all Canadian jurisdictions in which the company is a reporting issuer as well as certain other Canadian jurisdictions based on the provisions of local securities legislation and will remain in effect until after the annual filings have been filed. The CTO will result in a suspension of the company's common shares from trading on the TSX Venture Exchange and continue until the CTO is revoked and all TSX-V requirements are satisfied.

The company intends to file the annual filings as soon as practicable and is working diligently to facilitate the completion of the annual filings with the auditor. The company will provide updates if and when necessary, in accordance with applicable securities laws.

We seek Safe Harbor.