Mr. Lance Tracey reports

LANEBURY PROVIDES UPDATE ON LOANS

Lanebury Growth Capital Ltd. has combined and extended the maturity of existing loans the company has with Code Consulting Ltd. and amended the maturity of the existing loans with Mobio Technologies Inc. and Plank Ventures Ltd.

Combination of loans from Code, change of interest rate and extension of the maturity date

The company has entered into an agreement with Code to combine the following existing loans, as of Jan. 1, 2024, into a single new promissory note:

• Promissory note with the principal amount of $600,000 carrying 10-per-cent interest originally entered on July 20, 2022;
• Promissory note with the principal amount of $500,000 carrying 10-per-cent interest originally entered on Oct. 11, 2022;
• Promissory note with the principal amount of $700,000 carrying 12-per-cent interest originally entered on June 21, 2023;
• Promissory note with the principal amount of $3,483,604 carrying 12-per-cent interest originally entered on Sept. 30, 2023.

The maturity date of the four loans was Dec. 31, 2023. The due date of the new combined loan shall be June 30, 2024, and the new interest of the combined loan shall be 12 per cent annually.

Amendment of loan to Mobio and extension of the maturity date

The company has entered into an amending agreement with Mobio to extend the maturity date of the promissory note with the principal amount of $200,000 carrying 12-per-cent interest, originally entered on June 22, 2023. The original maturity date of the loan to Mobio was Dec. 31, 2023, the new due date shall be June 30, 2024. For more information about the loan to Mobio, please refer to the company's news release dated June 23, 2023.

Amendment of loan to Plank and extension of the maturity date

The company has entered into an amending agreement with Plank to extend the maturity date of the promissory note with the principal amount of $4,308,251 carrying 12-per-cent interest, originally entered on Sept. 30, 2024. The original maturity date of the loan to Plank was Dec. 31, 2023, the new due date shall be June 30, 2024. For more information about the loan to Plank, please refer to the company's news release dated Oct. 3, 2023.

The loan from Code is a related party transaction pursuant to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Lance Tracey is the beneficial owner of Code, a director of Lanebury, and a control person of Lanebury and Plank, and, as such, Mr. Tracey has abstained from voting with respect to the loan from Code.

With respect to the loan from Code, Lanebury relied on the exemption from the valuation requirement pursuant to Section 5.5(b) (Issuer Not Listed on Specified Markets) of MI 61-101 and from the minority shareholder approval requirement prescribed by Section 5.7(1)(f) (Loan to Issuer, No Equity or Voting Component) of MI 61-101.

There is no undisclosed material information by Lanebury. Lanebury has at least one independent director, and all independent directors approved the loan from Code.

About Lanebury Growth Capital Ltd.

Lanebury is an investment company with an investment strategy focused on building a portfolio of high-quality investments in technology start-ups. The company primarily targets investments that have a monthly revenue model and can be scaled easily using Internet and mobile technologies.

We seek Safe Harbor.