Mr. Justin Rosenberg reports

BLOCKMATE VENTURES ANNOUNCES PRIVATE PLACEMENT CAPITAL RAISING

Blockmate Ventures Inc. intends to issue, by way of a non-brokered private placement, common shares of the company at a purchase price of at a price of five cents per unit for gross proceeds of up to $800,000 (representing 16 million units). Each unit consists of one common share, and one common share purchase warrant exercisable to acquire a further common share at a price of 7.5 cents within 36 months of the closing date.

Blockmate expects the offering to close on or about June 9, 2023.

The net proceeds of the offering will be for general working capital and no commission, finder's fee or similar payment will be paid by the company in connection with the offering.

Completion of the offering is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The TSX-V has not approved the offering price and this remains subject to change. The common shares will be subject to a statutory hold period of four months plus one day from the closing date, in accordance with applicable securities legislation.

It is expected that certain Insiders (as such term is defined under the policies of the TSX-V) of the company may participate in the offering. The participation of insiders in the offering will constitute a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The corporation intends to rely upon exemptions from the formal valuation and minority approval requirements of MI 61-101.

About Blockmate Ventures Inc.

Blockmate Ventures is a Web3 incubator/venture creator focusing on businesses that utilize blockchain technology and decentralization to provide greater utility, accessibility and sustainability around everyday services. Working with prospective founders, projects in incubation can benefit from the Blockmate ecosystem that offers tech, services, integrations, digital assets and advisory to accelerate the incubation of projects toward monetization.

We seek Safe Harbor.