Mr. Justin Rosenberg reports

BLOCKMATE VENTURES COMPLETES SALE OF MIDPOINT BUSINESS

Blockmate Ventures Inc. has completed the divestiture of Midpoint, its cross-border payments and foreign exchange business, to the management team, led by David Wong, Expadis, and its group of investors. In consideration for the divestiture, Midpoint management will assume responsibility for all liabilities and obligations associated with the business as well as operational expenses associated with maintaining its operations.

The divestiture will allow the company to focus on higher-growth technology investments, and is expected to reduce annual net cash outflows by approximately $500,000. The company is at arm's length from Mr. Wong, and no finders' fees or commissions were paid in connection with completion of the divestiture.

Justin Rosenberg, chief executive officer of Blockmate, said: "We wish David and the rest of the Midpoint team every success as they take Midpoint forward. This sale allows Blockmate to better capitalize on the exciting trajectory of its current assets in the fast-growing sectors of blockchain and climate technology: Hivello and Bess Power Innovation Corp. (subject to exchange approval). We expect to update the market with progress in both companies within the next couple of months."

About Blockmate Ventures Inc.

Blockmate Ventures is a venture creator focusing on building fast-growing technology businesses relating to cutting-edge sectors such as blockchain, climate and energy storage. Working with prospective founders, projects in incubation can benefit from the Blockmate ecosystem that offers tech, services, integrations and advice to accelerate the incubation of projects toward monetization. Recent projects include Hivello and Sunified, digitizing solar energy.

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