Mr. Darcy Bomford reports

MAVEN BRANDS INC. PROVIDES MANAGEMENT CEASE TRADE ORDER UPDATE

Maven Brands Inc. has provided a biweekly default status report in accordance with National Policy 12-203 -- Management Cease Trade Orders.

On July 14, 2023, the company confirmed that it had applied to the British Columbia Securities Commission (BCSC), under NP 12-203, requesting that a temporary management cease trade order (MCTO) be granted in respect of the anticipated late filing of the company's annual audited financial statements, management's discussion and analysis, and officers' certificates for the year ended March 31, 2023. On Aug. 2, 2023, the company confirmed the MCTO had been granted by the BCSC on Aug. 1, 2023. The company continues to work with its auditor to complete its annual filings.

The company confirms there have been no undisclosed material business developments, since its most-recent news release on Aug. 15, 2023, regarding the status of its continuous disclosure filings, that have not been otherwise disclosed by the company by way of news release, and there has been no failure by the company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203.

During the MCTO, the company confirms that it will comply with the provisions of the alternative information guidelines set out in NP 12-203 for as long as it remains in default, including the issuance of biweekly default status reports, each of which will be issued in the form of a news release. Further, if the company provides any information to any of its creditors during the period in which it is in default of filing the annual financial statements, the company confirms that it will also file material change reports on SEDAR+ containing such information.

The MCTO restricts all trading in securities of the company, whether direct or indirect, by the chief executive officer, the chief financial officer and the directors of the company until such time as the annual filings have been filed by the company and the MCTO has been lifted. The MCTO does not affect the ability of shareholders who are not insiders of the company to trade their securities. However, the applicable Canadian securities regulatory authorities could determine, in their discretion, that it would be appropriate to issue a general cease trade order against the company affecting all of the securities of the company.

We seek Safe Harbor.