Mr. Darcy Bomford reports

MAVEN BRANDS INC. ANNOUNCES FAILURE TO FILE CEASE TRADE ORDER

The British Columbia Securities Commission (BCSC) has notified Maven Brands Inc. that the company's request to extend the management cease trade order issued under National Policy 12-203 -- Management Cease Trade Orders (NP 12-203) and announced Aug. 2, 2023, has been denied. The BCSC has issued a failure-to-file cease trade order (FFCTO) against the company which orders that general trading, whether direct or indirect, by any person, of the securities of the company cease, which includes trading of the shares of the company on the Canadian Securities Exchange. The FFCTO has been issued against the company for failure to file its audited annual financial statements for the year ended March 31, 2023, and unaudited interim financial statements for the period ended June 30, 2023, and accompanying management's discussion and analysis and certificates for each in the time period required.

As a result of the FFCTO, a person or company must not trade in or purchase a security of the company in a jurisdiction where the company is a reporting issuer and where Multilateral Instrument 11-103 -- Failure to File Cease Trade Orders in Multiple Jurisdictions applies, except in accordance with the conditions set out in the FFCTO. In addition, the FFCTO is effective in each jurisdiction in Canada that has a statutory reciprocal order provision, subject to the terms of the local jurisdiction.

Despite the FFCTO, a beneficial security holder of the company who is not currently (and who was not as of the date of the FFCTO) an insider or control person of the company, may sell securities of the company acquired before the date of the FFCTO if both of the following apply: (i) the sale is made through a "foreign organized regulated market," as defined in Section 1.1 of the Universal Market Integrity Rules of the Investment Industry Regulatory Organization of Canada, and (ii) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation.

The company expects the FFCTO to remain in place until such time as the documents have been filed and the FFCTO is revoked. There is no assurance that the company will be able to remedy its filing default and have the FFCTO rescinded in a timely manner or at all.

The company confirms that there is no other material information concerning the affairs of the company that has not been generally disclosed as of the date of this press release.

The company's management and board of directors are working diligently to ensure the completion of the audit and filing of the documents. The company will make further announcements with respect to the status of the documents as and when appropriate.

We seek Safe Harbor.