Mr. Darcy Bomford reports

MAVEN BRANDS INC. SUBSIDIARY ENTERS INTO AGREEMENT TO SELL SUBDIVIDED LAND TO VILLAGE OF LUMBY

Maven Brands Inc.'s wholly owned subsidiary, Maven Enterprises Inc., has entered into a contract of purchase and sale dated June 17, 2025, with the Village of Lumby (the purchaser), pursuant to which the company will sell to the purchaser a subdivided portion of the company's property located in the Village of Lumby for aggregate consideration equivalent to approximately $3.25-million.

The consideration to be provided by the purchaser includes:

• The undertaking and completion by the purchaser of subdivision works and services valued at approximately $3.2-million;
• The concurrent transfer to the company of certain lands owned by the purchaser with a fair market value of $50,000.

The transaction is conditional upon the successful subdivision of both the company's and the purchaser's parent parcels, which is expected to be completed on or before June 30, 2026. The subdivision is intended to allow for the consolidation of various parcels, vesting of new roads and Crown lands, and the transfer of subdivided lots between the parties.

As part of the transaction:

• The purchaser will assume responsibility for all subdivision-related works, services and associated costs.
• The company will convey good, marketable title to the land, free of financial encumbrances other than permitted encumbrances.
• The first mortgage holder over the company's property has agreed to contribute $409,018.99 toward outstanding property taxes to facilitate the subdivision.

The company will deliver vacant possession of the land to the purchaser on the completion date. All required subdivision approvals and registrations must be obtained prior to closing, failing which the agreement may be terminated.

The company confirms that it is a GST registrant and will self-assess any applicable taxes under the Excise Tax Act (Canada).

The transaction is subject to all customary closing conditions, including regulatory and third party approvals as may be required. The company does not anticipate obtaining shareholder approval as the transaction does not constitute a reviewable disposition under policies of the applicable securities regulations, stock exchange polices or the company's corporate statute.

Failure to file cease trade order

The company is currently in default of its continuous disclosure obligations under National Instrument 51-102 -- Continuous Disclosure Obligations and is subject to a cease trade order (CTO) issued by the British Columbia Securities Commission dated Oct. 6, 2023. The CTO remains in effect pending the filing of the required financial statements and MD&A (management's discussion and analysis). There is no assurance that the company will be able to reinstate its continuous disclosure record or satisfy the requirements for resumption of trading in the future.