Mr. Clayton Moore reports

NETCENTS TECHNOLOGY RELEASES A STATEMENT IN RESPONSE TO BCSC NOTICE OF HEARING

NetCents Technology Inc. is reaffirming its commitment to regulatory compliance in response to the British Columbia Securities Commission (BCSC) notice of hearing.

Initially, the company was advised not to discuss BCSC matters, but with this recent announcement by the BCSC, the company confirms its ability to be fully transparent and provide all relevant information. For over half a decade, NetCents has navigated through a series of challenges presented by the BCSC. Despite diligently responding and providing all information required by the commission, the company has encountered a lack of affirmative support. As a Canadian company at the forefront of innovation in the cryptocurrency sector, this lack of engagement has been disheartening.

The company holds on record a written acknowledgment from the BCSC confirming that its operations were not deemed an illegal exchange prior to the implementation of new registration requirements, announced by the BCSC on Aug. 15, 2022, for all cryptocurrency exchanges -- a registration the company was actively undertaking until it officially closed the NC Exchange in January, 2023 -- a process that the company undertook with the guidance of the BCSC. In September, 2022, the company pro-actively contacted the BCSC, communicating the company's intention to cease exchange operations to ensure that it remained within its obligations as an exchange.

The protracted nature of this engagement, spanning almost five years, has seen the company continually reaching out to the BCSC to address and resolve these matters, including the release of funds to the coin holder. The company's efforts to establish a dialogue, however, have been met with silence for the past two years.

Despite the absence of positive reinforcement from the regulatory body, NetCents remains undeterred in its mission. The company continues to seek a resolution and advocate for its cause and the coin holders, fortified by the belief in the importance of its work and the value it brings to its users and the industry.

NetCents is prepared to present its case on the scheduled date and will defend its position with the full expectation of a fair and just process. The company anticipates that the outcome will reflect its dedication to compliance and the innovative spirit that drives the company.

As of today, the company continues to be subject to a cease trade order and is working diligently to complete the annual financial statements for the fiscal year ended Oct. 31, 2021, and the fiscal year ended Oct. 31, 2022.

About NetCents Technology Inc.

NetCents Technology, the transactional hub for all cryptocurrency payments, equips forward-thinking businesses with the technology to seamlessly integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the crypto market. NetCents Technology is registered as a money services business with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada).

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