Mr. Cale Moodie reports

NEPTUNE COMMENCES NORMAL COURSE ISSUER BID

Further to Neptune Digital Assets Corp.'s March 21, 2024, news release, it has obtained TSX Venture Exchange approval to commence its normal course issuer bid (NCIB) with respect to its common shares through the facilities of the exchange or alternative trading systems commencing April 2, 2024.

Under the terms of the NCIB, the company intends to purchase for cancellation up to 11,350,727 common shares, representing 10 per cent of the public float (as defined by the exchange). Purchases in any 30-day period are restricted to a maximum of 2 per cent of the total number of outstanding common shares. The NCIB may extend until April 1, 2025, unless the maximum amount of common shares is purchased before then or Neptune provides earlier notice of termination.

The purchase and payment for the common shares will be made by Neptune through the facilities of the exchange or alternative trading systems. All purchases by the company under the NCIB will be made through Haywood Securities Inc., as broker dealer of the company, and all common shares purchased under the NCIB will be cancelled. The price paid for the common shares will be, subject to NCIB pricing rules contained in securities laws, the prevailing market price of such common shares on the exchange at the time of such purchase. Neptune intends to finance the purchases out of available cash and working capital.

Neptune has commenced the NCIB because it believes that the market price of the common shares may not, from time to time, fully reflect their value and accordingly, the purchase of the common shares would be in the best interest of the company and an attractive and appropriate use of available funds. It is expected that any purchases made by the company could also enhance value and liquidity for its shareholders.

To the knowledge of Neptune, no director, senior officer or other insider of the Neptune currently intends to sell any common shares under the NCIB. However, sales by such persons may occur if the personal circumstances of any such person changes or any such person makes a decision unrelated to these NCIB purchases. The benefits to any such person whose common shares are purchased would be the same as the benefits available to all other holders whose common shares are purchased.

About Neptune Digital Assets Corp.

Neptune Digital Assets is one of the first publicly traded blockchain companies in Canada and is at the forefront of the cryptocurrency and blockchain landscape. Neptune engages in operations across the digital asset ecosystem, including bitcoin mining, proof-of-stake mining, blockchain nodes, decentralized finance and other associated cutting-edge technology. Its unwavering commitment to innovation and strategic growth enables it to continually explore new opportunities and maximize value for its shareholders.

We seek Safe Harbor.