Mr. John Putters reports

NEW MEDIA CAPITAL 2.0 INC. UPDATES STATUS OF QUALIFYING TRANSACTION WITH HYPERSONIX LAUNCH SYSTEMS LTD.

New Media Capital 2.0 Inc.'s letter of intent with Hypersonix Launch Systems Ltd., a private company incorporated under the laws of New South Wales, Australia, as previously announced on Feb. 4, 2022, March 7, 2022, and May 19, 2022, has been terminated and the proposed acquisition will not proceed.

The company will resume the process of identifying and evaluating businesses and assets with a view to completing a qualifying transaction.

Trading in New Media shares on the exchange is currently halted.

About New Media Capital 2.0 Inc.

The only business of New Media is the identification and evaluation of assets or businesses with a view to completing a qualifying transaction in accordance with the policies of the TSX Venture Exchange.