Mr. Ali Pejman reports

NETWORK MEDIA GROUP ANNOUNCES 5 TO 1 SHARE CONSOLIDATION

Network Media Group Inc. will consolidate its common shares on the basis of one postconsolidated common share for five preconsolidation common shares. As of the date hereof, there are 89,123,537 common shares issued and outstanding. On a postconsolidation basis, the company shall have 17,824,707 common shares issued and outstanding. No fractional shares will be issued under the consolidation, and each fractional share will be rounded down to the nearest whole number, without any consideration payable therefor. Each shareholder's percentage ownership in the company and proportional voting power will remain unchanged, except for minor adjustments resulting from the treatment of fractional shares.

The Cusip number for the postconsolidation common shares is 64128U205, the new ISIN number is CA64128U2056 and the company's name will not change.

Ali Pejman, chairman of Network Media, stated, "In discussions with existing and prospective stakeholders, we believe that optimizing our share structure will help us appeal to a broader audience of investors and deliver long-term value to shareholders."

The common shares will commence trading on the TSX Venture Exchange on a postconsolidation basis, effective at market opening on Sept. 21, 2023. The consolidation is subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. Pursuant to the Business Corporations Act (British Columbia) and the articles of the company, shareholder approval of the consolidation is not required.

The exercise or conversion price and the number of common shares issuable under the company's outstanding stock options will be proportionately adjusted upon completion of the consolidation. A letter of transmittal will not be sent to registered shareholders. Shareholders who hold their shares in brokerage accounts are not required to take any action to effect an exchange of their common shares.

"The share consolidation is an important step forward for Network as we focus on operational excellence, growth and innovation in an ever evolving media landscape," added Curtis White, president of Network Media. "We would like to express gratitude to our shareholders for their ongoing support."

About Network Media Group Inc.

Network Media is the parent company of Network Entertainment Inc.

Network Entertainment is a creatively driven boutique film, television and digital content production company that creates, finances and produces award-winning programming for television, digital platforms and movie audiences around the world.

The Network premium brand of content delivers world-class casts and features visually cinematic, richly crafted storytelling. The company's productions are consistently embraced by both audiences and critics alike, garnering awards, record ratings and unparalleled media coverage for Network and its partners. Network NFT Studios collaborates with intellectual property owners, artists and top talent to create, distribute and monetize digital collectible campaigns and related initiatives in the Web3 universe.

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