Mr. Richard Lee reports

SPACKMAN EQUITIES GROUP INC. RECEIVES TSXV CONDITIONAL APPROVAL

Spackman Equities Group Inc. has provided an update on the reverse takeover (RTO) transaction with Crystal Planet Ltd. (CPL) described in the press releases of the company dated Feb. 6, 2023, Aug. 4, 2023, and Jan. 10, 2024.

The TSX Venture Exchange has conditionally approved the listing of the common shares of the resulting issuer upon completion of the RTO. Listing of the common shares is subject to the fulfilment of certain conditions, including the completion of the RTO. Upon the receipt of TSX-V approval, it is anticipated that the common shares will continue to trade on the TSX-V under the symbol SQG.

As the RTO will be a related-party transaction (as defined in Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions), it will require approval of the company's shareholders on a disinterested basis. The parties are continuing to work to finalize the information circular to be provided to the company's shareholders and anticipate scheduling a special meeting of the shareholders to seek approval for the RTO in May, 2024.

In addition to obtaining approval of the company's shareholders, the RTO is also subject to additional closing requirements and conditions pursuant to the terms and conditions of the share exchange agreement between the parties, a copy of which is available on SEDAR+ under the company's profile.

Trading in the common shares of Spackman is currently halted and it is not anticipated that trading in the common shares of Spackman will resume prior to the completion of the RTO.

As described herein, completion of the RTO is subject to a number of conditions, including, but not limited to, TSX-V acceptance and disinterested shareholder approval. The RTO cannot close until the required shareholder approval is obtained. There can be no assurance that the RTO will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular to be prepared in connection with the RTO, any information released or received with respect to the RTO may not be accurate or complete, and should not be relied upon. Trading in the securities of SQG should be considered highly speculative.

We seek Safe Harbor.