Mr. Stephen Wall reports

VEJI ANNOUNCES COMPLETION OF DEBT SETTLEMENTS

Veji Holdings Ltd., further to its news release dated March 22, 2024, has settled an aggregate of $112,500 in debt through the issuance of 1,874,998 common shares of the company at a price of six cents per share.

All securities issued in connection with the debt settlement are subject to a statutory hold period of four months and one day from the date of issuance.

Insider debt totalling $65,000 was held by companies wholly owned by Amar Purewal and Ryan Hounjet, who are both insiders of the company, and, accordingly, the portions of the debt settlement relating to the insider debt constituted related-party transactions, as such term is defined in Multilateral Instrument 61-101 -- Protection of Minority Shareholders in Special Transactions. In completing the insider debt settlements, the company relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101, on the basis that the fair market value of the insider debt did not constitute more than 25 per cent of the company's market capitalization (as determined in accordance with Section 5.7(a) of MI 61-101).

About Veji Holdings Ltd.

The company is a reporting issuer in Canada and is listed on the Canadian Securities Exchange under the symbol VEJI and on the OTC (over-the-counter) market under the symbol VEJIF.