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LEGAL*51494278.1



Alpha Metaverse Technologies Inc. Announces Debt Settlement
June 17, 2022 (Vancouver, BC), Alpha Metaverse Technologies Inc. (the "Company") on (CSE: ALPA, OTC PINK: APETF, FRA: 
--->9HN0), is pleased to announce that it has entered into a debt settlement agreement with a non-related vendor, pursuant
---> to which it has discharged an aggregate total indebtedness of CAD$150,000 (the "Debt Settlement") through the issuanc
--->e of 750,000 common shares at a deemed price of CAD$0.20 per share. 
The securities issued pursuant to the Debt Settlements are subject to a four month hold period from the date of issuan
--->ce. 
On Behalf of The Board of Directors
Brian Wilneff
Chief Executive Officer

Investor Relations: ir@alphametaverse.com - (604) 359-1256
Media and Public Relations: media@alphametaverse.com 

Forward-Looking Statement 
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to 
--->statements regarding the Company's business and plans, including with respect to undertaking further acquisitions, inc
--->orporation of Shape's abilities into the Company's portfolio of gaming solutions, cross-selling across business units,
---> development of further gaming intellectual property and metaverse gaming experiences, future value of the metaverse i
--->ndustry and the Company's ability to position itself to capitalize on the metaverse industry. Although the Company bel
--->ieves that the expectations reflected in the forward-looking information are reasonable, there can be no assurance tha
--->t such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forwardlooking info
--->rmation. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, perform
--->ance and developments to differ materially from those contemplated by these statements depending on, among other thing
--->s, the risks that the Company does not complete any further acquisitions; that the Company is unable to incorporate Sh
--->ape's abilities into its portfolio of gaming solution; the Company's inability to cross-sell across business units; th
--->e risk that the Company is unable to develop further gaming intellectual property and metaverse gaming experiences; th
--->e risk the future value of the metaverse industry does not materialize; the risk the Company is unable to position its
--->elf to capitalize on the metaverse industry; and that the Company may not be able to carry out its business plans as e
--->xpected. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any f
--->orward-looking statements or forward-looking information in this news release. Although the Company believes that the 
--->expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectat
--->ions will prove to be correct and makes no reference to profitability based on sales reported. The statements in this 
--->news release are made as of the date of this release. 
The CSE has not reviewed, approved, or disapproved the content of this press release