Mr. Cale Moodie reports

NEPTUNE EXPANDS FANTOM HOLDINGS AHEAD OF SONIC NETWORK MIGRATION

Neptune Digital Assets Corp. has expanded its Fantom (FTM) holdings as the blockchain prepares for its anticipated migration to the Sonic network. This move underscores Neptune's commitment to leveraging cutting-edge blockchain advancements while optimizing returns through innovative financial strategies.

Neptune currently holds 663,000 Fantom tokens and has implemented a dollar-cost-average (DCA) derivative strategy selling Fantom put options. Neptune currently has 500,000 FTM open option trade expiring at the end of November. This approach is intended to increase Neptune's total holdings to one million to three million FTM depending on pricing and option premiums, further solidifying its presence in the Fantom ecosystem. Neptune's use of put options showcases its ability to adopt financial strategies to maximize returns. The derivative strategy can offer Neptune the opportunity to earn up to 150-per-cent APR (annual percentage rate) on the cash value collateral if Fantom's price remains stable and the put options are not triggered.

"Leveraging derivatives allows us to strategically acquire more tokens at favourable prices while earning high returns on cash reserves, given we are long FTM, this is a win-win strategy for the company," said Cale Moodie, chief executive officer of Neptune Digital Assets. "We use this approach to focus on innovation and financial prudence, which are key drivers of our long-term success."

The Sonic upgrade is set to benefit the Fantom blockchain by improving scalability, transaction throughput and user experience. With Sonic's target of over 10,000 transactions per second and subsecond finality, it intends to enhance the network's competitiveness within the blockchain ecosystem. These advancements are expected to bolster FTM's utility, making it an attractive asset for both developers and investors.

"Fantom's migration to Sonic marks a big move in its evolution," said Mr. Moodie, CEO of Neptune Digital Assets. "Neptune has a long history with holding the Fantom token in addition to staking and participating in its [decentralized finance] ecosystem, which was extremely lucrative for Neptune in the previous bull market. We see strong potential in Sonic's ability to elevate Fantom's performance, which aligns perfectly with Neptune's goal of investing in blockchain technologies that push the boundaries of innovation."

About Neptune Digital Assets Corp.

Neptune Digital Assets is one of the first publicly traded blockchain companies in Canada, and is at the forefront of the cryptocurrency and blockchain landscape. Neptune engages in operations across the digital asset ecosystem, including bitcoin mining, proof-of-stake mining, blockchain nodes, decentralized finance (DeFi) and other associated cutting-edge technology. The company's unwavering commitment to innovation and strategic growth enables it to continually explore new opportunities and maximize value for its shareholders.

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