Mr. Cale Moodie reports

NEPTUNE ANNOUNCES AUDITED ANNUAL FINANCIALS WITH $17.1M COMPREHENSIVE NET INCOME AND 54% ASSET GROWTH

Neptune Digital Assets Corp. has released its Aug. 31, 2024, annual audited consolidated financial statements, and management discussion and analysis.

Below are key financial and operational highlights for the fiscal year ended Aug. 31, 2024, along with subsequent developments up to the date of this release.

• Neptune ended the fiscal year on Aug. 31, 2024, with $50.7-million in assets and no debt, an increase of 54 per cent over the previous fiscal year.
• Neptune achieved a total comprehensive net income of $17.1-million for the fiscal year ended Aug. 31, 2024, a significant growth from a net comprehensive loss of $3.4-million in the prior year.
• Gross mining revenues experienced a slight decline from $2.3-million to $1.8-million this year, primarily due to the halving event reducing BTC (bitcoin) production.
• Staking revenues increased, driven by the growth in staked altcoin balances. As part of its staking growth strategy, Neptune acquired 26,964 solana (SOL), a leading blockchain platform for high-performance decentralized applications. As of the date of this release, Neptune holds 32,100 SOL, with the majority of these holdings staked and generating consistent staking revenue.
• As of the date of this release, Neptune's largest digital asset holdings include 354 BTC; 32,100 SOL; 200,000 ATOM; 663,000 FTM; 1.27-million GRT; 51,000 DOT; and 141 ETH. The company also holds positions in DASH, JUNO, Ocean and a number of other smaller market-cap tokens.
• Neptune holds 26,720 SpaceX shares through two third parties valued at approximately $7.1-million at the date of this release, representing an increase of over 100 per cent from Aug. 31, 2023.
• In addition to its other assets, Neptune holds a cash balance of $4-million held with a Tier 1 Canadian bank, providing sufficient funding to sustain operations for over two years of normal general and administrative costs.
• Neptune is on track to secure up to $25-million (U.S.) in debt financing, creating opportunities for additional investments in crypto assets, derivative trading and proof-of-stake operations without any dilution to shareholders.

"This year has been transformative for Neptune as we position ourselves at the forefront of the crypto bull market. By strategically rebalancing and leveraging our assets, we are seizing the opportunities presented by rising crypto prices. Our SpaceX investment has grown into a substantial asset, reflecting our commitment to forward-thinking investments with long-term potential. To fuel growth without diluting shareholder value, we are actively pursuing non-dilutive debt financing, enabling us to capitalize on this cycle's momentum. We deeply appreciate the loyalty of our shareholders through the crypto winter and are thrilled about the opportunities ahead as we gear up for what promises to be an exciting and profitable 2025," stated Cale Moodie, Neptune's chief executive officer.

About Neptune Digital Assets Corp.

Neptune Digital Assets is one of the first publicly traded blockchain companies in Canada and is a cryptocurrency and blockchain infrastructure leader with operations across the digital asset ecosystem including bitcoin mining, proof-of-stake mining, blockchain nodes, decentralized finance (DeFi) and other associated blockchain technologies.

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