AMPD Ventures Raises Cad $6.94M via Oversubscribed Non-Brokered Private Placement To Invest In Metaverse Initiatives - Seite 3

The Company intends to use CAD $2.5M of the proceeds from the Private Placement to fund the ongoing operations of Departure Lounge post Acquisition and has increased the planned allocation to general working capital to AMPD from the Private Placement from CAD $2.5M to CAD $4.4M, to accelerate the rollout of AMPD's High-Performance Edge computing environments around the world.

About AMPD Ventures Inc.

AMPD specializes in providing high performance cloud and compute solutions for low latency applications, including video games and eSports, digital animation and visual effects, and big data collection, analysis, and visualization.

ON BEHALF OF THE BOARD OF DIRECTORS

/s/ "Anthony Brown"

Anthony Brown
CEO & Director
AMPD Ventures Inc.
[e-mail] | Tel: [phone]

For more information on AMPD, please contact:

Investor Relations
Tel: [phone] ext. 3
[e-mail]

Or visit http://www.ampd.tech

Cautionary Statement

Forward Looking Statements

This news release contains statements and information that constitute "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of our management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances and at the date that such statements are made, but which may prove to be incorrect. Forward looking information in this news release includes statements about management's intended use of the proceeds of the Private Placement, and management's ability to complete the Acquisition, and management's plans to accelerate the rollout of AMPD's High-Performance Edge computing environments around the world, and any other statements that are not statements of historical fact.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of AMPD to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, but are not limited to: successful completion of due diligence with respect to Departure Lounge, execution of a definitive agreement for the Acquisition and the ability to obtain approvals and satisfy conditions required for the Acquisition, as well as those factors discussed in the section entitled "Risk Factors" in the Company's Form 2A Listing Statement dated October 17, 2019 and "Risk and Uncertainties" in the Company's most recent Management Discussion and Analysis filed on SEDAR.