Mene Inc. Announces Cancellation and Grant of Stock Options

Menē Inc. (TSX-V:MENE) (US:MENEF) (“Menē” or the “Company”), an online 24 karat jewelry brand, announces the cancellation and re-grant to its Chief Executive Officer of an aggregate of 7,469,437 incentive stock options (the “Stock Options”) to purchase Class B subordinate voting shares of the Company (the “Class B Shares”) under the Company’s incentive stock option plan.

Under TSXV Policy 4.4 – Security Based Compensation, the cancellation and re-grant of security based compensation to the same person within a one year period requires approval of disinterested shareholders of the Company. The Company intends to seek disinterested shareholder approval for the grant of the Stock Options at its next annual general and special meeting of shareholders currently scheduled for October 10, 2024.

Subject to shareholder and TSX Venture Exchange approval, the Stock Options will be exercisable at a price of $0.085 per Class B Share and vest according to the schedule below:

1. 1,493,888 options vesting on October 10, 2024
2. 1,493,888 options vesting on September 7, 2025
3. 1,493,888 options vesting on September 7, 2026
4. 1,493,888 options vesting on September 7, 2027
5. 1,493,885 options vesting on September 7, 2028

The Stock Options shall have a term of ten years from the original date of grant, being September 7, 2023.

About Menē Inc.

Menē crafts pure 24 karat gold and platinum jewelry that is transparently sold by gram weight. Through mene.com, customers may buy jewelry, monitor the value of their collection over time, and sell or exchange their pieces by gram weight at prevailing market prices. Menē was founded by Roy Sebag and Diana Widmaier-Picasso with a mission to restore the relationship between jewelry and savings. Menē empowers consumers by marrying innovative technology, timeless design, and pure precious metals to create pieces which endure as a store of value.

For more information about Menē, visit mene.com.

Forward-Looking Statements

This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. In particular, but without limiting the foregoing, this news release contains forward-looking information pertaining to the business plans and goals of the Company and shareholder and regulatory approvals for the Stock Options.