TenX Protocols Announces Closing of Qualifying Transaction

Vancouver, British Columbia--(Newsfile Corp. - December 5, 2025) - TenX Protocols Inc. (TSXV: TNX.V) (formerly, Iocaste Ventures Inc.) (the "Company") is pleased to announce that it has completed its previously announced "Qualifying Transaction" (as defined by Policy 2.4 of the TSX Venture Exchange (the "Exchange")) involving a three cornered amalgamation where TenX Labs Inc. (formerly, TenX Protocols Inc.), a private Ontario corporation ("TenX"), was amalgamated with a wholly-owned subsidiary of the Company (the "Qualifying Transaction"). In addition, the Company is pleased to announce the conversion and exchange of the subscription receipts (the "Subscription Receipts") issued in connection with TenX's previously announced brokered private placement (the "Brokered Offering") of Subscription Receipts and concurrent non-brokered private placement (the "Non-Brokered Offering" and, together with the Brokered Offering, the "Offerings") of Subscription Receipts for aggregate gross proceeds of approximately $29.9 million (consisting of approximately $6.36 million in cash and approximately $23.56 million in crypto assets). The Brokered Offering was led by Canaccord Genuity Corp. (the "Lead Agent"), as lead agent and sole bookrunner, on behalf of a syndicate of agents, including Sightline Wealth Management LP, Ventum Financial Corp., INFOR Financial Inc. and Richardson Wealth Limited (collectively, the "Agents").

Immediately prior to the closing of the Qualifying Transaction, the Company consolidated its issued and outstanding common shares on a 7.5 to 1 basis (each post-consolidation common share, a "Common Share") and changed its name from "Iocaste Ventures Inc." to "TenX Protocols Inc.". The Company's new CUSIP number will be 880945100 and its new ISIN will be CA8809451005. Shareholders of the Company are not required to take any action with respect to the consolidation or the name change and are not required to exchange their existing share certificates for new certificates bearing the Company's new name. The Company's transfer agent, Odyssey Trust Company, will send registered shareholders a new Direct Registration System advice (DRS) representing the number of post-consolidation Common Shares held by such shareholders.