NFT Tech Provides Bi-Weekly MCTO Status Update

Vancouver, British Columbia, May 29, 2024 – NFT Technologies Inc. (Cboe Canada: NFT | Frankfurt: 8LO | OTC Pink: NFTFF) ("NFT Tech" or the “Company”), is providing a bi-weekly status update in accordance with National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”).

As previously announced on March 15, 2024, and as further updated on April 3, April 17, May 1, and May 15, 2024 (together, the "Default Announcement"), the Company applied for a management cease trade order ("MCTO") from the British Columbia Securities Commission (the "BCSC") in connection with the delay in filing the Company's annual financial statements, accompanying management's discussion and analysis, related officer certifications and annual information form for the year ended December 31, 2023 (collectively, the "Annual Filings"). The MCTO was granted by the BCSC on April 3, 2024. While the Company has been working diligently to complete the Annual Filings, the filing deadline of June 3, 2024, will not be met. The Company remains committed to completing the filings as soon as possible and will continue to provide timely and accurate updates throughout this process.

The MCTO prevents the Company’s Chief Executive Officer and Chief Financial Officer from trading in the Company’s securities but does not affect the ability of other shareholders, including the public, to trade in securities of the Company.

The Company confirms that since the date of the Default Announcement: (i) other than as described above, there has been no material change to the information set out in the Default Announcement that has not been generally disclosed; (ii) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (iii) there has not been any other specified default by the Company under NP 12-203; and (iv) there is no other material information concerning the affairs of the Company that has not been generally disclosed.

The Company confirms that it will continue to satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of news releases for so long as it remains in default of the above-noted filing requirements.

This press release contains certain forward-looking statements within the meaning of applicable securities laws with respect to the Company. These forward-looking statements generally are identified by words such as "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," and similar expressions. Forward- looking statements in this press release include but are not limited to, statements regarding the anticipated filing of the Company's annual financial statements and accompanying management's discussion and analysis as well as the annual information form for the year ended December 31, 2023.. Although the Company believes that the expectations and assumptions on which such forward- looking statements and information are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release including, without limitation, the risk that the software bug may not be resolved in a timely manner or at all, the risk that the audit may uncover additional issues, and the risk that the Company may not be able to file the Annual Filings by the anticipated filing date. Additionally, there are uncertainties inherent in forward-looking information, including factors beyond the Company's control. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws. No securities regulatory authority has either approved or disapproved of the contents of this news release. The Cboe Canada Exchange has not reviewed or approved this press release for the adequacy or accuracy of its contents.

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