Alpha Metaverse Technologies announces the signing of

Vancouver, British Columbia, April 13, 2022 (Globe Newswire) – Alpha Metavers Technologies Inc. (Custom search engine: ALPA) (ESF: 9HN0), (Pink OTC: APETF) (“alpha“or the”association“) to announce, following the Company’s press release of January 24, 2022, that it has signed a definitive agreement (“Deal‘) with Shape Immersive Entertainment Inc. (“)appearance“) and all contributors of Shape (“Shareholder training“) , to get (“acquisition“) 100% of the issued and outstanding capital of the form.

Upon completion of the acquisition, Shape will continue to operate as a fully functional metaverse generator and co-develop non-fungible tokens (“NFTTechnology, Augmented Reality and 3D Experiences (“)Three-dimensional”) products to transform user experiences. Shape is a leader in 3D NFTs, holograms, augmented and virtual reality, and game development to win. Shape has also partnered with or worked with many well-known Fortune 1000 companies and other leading companies such as RTFKT® (Recently bought by Nike®) , Red Bull®Intel Corporation® And the Olympics®.

“The conclusion of this agreement with Shape represents a major milestone for Alpha in our expansion of game experiences and brands based on Web3 and Metaverse,” said Brian Wellnev, CEO of Alpha. “We look forward to completing the acquisition and expanding Studio Shape’s ongoing business to major brands and leveraging their development capabilities to grow existing Alpha gaming properties. This combination of the studio’s internal and external business will expand Alpha’s business development line and grow the partnership.”

Thinking of buying:

Subject to the conditions stipulated in the Agreement, the Company will offer the following consideration for the acquisition:

(a) pay a lump sum of $500,000 in cash to shareholders (collectively) on the closing date of the acquisition (“final date“);

(b) Issuance of a total of 14,000,000 ordinary shares in the share capital of the company (each, A”Alpha share”) to constitute the shareholders (collectively) on the closing date;

(c) pay a total sum of $500,000 in cash to the Shareholders (collectively) within one hundred and eighty (180) days of the Closing Date (“for extra cash“) ; And

d) the issuance of a total of 840,000 Alpha Shares to specific persons in consideration of services rendered in connection with the successful completion of the transaction provided for in the Agreement as of the closing date.

The 14,000,000 Alpha Shares to be issued pursuant to the acquisition will be subject to escrow restrictions as 10% of such Alpha Shares will be released on the Closing Date, after which 18% of the remaining Alpha Shares will be issued after every four (4) month period for which following the closing date (“Warranty Agreement“).

The company will give a general guarantee in favor of the stockholders for the purpose of securing the payment of the additional consideration in cash. In the event that the additional cash consideration is not paid within one hundred and eighty (180) days of the closing date, the Company will issue an additional total of 6,678,000 Alpha Shares to form the Shareholders (combined), and the escrow arrangement will no longer be considered. The Company will maintain its obligation to pay the additional cash consideration.

In addition, the Company has agreed to issue up to a total of 9,000,000 Alpha Shares to certain Shareholders of Form (together) who will join Alpha, upon completion of the acquisition, as employees or advisors. (together referred to as “Stage posts‘), on the following basis:

(a) 500,000 shares of significant stock over Alpha market capitalization of at least $50,000,000 for 10 consecutive trading days;

(b) 500,000 Milestone Shares with an Alpha Market capitalization of at least $75,000,000 for 10 consecutive trading days;

(c) 1,000,000 Milestone Shares with a market value of at least US$100,000,000 in Alpha for 10 consecutive trading days;

(d) 1,000,000 Milestone Shares of Alpha market capitalization of at least $125,000,000 for 10 consecutive trading days;

(e) 1,000,000 Milestone Shares at Alpha market capitalization of at least $150,000,000 for 10 consecutive trading days;

(f) 1,000,000 Milestone Shares with a market capitalization of Alpha of at least $175,000,000 for 10 consecutive trading days;

(g) 1,000,000 Milestone Shares with a market value of at least $200,000,000 in Alpha for 10 consecutive trading days;

(h) 1,000,000 major shares of Alpha’s market capitalization of at least $250,000,000 for 10 consecutive trading days;

(i) 1,000,000 Milestone Shares with a market capitalization of Alpha of at least $300,000,000 for 10 consecutive trading days; And

(j) 1,000,000 Milestone Shares with an Alpha Market capitalization of at least $350,000,000 for 10 consecutive trading days,

Provided that each stage is reached within five years of the closing date and that the market value of each stage is calculated using the share price of Alpha on the Canadian Stock Exchange multiplied by the number of Alpha shares and then in traffic.

The closing of the acquisition is subject to customary terms, including receipt of all necessary regulatory and other approvals.

About Alpha Metaverse Technologies Inc.

Alpha Metaverse Technologies Inc. is a technology company focusing on the emerging industries of esports, mobile, console, web games, e-commerce, and other high growth opportunities such as Augmented Reality/Virtual Reality Web3 and blockchain-based businesses. With a strong portfolio of technology and product assets such as GamerzArena and HeavyChips, Alpha brings a unique collective appeal to modern gaming platforms. Learn more about: www.alphametaverse.com

Contact:
Investor Relations: [email protected] – 604359 1256
Media and Public Relations: [email protected]

On behalf of the board of directors
Brian Wellnev
head of administration

forward-looking statement
This press release contains “forward-looking information” within the meaning of applicable securities laws relating to statements regarding the Company’s acquisition, operations and plans, including with respect to completing additional acquisitions, making additional payments and achieving certain milestones, including but not limited to any An increase in market value. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there is no guarantee that such expectations will prove correct. Readers are cautioned not to place excessive reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and developments to differ materially from those contemplated by such statements depending, among other things, on the risks of incomplete acquisition. Not as expected, or at all that the company is not making any further acquisitions; that the company is not respectful of its future payments and issues; that the Company meets some or all of its future milestones, including, but not limited to, any increase in market capitalization; And that the company may not be able to carry out its business plans as planned. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward-looking information contained in this press release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there is no guarantee that such expectations will prove correct and do not indicate profitability based on reported sales. The statements in this press release have been released as of the date of this press release.

The CSE has not reviewed, approved, or disapproved the contents of this press release

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