Mr. Darren Bondar reports

TRAIL BLAZING VENTURES LTD. ANNOUNCES FILING OF MANAGEMENT INFORMATION CIRCULAR AND PROVIDES UPDATE FOR QUALIFYING TRANSACTION WITH HEMPALTA INC.

Trail Blazing Ventures Ltd. has provided a status update relating to the proposed qualifying transaction between Trail Blazing and Hempalta Inc.

The corporation has received conditional acceptance of the qualifying transaction from the TSX Venture Exchange and has scheduled an annual general and special meeting of shareholders of the corporation to be held on March 15, 2024, to obtain, among other things, minority shareholder approval of the qualifying transaction. In connection with the meeting, a management information circular has been prepared, is being mailed to shareholders of the corporation, and is available on SEDAR+.

The closing of the qualifying transaction is anticipated to take place on or about March 19, 2024. Once minority shareholder approval of the proposed qualifying transaction and shareholder approval of other related matters is obtained at the meeting, all conditions to the closing of the qualifying transaction have been satisfied or waived, and all of the conditions set out by the TSX-V in its conditional acceptance have been satisfied, the corporation may close the qualifying transaction.

About Trail Blazing Ventures Ltd.

Trail Blazing is a capital pool company (CPC) that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the TSX Venture Exchange's CPC policy, until the completion of its qualifying transaction, Trail Blazing will not carry on business, other than the identification and evaluation of businesses or assets with a view to completing a proposed qualifying transaction.

About Hempalta Inc.

Hempalta is a private company incorporated under the Business corporations Act (Alberta). Hempalta makes products from hemp grown sustainably in Southern Alberta and processes the hemp using a state-of-the-art HempTrain advanced processing plant at the company's production facility in Calgary, Alta., into various consumer products which are sold and distributed through various retail channels. Hempalta is led by passionate advocates for industrial hemp who have years of operations, manufacturing, marketing, consumer packaged goods and retail sales experience. In 2023, Hempalta was named one of the Top 10 Startups by Calgary's Launch Party and one of the 50 most investable clean-tech companies in Canada by Foresight Canada.

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