Mr. Young Seung Ko reports

AGEDB TECHNOLOGY LTD. ACQUIRES PATENTS TO ENHANCE DATA PROCESSING AND GRAPH DATABASE TECHNOLOGIES

AGEDB Technology Ltd. has acquired several strategic patents. This acquisition represents a significant milestone for AGEDB, further solidifying its position at the forefront of innovation in data processing and graph database technologies.

Key highlights of the acquisition:

• The acquisition involves three patents crucial to the advancement of data processing and graph database technologies.
• This strategic move aligns with AGEDB's commitment to providing cutting-edge solutions and enhancing its technological capabilities.
• Patents, acquired from AGEDB principal shareholder, Bitnine Holdings Inc., were previously only licensed to AGEDB.
• AGEDB will make three annual payments to Bitnine equal to 10 per cent of AGEDB annual revenue on first, second and third anniversaries to own 100 per cent of the patent rights replacing annual licensing only royalties of 30 per cent first year, 20 per cent second year and 10 per cent each year thereafter, of revenue from use of the patents.
• Patents valued by independent third party valuator at $7.39-million.

Impact on AGEDB Technology

The acquisition of these patents will significantly bolster AGEDB's ability to develop innovative data processing and graph database technologies. These advancements are expected to provide enhanced solutions to AGEDB's customers, driving forward the progress in enterprise database technology.

Statement from leadership

"We are excited about this acquisition and the significant value it brings to our technological portfolio," said Young Seung Ko, chief executive officer of AGEDB Technology. "These patents represent substantial advancements in data processing and graph database systems, and their integration will enable us to offer even more robust and efficient solutions to our clients."

MI 61-101 related party transaction

Bitnine Holdings is a related party of AGEDB holding 19.5 million shares of AGEDB representing 46.1 per cent of the outstanding shares. AGEDB independent directors reviewed and approved the patent acquisitions as favourable to AGEDB compared with patent licensing and royalty payments. AGEDB is relying upon the fair market value not more than 25 per cent of market capitalization (Section 5.5 (a) and Section 5.7 (a)) and issuer not listed on specified markets (Section 5.5 (b)) exemptions from the formal valuation and minority approval requirements of MI 61-101 -- Protection of Minority Security Holders in Special Transactions.

Completion of the acquisition of the patents is subject to TSX Venture Exchange acceptance.

About AGEDB Technology Ltd.

AGEDB Technology is a leading provider of enterprise database solutions based in Toronto, Ont. The company specializes in advanced database technologies, including graph databases and data processing systems, offering robust solutions to clients worldwide.

We seek Safe Harbor.