Liquid Meta Capital Holdings Ltd. announced that its Board of Directors has concluded the initial phases of its previously announced strategic review process, as disclosed in the Company's press release dated December 21, 2022. As part of its strategic review, the Board of Directors completed a canvas of various strategic alternatives currently available to the Company in order to preserve or maximize shareholder value, including, but not limited to, returning capital to shareholders, the potential sale, merger, divestiture, return of capital, other strategic transactions of the Company, or continuing to operate as an independent public company. Following the completion of the initial phases of its strategic review process, the Board of Directors has determined it is in the best interest of the Company to return capital to its shareholders by way of a reduction in stated capital of the Company.

Accordingly, the Company announced that it has called a special meeting of shareholders to be held on April 27, 2023. At the Meeting, shareholders will be asked to approve a reduction in the stated capital of the Company, which is currently USD 24,505,884, by up to USD 10,767,449, pursuant to the Business Corporations Act (British Columbia), for the purposes of distributing to the holders of common shares of the Company certain cash on the balance sheet of the Company by way of dividend in the amount of USD 0.20 per share (the "Distribution"). The reduction in stated capital and the Distribution are subject to the receipt shareholder and regulatory approvals.

There can be no assurances that the reduction in stated capital and Distribution will receive the required approvals, or that the Company will proceed with the Distribution. Further details in respect of the Distribution will be provided as they become available.