GlobeNewswire Inc | Jun 23, 2021 09:15AM EDT

June 23, 2021

2021 Highlights to Date:

-- Acquisition of Limitless Network (VPN, Microminer, Digital Wallet) -- Significant Additions to the Advisory Board: Dan Reitzik (former CEO and founder of DMG Blockchain Solutions (TSXV: DMGI), Richard Oh (former executive at PayPal Asia), Shin-Young Park (CEO of WePay Korea), Eric Sim (CEO of Glocontech), Pavel Bains (CEO of Bluzelle) -- Launch of the Quick & Dirty Guide to Blockchain and The Quick & Dirty Guide to NFTs -- Strategic Partnership to Launch NFT Products & Managed Services Platform -- Strong Cash Position: Over $5.5 Million Raised since January 2021

VANCOUVER, British Columbia, June 23, 2021 (GLOBE NEWSWIRE) -- Cloud Nine Web3 Technologies Inc. (Cloud Nine'' or the Company) (CSE: CNI) (OTC: CLGUF) (FSE: 1JI0) is pleased to provide a corporate update on a record year to date.

Cloud Nine is a technology company focused on leveraging Web 3.0 to power a future where decentralized users and machines are able to interact with data, value and other counterparties via a substrate of peer-to-peer networks without the need for third parties.

This past quarter has seen tremendous growth for our Company. We signed key partnerships, made certain strategic acquisitions and added key executive members and leaders to the Cloud Nine team. Our Companys healthy cash position has given us the strong footing to look for new accretive opportunities for growth. Our impressive new advisory board has already opened doors and provided the executive team with unprecedented guidance, vision and leadership in a very short time span, said Cloud Nine President, Sefton Fincham.

The Companys proprietary ecosystem includes:

-- Next Decentrum - EdTech Platform is designed to provide users with easy and simple guides to: Cybersecurity, Wearable Technologies, Blockchain Technology, Crypto Currencies, Decentralized Finance (DeFi). -- Limitless Network (VPN Miner) - The Limitless platform gives the consumer plug & play opportunities to mine favourite cryptocurrencies which are then immediately stored in the consumers in-app digital wallet. -- Digital Wallet for Desktop & Mobile - Crypto credit card paired with user friendly cryptocurrency banking services on desktop, mobile and hardware wallets. -- Decentralized Storage Application (the AirBnB of Storage) - takes the planets most under-utilized computer resources and provides the most secure and affordable database in the world.

The Company is pleased to provide the following updates from January 1, 2021 to June 30, 2021:

January - February 2021

Feb 9 - Cloud Nine Announces New CFO and Adds New Board Member Feb - Cloud Nine Signs LOI to Acquire Cryptocurrency & Blockchain Assets16 March 2021 March - Cloud Nine Targets Ed-Tech Development; Engages Bluzelle for3 Specialized Program Development of Its Existing Platform March - Cloud Nine Announces Unveiling of Proprietary Education Tech5 Platform March 8 - Cloud Nine Adds Web3 Tech Entrepreneur, Pavel Bains, CEO of Bluzelle, as Strategic Advisor March - Cloud Nine Closes Acquisition of Limitless VPN Platform16 March - Cloud Nine Adds Entrepreneur Sefton Fincham as President19 March - Next Decentrum, Powered by Cloud Nine, Releases NFT Guide to Help25 Unlock The Global Collectibles Market March - Cloud Nine Adds Hussein Hallak to the Strategic Advisory Board30 April 2021 April 1 - Cloud Nine Commenced Trading on the Frankfurt Stock Exchange April - Cloud Nine Announces Strategic Partnership to Launch NFT Products20 and Managed Services May 2021 May 11 - Cloud Nine Adds eBay Managing Director & WePay Korea CEO as Strategic Advisors May 18 - Cloud Nine Strengthens Advisory Board with the Addition of former Executive of PayPal Asia & CEO of GLOCONTECH June 2021 June 16 - Cloud Nine Appoints Former CEO of DMG Blockchain Solutions (TSXV: DMGI), Dan Reitzik, as Special Advisor to the Board of Directors

Strategic Additions To The Team

In the past quarter, the Company launched a strategic initiative to bring on the very best leaders to its Board, Strategic Advisory Council and Executive Team. Key additions include:

-- Sefton Fincham, Look To The Sky Films and Thirty Six Financial Group founder and raised over $100M for numerous small cap companies, as Company President -- Nilda Rivera, formerly Aurora Cannabis VP & Corporate Secretary, as Cloud Nine CFO & Corporate Secretary -- Kant Trivedi, co-founder and director of Blockfusion Technologies Inc., formerly COO and managing partner at Greenwich Associates and formerly senior director at Rogers Communications, as Director -- Dan Reitzik, formerly CEO and founder of DMG Blockchain Solutions (TSXV: DMGI), as Strategic Advisor -- Richard Oh, former executive at PayPal Asia, as Strategic Advisor -- Eric Sim, CEO of Glocontech, as Strategic Advisor -- Shin-Young Park, CEO of WePay Korea, and a Payment Development Specialist, as Strategic Advisor -- Pavel Bains, CEO & co-founder of Bluzelle Networks, writer and contributor to Forbes, Venture Beat and Fast Company, as Strategic Advisor -- Hussein Hallak, developer of over 20 startups and launched first and largest marketplace for Middle Eastern Art, as Strategic Advisor

Cloud Nine is poised for growth, future strategic initiatives and partnerships as we head into Q3 and the remainder of 2021, said Sefton Fincham. The outstanding acquisitions and additions to our team, our Board and Advisory Board along with having raised over $5.5 Million is positioning our Company for increased market share and sales growth moving forward.

As part of the Companys continuing efforts to identify additional product areas with high growth potentials and to open up new lines of business, Cloud Nines senior management is in advanced discussions with its strategic advisors evaluating the opportunity to join the worlds leading Bitcoin mining associations, including but not limited to the Bitcoin Mining Council (www.bitcoinminingcouncil.com), the Crypto Climate Accord (www.cryptoclimate.org) and the Sustainable Bitcoin Standard (www.sustainablebitcoinstandard.org).

On Behalf of the Board,CLOUD NINE WEB3 TECHNOLOGIES INC.

Sefton FinchamPresident

About Cloud Nine Web3 Technologies Inc.Cloud Nine Web3 Technologies is a technology company focused on incorporating emerging technologies into its current platforms leveraging Web 3.0. Cloud Nines mission is to fuel innovation and make the future more accessible by powering the launch and growth of future tech companies. Web 3.0 enables a future where decentralized users and machines are able to interact with data, value and other counterparties via a substrate of peer-to-peer networks without the need for third parties.

For further information, please contact:Paul SearleCorporate CommunicationsCitygate Capital CorpPhone: (778) 240-7724psearle@citygatecap.com

Neither the Exchange nor its regulation services provider accepts responsibility for the adequacy of accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contain herein.

Disclaimer for Forward-Looking InformationCertain statements in this press release are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as may, should, will, could, intend, estimate, plan, anticipate, expect, believe or continue, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding: the Companys ability to successfully launch products and expand partnerships; its pursuit of emerging technology products; support its pursuit of Web3 opportunities on a global scale; and the ability of the Strategic Advisors to use their experience to positively impact Cloud Nines business; the Companys ability to identify additional product areas, open up new lines of business, commercialize the Company's latest technology products, build significant strategic distribution relationships and establish the Company as the leader in blockchain technology and decentralized finance; the potential of the Companys technology and operations; growth of the global digital payment market; the Companys ability to capitalize on any growing demand for payment solutions; the Companys ability to expand partnerships; the Companys pursuit of emerging technology products and Web3 opportunities on a global scale; and the ability of the advisor to use his experience to positively impact the Companys business including development of Cloud Nines Limitless assets. Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, failure to obtain any permits and licenses required to operate the business, the impact of technology changes on the industry, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate and hire personnel, competition, security threats, consumer sentiment towards the Company's products and services, and blockchain and DeFi technology generally, failure to develop new and innovative products, litigation, increase in operating costs, increase in labor costs, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Such forward-looking statements should therefore be construed in light of such factors, and, except as required by applicable law, the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise