CLOUD3 VENTURES — Board/Management Information 2022

Oct 24, 2022

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News Release

Web3 Ventures Announces Resignation of Director

Toronto, Ontario, Canada – October 24, 2022 - Web3 Ventures Inc. (“W3V” or the “Company”), a platform company focused on incubating, accelerating, and developing world class projects and applications for the decentralized web, announces that Stan Fainzilberg has resigned from its Board of Directors as well as Chief Executive Officer of the Company effective October 24, 2022. W3V would like to thank Mr. Fainzilberg for his contributions to the Company and wishes him will with his future endeavors. Mr. Kirill Kompaniyets will assume the role of interim Chief Executive Officer while the Company seeks a suitable replacement.

ON BEHALF OF THE BOARD OF DIRECTORS

Kirill Kompaniyets, Director Telephone: (416) 418-6949

Forward-Looking Information:

This press release may include “forward-looking information” (as that term is defined by Canadian securities legislation), concerning the Company’s business. Forward-looking information is based on certain key expectations and assumptions made by the Company’s management, including future plans for the Company. Although the Company believes that such expectations and assumptions are reasonable, investors should not rely unduly on such forward-looking information as the Company can give no assurance they will prove to be correct. Forward-looking statements in this press release are made as of the date of this press release. The company disclaims any intent or obligation to publicly update any forward-looking information (whether as a result of new information, future events or results, or otherwise) other than as required by applicable securities laws.