Xcite Resources Inc. — Capital/Financing Update 2025

Oct 16, 2025

MONITOR VENTURES INC.
Suite 1703, 595 Burrard Street
Vancouver, British Columbia V7X 1J1

Not for distribution in the United States

PRESS RELEASE

MONITOR VENTURES INC.
ANNOUNCES CLOSING OF SETTLEMENT OF DEBT
AND PRIVATE PLACEMENT

Vancouver, BC., October 16, 2025 – MONITOR VENTURES INC. (“Monitor” or the “Company”) (NEX: MVI.H) reports that further to its previously announced debt settlement on September 19, 2025, it has issued 1,015,000 common shares (“Common Shares”) of the Company at $0.075 each to extinguish $76,250 of debt. The Common Shares were issued to an arms length party and a director of the Company.

The issuance of the Common Shares to the director of the Company constitutes a “related party transaction” with the Company within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”). As a result, the director currently holds 665,000 shares, representing approximately 16.86% of the issued and outstanding share capital of the Company and 15.48% of the issued and outstanding share capital of the Company following closing of the private placement described below.

The Company has relied on the exemptions from the formal valuation and minority approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the Debt Shares is not more than 25% of the Company’s market capitalization.

The Company also reports that it has closed its previously announced non-brokered private placement of 350,000 common shares at $0.075 each for proceeds $26,250 (the “Private Placement”). The proceeds from the Private Placement will be used for working capital purposes, including audit fees, transfer agent fees and ongoing filing fees.

The Shares issued pursuant to the Debt Settlement and the Private Placement are subject to a hold period of 4 months from date of issue in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws expiring February 17, 2026.

The above transactions are subject to the receipt of applicable final regulatory approvals.

ON BEHALF OF THE BOARD

William Radvak, President and CEO

For further information, please contact:
William Radvak, President & CEO
(778) 888 4101
billradvak@gmail.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY HEREIN.