AMPD Subsidiary Departure Lounge Inc. Appoints Real Estate Development Professional, Monica Morgan as Vice President of Real Estate and Projects

VANCOUVER, BC, Oct. 18, 2022 /CNW/ - AMPD Ventures Inc. (CSE: AMPD) (OTCQB: AMPDF) (FRA: 2Q0) ("AMPD" or the "Company"), a next-generation digital infrastructure provider, is pleased to announce that its subsidiary Departure Lounge Inc., a Vancouver, BC-based company offering a range of Metaverse-related technologies, creative, and Web3.0 services ("Departure Lounge") has appointed Monica Morgan as Vice President of Real Estate and Projects.

As progressive technologies such as XR, digital twins, blockchain, and artificial intelligence play an increasingly important role in the planning, implementation, and operation of the built environment, Monica is transitioning from her role as consultant during the early stages of the company's development to join the company on a full-time basis as co-founder.

With almost thirty years of experience working in the public, private and non-profit sectors, including the past seven years as an entrepreneur running her own project management consulting company, Monica brings a unique blend of experience to leverage the technology and creative expertise of Departure Lounge into the planning and creation of blended spaces at the intersection of physical and virtual realities.

An expert in public sector land and real estate development partnership structuring, Monica has spent much of the past twenty years developing public anchors of innovation districts and precincts with multi-sector partners including government, universities, and industry. She has undertaken project planning activities securing billions of dollars of public sector investment for healthcare, hospital, housing, and post-secondary capital projects resulting in significant community, economic, environmental and shareholder benefits.

"Monica adds to the considerable depth of the Departure Lounge's management team with her unique expertise, entrepreneurial approach, and multi-industry contacts," said James Hursthouse, CEO of Departure Lounge. "She has never been afraid to push the boundaries of what is possible and excels at finding new and emerging opportunities to work collaboratively with multiple stakeholders on complex projects in new and emerging industry spaces."

"Departure Lounge and its sister company, AMPD Technologies, are addressing some of today's most pressing community and market opportunities at the intersection of land, buildings, and emerging technologies. The combination of sustainable high-performance computing, advanced capture tools and technologies, along with 3D spatial creative and Web3.0 services can generate new and innovative ways of defining a future that we all want to be participating in – it is very exciting," said Morgan.

Monica holds a Bachelor of Arts in Urban and Economic Geography from UBC, combined with her Certified Management Consultant, Project Management Professional and Leadership in Energy and Environmental Design, Building Design and Construction designations. She is a member of the Board of the Vancouver Chapter of Lambda Alpha International (LAI), a global honourary Urban Land Economics Society and is a former Board member and Chair of the Real Estate Committee of Great Northern Way Trust in Vancouver – a partnership between the University of BC, Simon Fraser University, the British Columbia Institute of Technology and Emily Carr University of Art and Design. At Departure Lounge, Monica has responsibility for domestic and international real estate opportunities, partnerships, and projects.

About Departure Lounge Inc.

Departure Lounge Inc. was established in June 2021 to combine the founding team's expertise to capitalise on the massive opportunity represented by the ongoing transition to the Metaverse. The company offers innovative tools and technologies to facilitate access to the Metaverse, a creative services team to help build the Metaverse, and a Web3 consultancy team to monetize the Metaverse. Departure Lounge's main facility occupies over 6,000 sq ft of space at Vancouver's Centre for Digital Media ("CDM") and houses the Metastage Volumetric Capture Stage and Move.ai motion capture rig, alongside its creative services team. Departure Lounge was acquired by AMPD Ventures Inc. (CSE: AMPD) in December 2021 and takes full advantage of the high-performance cloud and compute solutions being offered by AMPD Technologies Inc.

For further information please visit http://www.dlxr.ca.

About AMPD Ventures Inc.

AMPD is a next-generation infrastructure company specializing in providing high-performance computing solutions for low-latency applications. With state-of-the-art, high-performance computing solutions hosted in sustainable urban data centres, AMPD is leading the transition to the next generation of computing infrastructure as 'the hosting company of the Metaverse.' Through a mix of infrastructure as a service ("IaaS") and an upgraded, high-performance cloud offering, we are meeting the low-latency requirements of multiplayer video games and eSports, computer graphics rendering, artificial intelligence, machine learning, mixed reality, big data processing, and the as-yet uncharted technological developments of the coming decades. Additional information about the company is available on SEDAR and our website at http://www.ampd.tech.

ON BEHALF OF THE BOARD OF DIRECTORS

/s/ "Anthony Brown"

Anthony Brown
CEO & Director
AMPD Ventures Inc.
Telephone: [phone]
Email: [email protected]

Cautionary Statement

Forward Looking Statements

This news release contains statements and information that constitute 'forward-looking information' within the meaning of Canadian securities legislation. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of our management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Forward-looking statements or information herein include, but are not limited, to statements or information with respect to the market's response to volumetric capture, virtual reality, and mixed reality technologies or to the Web3, and Blockchain sectors.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of AMPD to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, but are not limited to: general business, economic, competitive, geopolitical, technological and social uncertainties; uncertainties in regard to the development and direction of cloud computing solutions and virtual production; the possibility of competing superior technology; uncertain capital markets; other risks related to the inability of a party to perform its obligations, as well as those factors discussed in the section entitled "Risk Factors" in the Company's Form 2A Listing Statement dated October 17, 2019 and "Risk and Uncertainties" in the Company's most recent Management Discussion and Analysis filed on SEDAR.

Although the forward-looking information is based on our management's reasonable assumptions at the date such statements are made, there can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. AMPD does not undertake to update or revise any forward-looking information, except in accordance with applicable securities laws. All forward-looking information contained in this news release is qualified by this cautionary statement.

For further information about Departure Lounge Inc., please contact: Kajol Bhatia, Telephone: [phone], Email: [email protected].

For further information about AMPD Ventures Inc., please contact: Neil Simon, CEO, Telephone: [phone], Email: [email protected]. 

SOURCE AMPD Ventures Inc.