VENERABLE VENTURES ANNOUNCES PROPOSED CONSOLIDATION

VANCOUVER, BC, April 24, 2024 /CNW/ - Venerable Ventures Ltd. (the "Company") (TSXV: VLV) announces that it intends to proceed with a consolidation of its common shares with a ratio of two pre-consolidation common shares for each one post-consolidation common share (the "Consolidation"). The Company expects to implement the Consolidation in the coming weeks and will disseminate a further news release which will set out the effective date for the Consolidation. The Consolidation is subject to acceptance from the TSX Venture Exchange.

On behalf of the Board of Directors,

VENERABLE VENTURES LTD.

Alan MacDonald, Chief Executive Officer 

Phone: [phone]

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the transfer of the listing of the Company to the NEX board and the anticipated resumption of trading. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain capital markets; and delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that the Transaction will proceed on the terms contemplated above or at all and that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Venerable Ventures Ltd.