Web3 Ventures Inc. Announces Successful Closing of Previously Announced Sale of the Company’s Securities, Oversubscribed Financing, and Implementation of New Management and Directors

TORONTO, March 21, 2023 (GLOBE NEWSWIRE) -- Web3 Ventures Inc. (the “Company” or “W3V”) is pleased to announce the closing of its previously announced non-brokered private placement (the “Financing”) as set out in its December 20, 2022 news release, which has been over-subscribed. Closing of the Financing is a condition to the closing of the previously announced securities purchase transaction also described in the Company’s news release of December 20, 2022 (the “Purchase Transaction”), which the Company is pleased to announce has also now closed.