Maple Peak Announces Extension of Exclusivity Period With Citizen Journalism Network (CJN) Invest Ltd.

For further information, contact:

Maple Peak Investments Inc.
Dennis Tam, CEO and Director
Tel: (852) 3955 1200
dennis@maplepeakinvestments.com

Thurman So, Director
Tel: (604) 488-5219
thurman@maplepeakinvestments.com

Maple Peak Investments Inc. (TSXV - MAP) (“MAP” or the “Company”) announced today that the Company and Citizen Journalism Network (CJN) Invest Ltd. (“CJN”), a private company incorporated under the laws of the Marshall Islands, have agreed to extend the exclusivity period until the earlier of (i) completion of the Transaction (as defined below), or (ii) February 28, 2025, in relation to the proposed acquisition of MAP by CJN by way of a reverse takeover (the "Transaction") which was previously announced in the news release dated May 13, 2024.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241223327403/en/

Mario Nawfal, CEO of Citizen Journalism Network (left) and Dennis Tam, CEO of Maple Peak Investments Inc. (right) (Photo: Business Wire)

As previously announced, the proposed Transaction is subject to a number of conditions, including but not limited to, completion of due diligence reasonable or customary in a transaction of a similar nature, the preparation and execution of definitive agreements, such consents and approvals as may be required by the parties, including, but not limited to, approvals of the board of directors and shareholders of each of MAP and CJN, as may be required, and exchange and other approvals and consents necessary to complete the proposed Transaction. The Company will issue a subsequent news release upon entry into definitive agreements with CJN.

Dennis Tam, CEO of MAP, commented: "We are pleased to see this proposed deal continuing to move forward with CJN. We are making progress on the transaction, and hope to complete all relevant work streams and get ready to sign definitive agreements by the end of February, 2025. CJN, under the leadership of CEO Mario Nawfal, has shown both foresight and a pioneering mindset with respect to the rapidly expanding global media trend, as well as a focus in aligning and merging monetization with the media and tech sectors. We are impressed by Mario’s dedication and perseverance in propelling the growth of CJN and making Web3 accessible to the masses. We look forward to collaborating with Mario and CJN and progressing towards completion of this milestone transaction."

CJN and its Business

Citizen Journalism Network (CJN) is a decentralized media group and incubator, and it is one of the fastest-growing media footprints globally. Building on the ethos of X’s and Elon Musk's mission statement to be the globe's town square, CJN champions free expression and the core belief that every voice has the power to impact the world. CJN has pioneered record-breaking citizen journalism coverage of key events with balanced accounts that carry no associated agenda or censorship. Additionally, the business boasts ownership of one of the leading tech/Web3 VC incubators. Together with a media monetization model, CJN is poised to continue growing both organically and through mergers and acquisitions within the alternative media.

The TSXV has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release.

Forward-Looking Information

This news release contains forward-looking information based on current expectations. Statements about the closing of the Transaction, including but not limited to, expected terms of the Transaction, the number of securities of the parties that may be issued in connection with the Transaction, the private placement financing, waiver of sponsorship, the business and operations of CJN, and the parties’ ability to satisfy closing conditions and receive necessary approvals are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the Transaction will occur or that, if the Transaction does occur, it will be completed on the terms described above. MAP assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

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 press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241223327403/en/