VANCOUVER, British Columbia, June 21, 2022 (GLOBE NEWSWIRE) —

Alpha Metaverse Technologies Inc.

(

CSE:




ALPA



) (

FSE:




9HN0



), (

OTC PINK:




APETF



) (“

Alpha

” or the “

Company

”) a technology company that focuses on emerging markets in esports, mobile gaming, ecommerce, blockchain, and high growth opportunities, is pleased to announce it has signed a partnership with GEMS Technology LTD (“GEMS”) to utilize Alpha’s Gaming as a Service (“GaaS”), Mana.

Alpha’s GaaS, Mana, offers a fully customizable white label tournament engine that allows organizations and brands to launch their own gaming platforms without having to fund technological or backend systems. Mana fully supports Web3 assets such as cryptocurrencies and “Play 2 Earn” games. Mana provides the technology, the backend, reporting, and more while organizations and brands will own the customer experience in their app and/or website. Mana allows the Company to provide gaming content on a continuous revenue model.

“The development and now successful sales of Mana is an important milestone for Alpha, as it provides the company with recurring revenue, strong partnerships and significant upside user growth,” stated Brian Wilneff, CEO of Alpha. “We are excited to help GEMS become a world leading Web3 esports tournament platform.”

“We are very excited to be working along with Alpha and using Mana to build out our own successful esports tournament engine,” said, GEMS CEO Andy Koh. “Mana will be used to build and grow our tournament engine and incorporate our web3 assets. We will be utilizing our cryptocurrency and developing our ‘Play 2 Earn’ games.”

About Alpha Metaverse Technologies Inc.

Alpha Metaverse Technologies Inc. is a technology company that focuses on emerging industries in Esports, mobile, console and web-based gaming, ecommerce, and other high growth opportunities such as augmented reality / virtual reality Web3 and Blockchain-based businesses. Through a strong portfolio of technology assets and products such as GamerzArena and HeavyChips, Alpha brings a unique mass-appeal focus to modern gaming platforms. Learn more at:


www.alphametaverse.com

Contact:

Investor Relations: [email protected] – 604 359 1256

Media and Public Relations: [email protected]

On Behalf of The Board of Directors

Brian Wilneff

Chief Executive Officer

Forward-Looking Statement

This news release contains “forward-looking information” within the meaning of applicable securities laws relating to statements regarding the Company’s business and plans, including with respect to undertaking further acquisitions, incorporation of Shape’s abilities into the Company’s portfolio of gaming solutions, cross-selling across business units, development of further gaming intellectual property and metaverse gaming experiences, future value of the metaverse industry and the Company’s ability to position itself to capitalize on the metaverse industry. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Company does not complete any further acquisitions; that the Company is unable to incorporate Shape’s abilities into its portfolio of gaming solution; the Company’s inability to cross-sell across business units; the risk that the Company is unable to develop further gaming intellectual property and metaverse gaming experiences; the risk the future value of the metaverse industry does not materialize; the risk the Company is unable to position itself to capitalize on the metaverse industry; and that the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct and makes no reference to profitability based on sales reported. The statements in this news release are made as of the date of this release.

The CSE has not reviewed, approved, or disapproved the content of this press release