Appreciated Media Announces Return of Shares to Treasury

Vancouver, British Columbia--(Newsfile Corp. - October 5, 2020) - Appreciated Media Holdings Inc. (TSXV: AMH) (OTCQB: AMEFF) ("Appreciated Media" or the "Corporation") announces the cancellation and return to treasury of 6,995,653 common shares in the capital of the Corporation (the "Performance Shares").

In connection with the completion of its qualifying transaction, the Corporation issued an aggregate of 7,473,935 Performance Shares pursuant to the terms of a performance share agreement dated June 30, 2017, that was entered into among the Corporation and certain consultants and advisors of the Corporation (the "Performance Share Agreement"). Upon issuance, the Performance Shares were deposited into escrow subject to the satisfaction of certain release conditions to be satisfied by June 30, 2020. The board of directors of the Corporation has determined that the release conditions were not satisfied by June 30, 2020, and the Corporation has cancelled and returned an aggregate of 6,995,653 Performance Shares to its treasury.

In connection with its efforts to cancel and return the Performance Shares to treasury, the Corporation was advised that an aggregate of 479,282 Performance Shares were inadvertently released from escrow. The Corporation has requested that each individual to whom the Performance Shares were inadvertently released return such shares to the Corporation for cancellation and, if such shares are not returned, it will consider appropriate avenues of recourse.

With the cancellation of the 6,995,653 Performance Shares, the Corporation currently has 48,237,752 common shares in the capital of the Corporation issued and outstanding.

About Appreciated Media Holdings Inc.

Appreciated Media (TSXV: AMH) (OTCQB: AMEFF) is a multifaceted entertainment company based in Vancouver. The Corporation has divisions in the film, music and television industries. The Appreciated Media team is extremely well-versed in a variety of entertainment delivery platforms and plans to become a top-tier entertainment company rising to the level of success achieved by other companies originally formed in Vancouver.

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

Forward-Looking Statements

This press release contains forward-looking information and forward-looking statements (collectively, "forward-looking statements") as such terms are defined by applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate," "believe," "plan," "estimate," "expect," and "intend," statements that an action or event "may," "might," "could," "should," or "will" be taken or occur, or other similar expressions. Forward-looking statements are subject to a number of known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond Appreciated Media's control, and Appreciated Media's actual results could well differ materially from those stated or implied in forward-looking statements due to many various factors. Although Appreciated Media believes that the expectations reflected in the forward-looking statements are reasonable, Appreciated Media cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, one should not place undue reliance on forward-looking statements. All forward-looking statements contained in this press release are made as of today's date, and Appreciated Media undertakes no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further details, please see the Corporation's documents filed under the Corporation's profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com.

For investor inquiries, please contact:

Stephen Brown, Chief Executive Officer
Email: sb@appreciatedmedia.com
Phone: 1-604-638-4890

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/65162