Neptune Digital Assets Provides Corporate Update and Financial Highlights

Neptune Digital Assets Corp. (TSX-V:DASH) (OTC:NPPTF) (FSE:1NW) (“

Neptune

” or the "

Company

") is pleased to announce that it has released its August 31, 2020 audited financial statements and management, discussion and analysis.

Below are a number of financial highlights pertaining to the August 31, 2020 year end and for the period subsequent to year end and up to the date of this News Release.

• Over the last two years the Company has been aggressively cutting costs and as such has achieved an annual positive net comprehensive income for its first time being $657,249 or $0.01 per share for the 12 months ended August 31, 2020.
• Assuming crypto prices stay constant or climb higher, we expect these earnings to improve significantly into 2021 and beyond with operating costs remaining relatively constant.
• Neptune had a 35% growth in total assets as of August 31, 2020 over the prior fiscal year and expects this to continue into Q1 and Q2 of the 2021 fiscal year given the rise in crypto prices since August 31, 2020.
• The Company’s cost cutting measures lowered cash costs for operations for the year by 34% from prior year to $368,559.
• The Company has zero debt at the year end and as of the date of this News Release.
• The Company commenced a diversification strategy during the year which resulted in over 8,000 DASH tokens liquidated and proceeds being directed into the Protocol Fund (USD$250,000) which was worth $392,088 as at August 31, 2020 and to purchase an additional 46 BTC with an average cost base of approximately $11,784 ($9,065 USD) per BTC.
• The Company had 50 BTC loaned to Genesis Trading as at August 31, 2020 earning 6.5% interest per annum paid in BTC monthly, providing a consistent income stream of BTC for re-investment.
• Subsequent to August 31, 2020, the Company acquired another 20 BTC in exchange for 3,118 DASH tokens, effectively averaging USD$10,510 per BTC. This BTC was also loaned out to Genesis Trading generating further BTC interest revenue for the Company.
• The Company’s three largest digital asset holdings as of the date of this release are 75 BTC, 138,500 ATOM and 6,070 DASH. The Company also holds positions in ETH, Litecoin, Stellar, NEO, OMG, QTUM, FTM as well as the investment in the Protocol Crypto Fund and cash for strategic crypto currency purchases and operations.
• The Company continues to purchase crypto monthly in order to dollar cost average and is always optimizing its crypto portfolio in order to maximize growth for shareholders.
• Neptune has been building a position in ETH subsequent to year end and is planning to join the Ethereum network with its move to a proof-of-stake consensus algorithm. Neptune will operate Ethereum validators that verify transactions on the network and receive revenue for the staking process. We plan to use the revenue to compound our growth of validators.

“All in all, 2020 has been a very challenging yet rewarding year for Neptune. Since our initial listing into a dismal bear market in 2018 we have stayed the course and stuck to our principles of sound management, low operating costs, negligible dilution and strategic growth of our crypto holdings. We are quite happy with where we are when compared to our peers, many of whom have negative working capital combined with net losses. We anticipate the crypto winter is behind us and it is only blue sky from here. We would like to thank all our shareholders who have stuck with us over the years,” stated Cale Moodie, Neptune CEO.

About Neptune Digital Assets Corp.

The Company has a diversified cryptocurrency portfolio with investments made in top market cap tokens, proof-of-stake cryptocurrencies, decentralized finance and associated blockchain technologies.

ON BEHALF OF THE BOARD

Cale Moodie, President and CEONeptune Digital Assets Corp.www.neptunedash.com

Forward-Looking Statements

This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans”, “proposes” or similar terminology. Forward-looking statements and information include, but are not limited to, the future prices of crypto currency and their likelihood of staying constant or climbing higher; the Company’s future earnings and operating costs; the Company’s future growth in total assets; the Company’s strategy to purchase crypto currency and optimize its crypto portfolio; the Company’s ability to effectively dollar cost average its purchases of crypto currency; and the future outlook of the crypto currency market generally. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the inherent risks involved in the cryptocurrency and general securities markets; the Company’s ability to successfully mine digital currency; revenue of the Company may not increase as currently anticipated, or at all; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties. The Company does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.