TORONTO--(BUSINESS WIRE)--Menē Inc. (TSX-V:MENE) (US:MENEF) ("Menē" or the "Company"), an online 24 karat jewelry brand, announces the cancellation and re-grant to its Chief Executive Officer of an aggregate of 7,469,437 incentive stock options (the "Stock Options") to purchase Class B subordinate voting shares of the Company (the "Class B Shares") under the Company's incentive stock option plan.

Under TSXV Policy 4.4 – Security Based Compensation, the cancellation and re-grant of security based compensation to the same person within a one year period requires approval of disinterested shareholders of the Company. The Company intends to seek disinterested shareholder approval for the grant of the Stock Options at its next annual general and special meeting of shareholders currently scheduled for October 10, 2024.

Subject to shareholder and TSX Venture Exchange approval, the Stock Options will be exercisable at a price of $0.085 per Class B Share and vest according to the schedule below:

1. 1,493,888 options vesting on October 10, 2024
2. 1,493,888 options vesting on September 7, 2025
3. 1,493,888 options vesting on September 7, 2026
4. 1,493,888 options vesting on September 7, 2027
5. 1,493,885 options vesting on September 7, 2028

The Stock Options shall have a term of ten years from the original date of grant, being September 7, 2023.

About Menē Inc.

Menē crafts pure 24 karat gold and platinum jewelry that is transparently sold by gram weight. Through mene.com, customers may buy jewelry, monitor the value of their collection over time, and sell or exchange their pieces by gram weight at prevailing market prices. Menē was founded by Roy Sebag and Diana Widmaier-Picasso with a mission to restore the relationship between jewelry and savings. Menē empowers consumers by marrying innovative technology, timeless design, and pure precious metals to create pieces which endure as a store of value.

For more information about Menē, visit mene.com.

Forward-Looking Statements

This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. In particular, but without limiting the foregoing, this news release contains forward-looking information pertaining to the business plans and goals of the Company and shareholder and regulatory approvals for the Stock Options.

This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: the inability to successfully acquire and/or develop jewelry manufacturing facilities; an inability to predict and counteract the effects of pandemics and natural disasters; capital market conditions; restriction on labour and international travel and supply chains; failure to comply with environmental and health and safety laws and regulations; operating or technical difficulties in connection with the manufacture, sale and distribution of jewelry; actual audited results differing from reported unaudited results; global economic climate; dilution of the Company's shares; the Company's limited operating history; future capital needs and uncertainty of raising capital; the competitive nature of the jewelry industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology and manufacturing change; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; theft and risk of physical harm to personnel; reliance and availability of key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Media and Investor Relations Inquiries:
Gavin Johnson
Chief Financial Officer
Menē Inc.
ir@mene.com
+ 1 289 748 3702