EARLY WARNING NEWS RELEASE REGARDING INVESTMENT BY FULLBROOK THORPE INVESTMENTS LLP IN HEMPALTA CORP.

LONDON, March 20, 2024 /CNW/ - Fullbrook Thorpe Investments LLP ("FTI") is pleased to announce that it has today acquired 14,005,874 common shares (the "QT Shares") of Hempalta Corp. (formerly, Trail Blazing Ventures Ltd.) (TSXV: HEMP) ("Hempalta"). On March 19, 2024, Trail Blazing Ventures Ltd. ("TBV") completed its Qualifying Transaction (as such term is defined in the policies of the TSX Venture Exchange) pursuant to which it (among other things): (i) acquired all of the issued and outstanding securities of Hempalta Inc. in exchange for securities consideration; and (ii) changed its name to Hempalta Corp. (the "Qualifying Transaction"). The Qualifying Transaction is more fully described in the management information circular of Hempalta (under its previous name, Trail Blazing Ventures Ltd.) dated February 13, 2024 which is available on SEDAR+ at www.sedarplus.ca.

Immediately prior to the closing of the Qualifying Transaction, FTI did not hold any securities of TBV.  Upon the closing of the Qualifying Transaction, FTI holds the QT Shares representing approximately 16.99% of Hempalta's issued and outstanding common shares (on a non-diluted basis). In addition, FTI acquired 1,312,500 common share purchase warrants (the "QT Warrants") of Hempalta in connection with the Qualifying Transaction, of which (i) 1,000,000 of the QT Warrants each entitle FTI to acquire an additional common share of Hempalta for an exercise price of $0.10 per common share, and (ii) 312,500 of the QT Warrants each entitle FTI to acquire an additional common share of Hempalta for an exercise price of $0.20 per common share.  FTI would hold 18.58% of Hempalta's issued and outstanding common shares (on a non-diluted basis) upon exercise in full of the QT Warrants.  

FTI acquired the QT Shares and the QT Warrants in connection with the Qualifying Transaction, and were acquired for investment purposes. FTI has a long-term view of the investment and does not intend at this time to acquire in the market any additional common shares of Hempalta, or dispose of any of the QT Shares or shares acquired on exercise of the QT Warrants, but may in the future increase or decrease its shareholding in Hempalta depending on market conditions, reformulation of plans and/or other relevant factors. 

FOR FURTHER INFORMATION OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT REQUIRED BY SECURITIES LEGISLATION, PLEASE CONTACT: 

Fullbrook Thorpe Investments LLP
The Boardwalk, Mercia Marina, Findern Lane
Willington, Derbyshire DE65 6DW

SOURCE Fullbrook Thorpe Investments LLP