Early Warning Press Release of Roots Properties

VANCOUVER, British Columbia, Sept. 19, 2020 (GLOBE NEWSWIRE) -- This news release is issued by Roots Properties Inc. ("Roots Properties") pursuant to National Instrument 62-103 ? The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103") and National Instrument 62-104 ? Take-Over Bids and Issuer Bids with respect to the acquisition of unsecured convertible debentures of Appreciated Media Holdings Inc. (the "Company").

Roots Properties is an investment holding company incorporated under the Business Corporations Act (British Columbia) with a head office at 604-12 Water Street, Vancouver, British Columbia V6B 1A5.

Pursuant to a subscription agreement dated September 18, 2020, Roots Properties, a corporation wholly owned by Anastasia Belecos and controlled by Kirk Shaw, a former director of the Company, acquired unsecured convertible debentures of the Company from treasury evidencing an aggregate principal indebtedness of $900,000 (the "Debentures") for an aggregate purchase price of $900,000. The Debentures held by Roots Properties are convertible into 7,826,087 common shares in the capital of the Company (the "Common Shares") at a conversion price of $0.115 per share.

The Debentures are convertible into 7,826,087 Common Shares representing approximately 12.4% of the issued and outstanding Common Shares, calculated on a partially diluted basis. Prior to the acquisition of the Debentures, Roots Properties directly owned 2,122,901 Common Shares, Anastasia Belecos did not own any shares and Kirk Shaw owned 229,212 Common Shares and $100,000 principal amount of Debentures. Assuming the full exercise of the Debentures held by Roots Properties, Roots Properties would own or control 9,948,988 Common Shares representing approximately 15.78% of the issued and outstanding Common Shares on a partially diluted basis, Anastasia Belecos would own or control 9,948,988 Common Shares representing approximately 15.78% of the issued and outstanding Common Shares on a partially diluted basis and Kirk Shaw would own or control 11,047,765 Common Shares representing approximately 17.28% of the issued and outstanding Common Shares on a partially diluted basis, assuming the conversion of the Debentures held by Kirk Shaw.

The Debentures were acquired for investment purposes. Roots Properties has a long-term view of the investment and may purchase additional securities of the Company by private transaction or in the open market.

For further information, including a copy of the early warning report filed in respect of this transaction pursuant to NI 62-103, please contact Kirk Shaw at 604-218-3374.