VANCOUVER, B.C. – Alpha Metaverse Technologies Inc. (CSE: ALPA) (OTC:APETF) (FRA: 9HN0), (“Alpha” or the “Company”), is pleased to announce that it plans to change its name from “Alpha Metaverse Technologies Inc.” to“ AlphaGen Intelligence Corp.‎”, and its ticker symbol from “ALPA” to “AIC”,‎ subject to the approval of the Canadian Securities Exchange (the “CSE”). The Company expects the name and ticker changes to take effect on June 14, 2023, and for its common shares to begin trading on the CSE under the new name and new ticker symbol on such date.The Company will also be assuming a new CUSIP number (02080J107), and a new ISIN number ‎(CA02080J1075) for is common shares.‎

About Alpha Metaverse

Alpha Metaverse Technologies Inc. (CSE: ALPA) (OTC: APETF) (FRA: 9HN0) is a publicly traded company, holding a portfolio of assets in metaverse, gaming and generative AI. Operational units include: Shape Immersive, a full service metaverse studio building the future of web3 gaming and virtual retail experiences for Fortune 500 companies and beyond through 3D, NFT, XR and game production; MANA, a custom-built SaaS solution and innovation lab that empowers partner companies to level up their community engagement by launching their own gaming platforms; GamerzArena, a gaming platform that provides an esports ecosystem for all gamers. The platform provides video game contests for top titles where gamers can compete for cash and prizes. Alpha clients and partners include RTFKT, Olympics, Star Altas, Red Bull, Intel, TED and more. Learn more at: www.alphagen.co/

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Contact

Investor Relations: ir@alphametaverse.com - 604-359 1256

On Behalf of The Board of Directors‍

Brian Wilneff

Chief Executive Officer

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Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on theCompany’s current belief or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the proposed name change, including the anticipated timing of the name change and the associated ticker symbol change.

Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including the assumption that the Company will receive CSE approval for the name change and the ticker symbol change and will complete the name change and the ticker symbol change on the timeline anticipated. Those assumptions and factors are based on information currently available to the Company. Although such statements are based on reasonable assumptions of the Company’s management, there can be no assurance that any conclusions or forecasts will prove to be accurate.

Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include: the risk that the CSE does not approve the name change or ticker symbol change and the risk that the name change and ticker symbol change are not completed on the timeline anticipated, or at all; and the other risks set forth in the Company’s management’s discussion and analysis for the period ending March 31, 2023, filed on the Company’s SEDAR profile at www.sedar.com.The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

The CSE has not reviewed, approved or disapproved the content ofthis press release

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