VANCOUVER, British Columbia, March 10, 2022 (GLOBE NEWSWIRE) -- Cloud Nine Web3 Technologies Inc. (CSE: CNI) (OTC: CLGUF) (FRANKFURT: 1JI0) ("Cloud Nine" or the "Company"), a leading decentralized network and data storage technology company, is pleased to announce the appointments of James Floreani and Daryn Fahlman to the advisory board.

Mr. Floreani is a serial entrepreneur who has successfully built and run multiple start-ups over the last 8 years. He is the founder and CEO of Arcadia Web3 Technologies Inc., a company aiming to bridge the gap between non-crypto users and the cryptoverse. Founder and CEO of Jayconomics, James also runs a successful YouTube channel and investor community that covers the investment landscape with a strong focus on early-stage growth investments. Additionally, he is an advisor for several private and public technology companies as well as crypto-related projects.

"James' extensive experience and expertise in crypto will be invaluable as Cloud Nine focuses on increasing its userbase and monetizing its VPN. We look forward to his involvement, strategic insights and guidance to the Board," said Lucas Russell, CEO.

Mr. Fahlman has over 25 years of capital markets experience leading over $4 billion of growth across technology, mining, energy, and infrastructure sectors. He has been advising boards internationally and domestically, providing corporate governance, business integration, organizational effectiveness, risk management and idea execution. An entrepreneur and adventurer, Daryn has owned several private companies, and enjoys racing sailboats competitively.

Lucas Russell, CEO, commented, "Daryn is an industry professional and will bring valuable insights to our advisory board. We look forward to working closely with him as he helps identify key areas of focus and support the acceleration of the Company's business plan."

"We are pleased to welcome James and Daryn to Cloud Nine's advisory board. The Company is bolstering its leadership team to support its next phase of growth and development and the addition of James and Daryn affirms our commitment to grow the business and increase shareholder value," continued Mr. Russell.

ON BEHALF OF THE BOARD,
Cloud Nine Web3 Technologies Inc.

Lucas Russell
President & CEO
(604) 669-9788

About Cloud Nine Web3 Technologies Inc.

Cloud Nine is a diversified technology company focused on leveraging its proprietary Web 3.0 technology products to enable the decentralized movement among consumers and business alike. Web 3.0 enables a sustainable world where decentralized users and machines are able to interact with data, value and other counterparties via a substrate of peer-to-peer networks without the need for third parties creating many benefits such as giving each user full control and ownership of all personal and corporate data.

For further information, please contact:
Paul Searle
Corporate Communications
Citygate Capital Corp
Phone: (778) 240-7724
psearle@citygatecap.com

Neither the Exchange nor its regulation services provider accepts responsibility for the adequacy of accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding: the expansion and monetization of the Limitless VPN; the growth of the Company's userbase; growth strategies of the Company; and the ability of the Strategic Advisors to use their experience to positively impact Cloud Nine's business. Factors that could cause actual results to differ materially from those in forward-looking statements include: the continued availability of capital and financing; failure to obtain any approvals, permits, approvals and licenses required to operate the business; technology integration; the impact of technology changes on the industry; lack of demand for the Company's products and services; fluctuations in access from the Company's userbase; userbase utilizing inefficient or legacy hardware and software; competition; increase in operating costs; litigation; loss of key employees, consultants and directors; security threats; privacy and cybersecurity risks and failures; failure to develop new and innovative products and services; failure of counterparties to perform their obligations; the impact of the Covid-19 pandemic on the Company's ability to operate and hire personnel; and adverse general economic, market or business conditions. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products and services, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, and the ability to secure sufficient capital to complete its business plans. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Such forward-looking statements should therefore be construed in light of such factors, and, except as required by applicable law, the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.