Amcomri Receives Failure-to-File Cease Trade Order

VANCOUVER, British Columbia, April 10, 2023 (GLOBE NEWSWIRE) — Amcomri Entertainment Inc. (“Amcomri” or the “Company”) (NEO: AMEN) (OTC: AMNNF) (Frankfurt: 25YO) announces that further to its press release dated April 3, 2023, the British Columbia Securities Commission (the “BCSC”) and the Ontario Securities Commission (the “OSC”), issued a failure-to-file cease trade order (a “FFCTO”) against the Company as a result of the Company’s failure to file, on or before March 31, 2023, its audited financial statements, management discussion & analysis, annual information form, and related officer certifications for the year ended December 31, 2022 (collectively, the “Required Filings”).

Every effort is being made by the Company to complete the Required Filings as soon as possible and the Company believes that it will be able to complete the Required Filings by April 14, 2023, after which time the Company will work with the BCSC and OSC to address concerns and have the FFCTO revoked.

The Company also confirms that there is no other material information concerning the affairs of the Company that has not been generally disclosed as of the date of this press release.

About Amcomri Entertainment Inc.

Amcomri Entertainment Inc. (NEO: AMEN) (Frankfurt: 25Y0) provides global distribution capabilities for independent movie, documentary and TV series producers as well as for its own in-house productions. With decades of experience across all key media platforms, Amcomri is rapidly becoming the go-to team for independent producers seeking the broadest possible audience for their productions. The Amcomri Entertainment Inc. group of companies includes 101 Films, 101 Films International, Hollywood Classics International, Amcomri Productions, Appreciated Media Global, Amcomri Productions and Abacus Media Rights.

For further information about Amcomri, see its disclosure documents on SEDAR at www.sedar.com or visit the company’s website at https://amcomrientertainmentinc.com/

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CAUTIONARY STATEMENT REGARDING FORWARD‐LOOKING INFORMATION:

This news release includes “forward‐looking information” as defined under applicable Canadian securities legislation. Forward‐looking information and statements include, but are not limited to, disclosure regarding possible events, that are based on assumptions about future economic conditions and courses of action, and, in certain cases, can be identified by the use of words such as “potential”, “propose”, “aim”, “depend”, “seeks”, “plans”, “expects”, “is expected”, “intends”, “anticipates”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “can”, “could”, “should”, “shall”, “would”, “might” or “will”, or the negative forms of any of these words and other similar expressions. Forward looking statements in this press release include, but are not limited to: the timing of the Company’s filing of the Required Filings, management’s ability to have the FFCTO revoked and interruptions to the Company’s business together with any other resulting consequences of the FFCTO. Forward‐looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward‐looking information. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, the capacity of the Company’s staff and auditor and any additional time needed to complete the Required Filings and uncertainties concerning the approval of the BCSC and OSC to revoke the FFCTO. Actual results and future events could differ materially from those anticipated in such forward looking information. Accordingly, readers should not place undue reliance on forward‐looking information. All forward looking information in this news release is made as of the date hereof and qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise such forward‐looking information, whether as a result of new information, future events or otherwise, except as required by law.

Investors are cautioned that, trading in the securities of the Company should be considered highly speculative. For a more detailed discussion such risks and uncertainties, please see the section entitled “Risk Factors” in the Company’s annual information form dated March 23, 2022, and available under the Company’s profile on SEDAR at www.sedar.com.