Menē surpasses CAD$100 million milestone of total gold held by clients

Menē Inc. (TSX-V:MENE) (US:MENEF) (“Menē” or the “Company”), an online 24 karat jewelry brand, is pleased to announce that it has surpassed the milestone of its clients holding over CAD$100 million in gold jewelry.

As of March 8, 2024, Menē clients held just over CAD$100 million in Menē gold jewelry and just over CAD$10 million in Menē platinum jewelry, for a total of CAD$110 million in Menē jewelry. To achieve this feat, a total of nearly 150,000 pieces of jewelry have been sold since the inception of the company in 2017.

STATEMENT FROM VINCENT GLADU, CEO OF MENĒ.

We are excited to have surpassed the CAD$100 million milestone of total gold held by clients, which is a testament to our existing clients’ unwavering support of our mission and our brand, as well as our new clients’ interest in investing in something pure, real and tangible.

Moreover, the current value of the jewelry held by our clients is about 4x the gross profit Menē earned since the founding of the business. In this respect, Menē is a rarity in the world of luxury goods. In today’s economy, where value is ever more ephemeral and product quality and purity is often questionable, Menē jewelry stands out as a store of value and a timeless heirloom, exquisitely hand-crafted by our jewelers for each and every one of our clients.

STATEMENT FROM DIANA W. PICASSO, CHIEF ARTISTIC OFFICER.

This milestone is a momentous event in Menē’s history and we thank all our clients for their support, without whom we would not be here today.

With Menē, we are democratizing access to ethically sourced gold and platinum, which holds such an important place in history, but also in our future, as our clients pass their Menē investments on to their progeny. To wear Menē is to have a deep sense of value and tradition and that is certainly what we strive to create for ourselves and our clients with the brand. I believe that these concepts are more important than ever today.

ABOUT MENĒ INC.

Menē crafts pure 24 karat gold and platinum jewelry that is transparently sold by gram weight. Through mene.com, customers may buy jewelry, monitor the value of their collection over time, and sell or exchange their pieces by gram weight at prevailing market prices. Menē was founded by Roy Sebag and Diana Widmaier-Picasso with a mission to restore the relationship between jewelry and savings. Menē empowers consumers by marrying innovative technology, timeless design, and pure precious metals to create pieces which endure as a store of value. For more information about Menē, visit mene.com.

FORWARD-LOOKING STATEMENTS

This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. In particular, but without limiting the foregoing, this news release contains forward-looking information pertaining to the Company’s brand, business plans, goals and plan to democratize access to ethically sourced gold and platinum.

This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: the inability to successfully acquire and/or develop jewelry manufacturing facilities; an inability to predict and counteract the effects of pandemics on the business of the Company, including but not limited to the effects of COVID-19 and other infectious diseases presenting as major health issues and impacting the price of precious metals, capital market conditions, restriction on labour and international travel and supply chains; failure to comply with environmental and health and safety laws and regulations; operating or technical difficulties in connection with the manufacture, sale and distribution of jewelry; actual audited results differing from reported unaudited results; global economic climate; dilution of the Company’s shares; the Company’s limited operating history; future capital needs and uncertainty of raising capital; the competitive nature of the jewelry industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology and manufacturing change; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; theft and risk of physical harm to personnel; reliance and availability of key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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