Many Bright Ideas Announces Loan

Vancouver, British Columbia--(Newsfile Corp. - August 31, 2026) - Many Bright Ideas Technologies Inc. (TSXV: MBI.H) ("Many Bright Ideas" or the "Company") announces that it has formalized the outstanding obligations owed to Weir-Jones Engineering Consultants Ltd. ("Weir-Jones Engineering"), a non-arm's length party to the Company, by entering into a demand promissory note (the "Promissory Note") effective August 27, 2026 in the aggregate amount of US$181,761.18 (the "Loan"). The Promissory Note is non-interest-bearing, unsecured, and payable five days after demand. The Promissory Note remains under review by the TSX Venture Exchange (the "Exchange") and is subject to Exchange acceptance.

The Loan is not convertible into securities of the Company without prior acceptance of the Exchange. No finder's fee, bonus securities or other compensation is payable to the lender or any third party in connection with the Loan. The Company intends to repay the Loan through a shares-for-debt settlement, subject to Exchange acceptance, or from future financing activities.

Multilateral Instrument 61-101

The entering into of the Promissory Note is a "related party transaction" under Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions ("MI 61-101") as Weir-Jones Engineering is a company under the control of Iain Weir-Jones, Chairman, Chief Executive Officer, President and a director of the Company. The Company is exempt from the formal valuation requirement in Section 5.4 of MI 61-101 in reliance on Section 5.5(b) of MI 61-101 as the Company is not listed on a specified market within the meaning of MI 61-101. Additionally, the entering into of the Promissory Note is exempt from the minority approval requirement in Section 5.6 of MI 61-101 in reliance on Section 5.7(1)(e) of MI 61-101 as (i) the Company is in a situation of serious financial difficulty, (ii) the Loan is designed to improve the financial position of the Company, (iii) the circumstances described in Section 5.5(f) of MI 61-101 are not applicable, (iv) the Company's board of directors and independent directors (as such term is defined in MI 61-101) had, acting in good faith, determined that the Company is in serious financial difficulty and the Loan would improve its financial position, and the terms of the Promissory Note are reasonable in the circumstances of the Company, and (v) there was no other requirement, corporate or otherwise, to hold a meeting to obtain any approval of the Company's shareholders.

The Company did not file a material change report more than 21 days before the entering into of the Promissory Note as the terms were not settled until shortly prior to execution and the Company wished to formalize the debt on an expedited basis in connection with its reinstatement to trading application with the Exchange.

Trading Suspension Update

The Company also announces that on May 11, 2026 the British Columbia Securities Commission (the "BCSC") issued a failure-to-file cease trade order (the "Cease Trade Order") against the Company as a result of the Company's failure to file its annual audited financial statements and accompanying management's discussion and analysis and related CEO and CFO certificates for the financial year ended December 31, 2025 by the filing deadline as required under applicable Canadian securities laws. As a result of the Cease Trade Order, trading in the shares of the Company was suspended effective May 12, 2026. The Company has since filed all of the foregoing outstanding documents, and, as a result, the BCSC revoked the Cease Trade Order. The Company has applied to the Exchange so that the trading of the Company's securities is reinstated.

Audit Committee Update

The Company also announces that it has reconstituted its audit committee effective August 27, 2026. The audit committee is now comprised of Shumsheer Sidhu (Independent), David Diebolt (Independent) and Toby Weir-Jones.

About Many Bright Ideas Technologies Inc.

Many Bright Ideas Technologies Inc. is a company currently listed on the NEX Board of the Exchange.

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

Cautionary Statements Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forwardlooking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the Company's application for reinstatement to trading on the Exchange and the Company's intention to repay the Loan through a shares-for-debt settlement or future financing activities. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.

In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will receive the necessary regulatory approval for the Promissory Note, that the Exchange will reinstate trading in the Company's securities, and that the Company will be able to complete a shares-for-debt settlement or obtain future financing on acceptable terms.

These forwardlooking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the Company will not receive the necessary regulatory approval for the Promissory Note, that the Exchange will not reinstate trading in the Company's securities, or that the Company will be unable to complete a shares-for-debt settlement or obtain future financing on acceptable terms.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, 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 statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312263

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