Toronto, Ontario – TheNewswire - December 22, 2023 - Rita Alter ("Acquiror"), Chief Executive Officer, Secretary, and director of A-Labs Capital V Corp. (TSXV: ALBA.P) (the "Company"), announces that on December 21, 2023, the Acquiror through Alterego Ltd., a company controlled by the Acquiror, purchased 329,281 common shares (“Common Shares”) in the capital of the Company (“Purchased Shares”) at an average price of $0.66 per Purchased Share and for aggregate gross proceeds amounting to $217,391, pursuant to a private purchase and sale agreement.

Prior to the sale of the Purchased Shares, the Acquiror owned and/or controlled 1,572,000 Common Shares and 133,024 stock-options ("Options”) to acquire 133,024 Common Shares, representing approximately 23.63% of the outstanding Common Shares of the Company on a non-diluted basis, and approximately 25.13% on a partially diluted basis, assuming the exercise of all Options.

Following completion of the sale of the Purchased Shares, the Acquiror owns and/or controls, including through Alterego Ltd., 1,901,281 Common Shares and 133,024 Options to acquire 133,024 Common Shares, representing approximately 28.59% of the outstanding Common Shares of the Company on a non-diluted basis and approximately 29.99% on a partially diluted basis, assuming the exercise of all Options.

The Purchased Shares will be held in escrow under an escrow agreement, dated June 11, 2021, between the Company, TSX Trust Company, and various holders of outstanding Common Shares of the Company (the "Escrow Agreement"). The Purchased Shares will continue to be held in and released from escrow in accordance with the Escrow Agreement.

The Purchased Shares were acquired for investment purposes. Depending on market conditions, the Acquiror may, from time to time, acquire additional securities, exercise convertible securities, dispose of some or all of the existing or additional securities or may continue to hold the securities of the Company.

This press release is issued pursuant to the requirements of National Instrument 62-103- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. For further information and to obtain a copy of the early warning report that will be filed with the applicable securities commissions, please view the Company's profile on the SEDAR+ website at www.sedarplus.ca.

For further information, please contact:

Rita Alter
Chief Executive Officer & Secretary
Telephone: (972) 545-4914
E-mail: rita@alabs.co

NEITHER THE TSX VENTURE EXCHANGE INC. NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.