PHP Ventures Acquisition : Confirms Funding to Extend Period to Consummate Initial Business Combination - Form 8-K

PHP Ventures Acquisition Corp. Confirms Funding to Extend Period to Consummate Initial Business Combination

Miami Beach, Florida - August 16, 2023 - PHP Ventures Acquisition Corp (NASDAQ: PPHPU, PPHP, PPHPR, PPHPW), a special purpose acquisition company (the "Company"), announced that it caused to be deposited $110,796.88 into the Company's trust account for its public stockholders, allowing the Company to extend the period of time it has to consummate its initial business combination by one month-from August 16, 2023 to September 16, 2023 (the "Extension"). The Extension is the first of twelve (12), one-month extensions permitted under the Company's governing documents.

Previously, on June 13, 2023, the Company caused to be deposited $110,796.88 into the Company's Trust Account to allow the Company to extend the period of time it had to consummate its initial business combination by one month from June 16, 2023, to July 16, 2023. On July 13, 2023, the Company also caused to be deposited an additional $110,796.88 into the Company's Trust Account to allow the Company to further extend the period of time it had to consummate its initial business combination from July 16, 2023 to August 16, 2023 (collectively, the "Prior Extensions"). The Prior Extensions were permitted under the Company's governing documents.

About PHP Ventures Acquisition Corp

PHP Ventures Acquisition Corp. (the "Company") is a blank check company incorporated in the State of Delaware on April 13, 2021. The Company was formed for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation with, purchasing all or substantially all of the assets of, entering into contractual arrangements with, or engaging in any other similar business combination with one or more businesses or entities ("Business Combination"). The Company is led by its Chief Executive Officer, Marcus Choo Yeow Ngoh.

Forward Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements, including those set forth in the Risk Factors section of the Company's proxy statement filed on July 31, 2023 with the Securities and Exchange Commission ("SEC"). Copies are available on the SEC's website, www.sec.gov. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any statement is based.

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Chris Tyson

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