NewsARCOLOGY TECHNICAL PAPER OUTLINES BREAKTHROUGHS ON ROADMAP TO UNSURPASSED SPEED, SCALE AND SECURITY WORLDS FIRST SELF-ORGANIZING, MULTIFACTOR-CONSENSUS BLOCKCHAIN REACHES NEW MILESTONES AS COMPANY PREPARES TO LAUNCH TESTNET VANCOUVER, BC, CANADA (December 4, 2019) Codebase Ventures Inc.("Codebase" or the "Company") (CSE: CODE - FSE: C5B OTCQB: BKLLF), an investment company, is providing an update on its portfolio holding Arcology, andits first technical paper for public review. We have been working to solve the major issues the blockchain world is facing today, including speed, scalability, security and high storage costs; and with Arcology, we have created the worlds first blockchain with enterprise-grade transaction speedsand scalability, said Arcology Founder, Mr. Laurent Zhang. Arcology solves the following problems that plague other blockchains: Expensive, slow storageUnscalable system architectureLack of serial executionUnsophisticated consensus algorithmsInefficient network communicationWeak security modelsFragmented ecosystems In the technical paper, Zhang outlines key technologies that he and his team developed to build a new blockchain concept that unites a few core features in a first-of-its-kind design: including cluster computing, parallel transaction processing, multi-factoringconsensus and self-organization. The result is enterprise-grade security, scalability and decentralization. Until now, blockchain networks were unable to offer all three qualities at once. This is known as the blockchain trilemma. At Arcology, we are broadening expectations of what blockchain can do in the real world, said Laurent Zhang, Arcologys founder and president. We are proving that blockchain not only competes with centralized systems, but outperforms them across the board.We are thrilled to help pave the way for blockchains imminent mass adoption, and were honored to serve the blockchain ecosystem, industry and community at this very exciting time. The technical paper represents the next step in Arcologys planned roll-out of its testnet, which will allow third-party programmers to build applications on the Arcology ecosystem. As detailed in the paper, Arcology has incorporated the Ethereum VM andis compatible with multiple virtual machines and smart contract languages. This allows developers to work in their preferred language and get started immediately. They can also move their smart contracts to Arcology with no modification required. Codebases Director, Brian Keane, believes this compatibility to be one of Arcologys most important selling points. Were thrilled with Laurents test results. His network is demonstrably fast, scalable and secure. But we see the greatest market opportunity in Arcologys ability to welcome all developers to its programming environment without friction. Were confidentthis will speed adoption and market penetration. The paper will be published on Arcologys new website (arcology.network)when it debuts next week. About Codebase Ventures Inc. The Companys mission is to make strategic investments in emerging sectors and markets, including cannabis and technologies such as blockchain and cryptocurrencies, where innovative business models and technologies have the potential to be transformativeand deliver the greatest value to shareholders. Codebase Ventures Inc. is a hands-on team of entrepreneurial and technology experts who invest early in great ideas. The Company operates from the understanding that emerging sectors including cannabis and technology are evolving rapidly, bringing earlyopportunities for strategic investments that can deliver exponential returns to shareholders. Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. For further information, please contact: Brian Keane, Director Investor Relations Telephone:1 (778) 806-5150 -TOLL FREE (877) 806-CODE (2633) E-mail:IR@codebase.ventures Forward Looking Statements Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including,without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectivesof or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words suchas "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statementsto the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ fromany future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to,the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, mayprove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, orotherwise, except as required by securities laws. 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