MAQUIA CAPITAL ACQUISITION CORPORATION ANNOUNCES SPONSOR MONTHLY CONTRIBUTION OF 2.5% ADDITIONAL FOUNDER SHARES FOR EXTENSION AMENDMENT

Miami, FL, Jan. 23, 2024 (GLOBE NEWSWIRE) — Maquia Capital Acquisition Corporation (“Maquia” or the “Company”) (Nasdaq: “MAQC”, “MAQCU”, “MAQCW”) announced today that, in connection with the Company’s upcoming special meeting of the stockholders (the “Special Meeting”) to consider and approve an extension of time for the Company to consummate an initial business combination from February 7, 2024 to August 7, 2024 (the “Extension”), on January 23, 2024, Maquia Investments North America, LLC (the “Sponsor”) or its designees and, Maquia Capital Acquisition Corporation (the “Company”) commenced negotiation with unaffiliated third parties (“Third Parties”) for a non-redemption agreement (“Non-Redemption Agreement”) in which such third parties would agree not to redeem a currently unspecified number shares of the Company’s Class A common stock purchased by such Third Parties in the initial public offering (“Non-Redeemed Shares”) in connection with the special meeting of the stockholders called by the Company (the “Special Meeting”) to consider and approve an extension of time for the Company to consummate an initial business combination (the “Extension Proposal”) from February 7, 2024 to August 7, 2024 (the “Extension”). In exchange for the foregoing commitments not to redeem such Non-Redeemed Shares, the Sponsor has agreed to transfer to such Third Parties  2.5% per month of the Non-Redeemed Shares up to a maximum of 6 months (depending upon the month the initial business combination is consummated), of the Company’s Class A common stock held by such Third Parties, immediately following the consummation of an initial business combination, if the Third Parties continue to hold such Non-Redeemed Shares through the Special Meeting.

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