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BioHarvest Sciences Inc. ("BioHarvest" or the "Company") (CSE: BHSC) announces that it has granted a total of 395,000 stock options to consultants and employees. The stock options granted will vest quarterly over a 3-year period and are exercisable to purchase a common share of the Company at a price of $0.34 per share for a term of 10 years.

BioHarvest Sciences Inc. (CSE: BHSC) is a fast-growing Biotech firm listed on the Canadian Securities Exchange. BioHarvest has developed a patented bio-cell growth platform technology capable of growing the active and beneficial ingredients in fruit and plants, at industrial scale, without the need to grow the plant itself. This technology is economical, ensures consistency, and avoids the negative environmental impacts associated with traditional agriculture. BioHarvest is currently focused on nutraceuticals and the medicinal cannabis markets. Visit: www.bioharvest.com.

BioHarvest Sciences Inc. Ilan Sobel, Chief Executive Officer

For further information, please contact:

Dave Ryan, VP Investor Relations & Director Phone: 1 (604) 622-1186 Email: dave@bioharvest.com

All forward-looking statements are inherently uncertain and actual results may be affected by a number of material factors beyond our control. Readers should not place undue reliance on forward-looking statements. BHSC does not intend to update forward-looking statement disclosures other than through our regular management discussion and analysis disclosures.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.

Click here to connect with BioHarvest Sciences Inc. (CSE: BHSC) to receive an Investor Presentation

BioHarvest Sciences (CSE:BHSC), a biotechnology innovator, is targeting the international market demand for natural products that provide consumers with functional health and wellness. This includes consumer products ranging from foods enriched with active ingredients like antioxidants to cleaner and more consistent cannabis products. BioHarvest Sciences has developed biofarming, a proprietary breakthrough patented technology, capable of naturally-producing the active ingredients of a plant without having to grow the plant itself. The company has already proven the technology in the rapidly growing nutraceuticals market focusing on dietary supplements and the functional food and beverage ingredients market. Products such as BioHavest Sciences’ VINIA®, which is based on red grapes, has clinically- proven functional benefits, has already positively impacted the lives of thousands of Israelis and is approved for sale in the US.

The global cannabis market is expected to reach US$66.3 billion by the end of 2025, according to a report by Grand View Research. A large portion of the growth has been driven by the adoption of cannabis in the pharmaceutical industry as new products have been developed to treat severe medical conditions such as cancer, Parkinsons, Alzheimers and arthritis. However, issues with consistent cannabis supply can affect the long-term growth of the industry as more countries initiate cannabis programs and legislative reforms, posing potential difficulties for licensed producers to provide enough high-quality products to meet the demand.

BioHarvest Sciences Inc. believes that its biofarming technology is the solution to the cannabis supply and consistency problem. The technology isolates the active ingredient cells from the cannabis plant before multiplying (growing) them in the biofarming process. The technology can do this without using any solvent extraction, genetic modification or synthetic molecular processing techniques. To facilitate its biofarming operation, BioHarvest Sciences Inc. has built a production facility that can produce approximately one ton of active cannabis ingredient powder (equivalent to the cannabis plant dried bud) per year in a 100-square-meter space. The company intends to increase its production to 10 tons per year by 2022.

As of September 2019, the company produced its first cannabis cells in suspension with a cannabinoid profile that was identical to the original cannabis plant without growing the plant. Following a B2B business model, BioHarvest Sciences Inc. intends to sell its active ingredients as a powder for repackaging and formulation to its clients. In addition, the company may License the technology in order to accelerate the industry adoption curve.

In December 2021, the company released the news that it has now grown a significant amount (10kg) of cannabis biomass, all grown in proprietary bioreactors and without growing the plant. Following a B2B business model, BioHarvest Sciences Inc. intends to sell its active ingredients as a powder for repackaging and formulation to its clients. In addition, the company may License the technology in order to accelerate the industry adoption curve.

BioHarvest Sciences has already demonstrated the feasibility and viability of the biofarming technology through its commercially available product called VINIA®. In 2021, BioHarvest recorded US$2.4 million worth of sales orders for VINIA®, a nearly sixfold increase over 2020. The growth is driven by a growing customer base in Israel, and a successful ecommerce launch of VINIA® in the USA. The projected revenue this year is between US$5 million to US7 million, which represents a significant growth of 2.5X-3.5X over 2021.

VINIA® is based on many studies which have demonstrated that moderate consumption of red wine every day is able to have a positive impact on one’s overall heart health as a result of wine’s rich polyphenol content, specifically resveratrol. One 400mg capsule of VINIA® contains the same amount of resveratrol contained in one full bottle of Red Wine without the sugar, calories or alcohol found in red wine. Consumers can currently purchase the powder through the VINIA.com website in a 400-milligram daily dose after BioHarvest made it possible to also make VINIA® available online in the United States, the world's largest market for nutraceutical supplements.

At present, BioHarvest is unstoppable in disrupting industries with unique products and solutions. After VINIA®'s immense sales success, the company has trademarked its proprietary non-GMO biotech platform technology called "Bio-Plant CELLicitation™," replacing "BioFarming".

In an interview, BioHarvest CEO Ilan Sobel talked about Bio-Plant CELLicitation™, a platform technology growing plant cells in industrial-scale bioreactors and eliciting specific molecules to produce unique botanical compounds with high human utility value. Accoridng to Sobel, the unique platform technology allows them to grow full-spectrum, non-GMO cannabis.

""We can play in so many different areas, not just nutraceuticals, not just the cannabinoid space, but in many other areas where we're able to bring the power of the plant to the people," Sobel said.

Dr. Rakib is a serial entrepreneur and seasoned executive. He brings extensive experience in multiple industries. Prior to BioHarvest Sciences, Dr. Rakib co-founded Terayon Communication Systems, led the company from inception as its CEO, and managed its growth from $2M to $380M in revenue. Terayon reached a $7B market capitalization in 2000 and was later on acquired by Motorola. Prior to that, Mr. Rakib was a director of engineering at Cadence design systems which acquired Helios S/W where he served as CTO. Dr. Rakib holds a Ph.D. in Mechanical Engineering and a Ph.D. in Applied Mathematics.

Ilan, brings extensive experience in General Management, International Sales & Marketing, Manufacturing & Operations and leadership expertise in building large-scale businesses and billion- dollar brands. For the past 6 years, Ilan served as COO and transitioned to Chief Commercial Officer of Weissbeerger where he played a major leadership role in building a disruptive BIG Data, IOT & Software Company servicing major Beverage players which was recently purchased by ABInBev. Previously, Ilan served an 18-year stint as an International Employee of The Coca-Cola Company, where he played a pivotal role in key senior leadership positions generating significant revenue and profit growth and improving brand health trends across diverse global markets including the United States, China, South East and West Asia and South Africa.

With a Ph.D in Biotechnology and 20+ years of relevant experience, leading substantial research and development programs in both pharma and biotech, Dr. Hagay has lead the development and implementation of BioHarvest’s technology platform since inception. She previously worked in various leadership positions at BTG corporation which was acquired by FERRING Pharmaceuticals. Dr. Hagay specializes in genetic engineering, molecular biology, tissue culture, monoclonal antibodies and clinical trials. She is the author and co-author of several peer-reviewed – published in scientific papers.

David Ryan has extensive experience in investment and public markets. For the past 20+ years, he has been part of in bringing multiple initial public offerings to market. He has helped raise both equity and debt financings for numerous public companies in both primary and secondary financings as well as served on the board of public companies and in various roles.

Mr. Popper was the co-founder and President of MedReleaf Corp., which was acquired in 2018 for $2.5 billion USD. Prior to its acquisition, MedReleaf was one of the largest and most reputable vertically integrated medical Cannabis producers in the world. Mr. Popper brings over 15 years of international partnerships, entrepreneurial ventures, disruptive industry, large-scale project development, engineering and investment experience. He holds a B.Sc. in Civil Engineering, a M.Sc. in Environmental Fluid Mechanics from Stanford University, and an MBA from the Recanati School of Business.

Dr. Azachi brings 20 years of experience in biochemistry, genetic engineering, tissue culture, molecular biology, and clinical & pre-clinical trials. Prior to BioHarvest, He served as technology Director at HealOr Ltd, a Biopharmaceutical company developing topical therapeutics. Prior, he led product development at the research and development department of Colbar LifeScience, a Johnson & Johnson Company. Dr. Azachi holds a Ph.D in microbiology from the Hebrew University of Jerusalem and a Post-Doc in Molecular Biology of the cell from Weizmann Institute of Science.

Michal Sapir brings 30+ years of experience in the medical device, pharma and biotechnology industries. She has previously served as Senior Director of Project Management at ColBar LifeScience Ltd., a Johnson & Johnson Company. She actively participated in FDA meetings in order to define regulatory pathways, FDA inspections and ISO Audits. She has broad experience in clinical and animal studies; and had formerly served as Affiliate Quality Coordinator & Senior Clinical Research Administrator in Eli Lilly (1995-2000). Michal Holds a Master of Science in Biochemistry.

Brady brings to the advisory board 30 years of experience as an integrative and nutritional medicine practitioner and over 25 years in health sciences academia. He is a licensed naturopathic medical physician in Connecticut and Vermont, is board certified in functional medicine and clinical nutrition, and is a fellow of the American College of Nutrition. Dr. Brady has been the Chief Medical Officer of Designs for Health, Inc. and also currently serves as the Chief Medical Officer for Diagnostic Solutions Labs, LLC. He was the long-time Vice President for health sciences and Director of the Human Nutrition Institute and continues to serve as an associate professor of clinical sciences, at the University of Bridgeport in Connecticut. He has published multiple peer-reviewed scientific papers and textbooks related to chronic pain, autoimmunity, and functional gastroenterology. Furthermore. Dr. Brady appeared on the plenary speaking panels of some of the largest and most prestigious conferences in the field including; IFM, ACAM, A4M, ACN, IHS, AANP, AIHM, and many more.

Mr. Tsur is the co-founder of Kamada Ltd, a public company listed on both the NASDAQ and Tel-Aviv Stock Exchange. He served as its Chief Executive Officer and on its Board of directors since the Company’s inception in 1990. He currently serves as Deputy Chairman of the Board.

He also serves as the Chairman of Kanabo Group Plc, a company listed on the London Stock Exchange, which focuses on distributing Cannabis-derived products for medical patients and non-THC products for CBD consumers.

Steven currently sits on the Board of Directors of two life science companies, one not for profit, and is a member of the University of Maryland's Bioengineering Department Advisory Board. He provides strategy and implementation advice to several organizations on various topics from commercial efforts through operations, business development, product development, portfolio planning to the establishment of international operations. Previously Steve was Head of Biologicals at Cipla Ltd., CEO of Cipla BioTec, President of Glycominds Ltd, EVP of Adamas Pharmaceuticals Inc., CEO of GeneOs Ltd, CEO at DNA Sciences, and was a division President of Monsanto. Steven also worked with McKinsey & Co., and Proctor & Gamble Corporation.

Hadfield brings 40 years of scientific experience to the Canadian-Israeli biotech firm, which has developed and patented a plant bio-cell technology, called BioFarming, capable of growing the active and beneficial plant based ingredients at industrial scale, without the need to grow the plant itself.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with BioHarvest Sciences Inc. and seek advice from a qualified investment advisor.

Move confirms the Company's commitment to bring to market scientific and clinically based therapeutic solutions derived from plants and sets the path for the development of next generation therapeutic solutions including botanical drugs.

BioHarvest Sciences Inc. (CSE: BHSC) ("BioHarvest" or the "Company") has hired Dr. Brian S. Cornblatt as its Chief Medical Officer, marking a significant milestone in the Company's route for the development of next generation therapeutic solutions including botanical drugs.

Dr. Cornblatt has served as Director of Consumer Clinical Research and Science and as Medical Director at Nutramax Laboratories Consumer Care, Inc. In this role Dr. Cornblatt developed novel nutraceutical formulations, designed both in vitro and clinical studies in support of products, and summarized both supporting laboratory and clinical research for healthcare workers and consumers. His most recent development has been a novel line of products (and 18 related clinical trials) which deliver the essential ingredients needed to support the production of sulforaphane, a phytochemical with many emerging indications. Dr. Cornblatt is also the inventor of three issued patents and four pending provisional patents focused on plant-based bioactive compounds and health promotion.

Prior to moving to Nutramax Laboratories in 2010, Dr. Cornblatt was the Scientific Director and Developer of the Catholic Health Initiatives' (CHI) Center for Translational Research (CTR), a combined molecular research laboratory, national biorepository, and diagnostics laboratory. The CTR supported research initiatives throughout CHI's forty Oncology centers.

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Dr. Cornblatt is a Johns Hopkins University School of Medicine Graduate with a Ph.D. in Pharmacology and Molecular Sciences and a postdoctoral fellowship from the Johns Hopkins Bloomberg School of Public Health, Environmental Health Sciences Division of Toxicology.

"We are delighted to welcome Dr. Cornblatt to the leadership team at BioHarvest at a time of transition and growth for us," said BioHarvest CEO Ilan Sobel. "He will help us lead the charge as we take steps to actively expand our line up of clinically based nutraceutical products and move into medicinal prescription products with our polyphenol-based products and Cannabis product line up."

Dr. Cornblatt said "I am excited about the opportunities that BioHarvest has in the medicinal space based on the CELLicitation™ technology. Some of the existing products can already form a potential for future botanical drugs and I am looking at expanding the indications for which unique products like VINIA® can be used. I look forward to working with the capable R&D team to bring to the world unique, clinically based therapeutic solutions."

BioHarvest is seeking to receive authorization in Israel to produce Cannabis for commercial purposes and is also looking to expand production facilities to North America. BioHarvest recently announced that it has produced a meaningful amount (10 kilograms) of full-spectrum Cannabis biomass at a commercial scale without growing the plant itself. (For full illustration, Watch this video or visit https://bioharvest.com. It is the first time that any group - in either industry or academia - has successfully produced meaningful quantities of full-spectrum Cannabis biomass without growing the plant itself. The Cannabis biomass is not genetically modified and was produced using the Company's proprietary BioFarming technology platform, which grows plant cells in their natural structure in proprietary bioreactors. The company has also recently (May 12) unveiled the profile of its unique Cannabis composition. It contains major and minor cannabinoids as well as terpenes.

BioHarvest has a market capitalization of approximately CAD$131M and has raised over CAD$ 58M to date. The Company holds unique patented technology that allows it to produce a unique grade of full spectrum, consistent, and clean Cannabis biomass in industrial-scale bioreactors with manufacturing costs which are significantly below industry benchmarks. Its offering will consist of multiple unique Cannabis compositions selected based on specific indications and B2B customer requirements.

Ilan Sobel, Chief Executive Officer

For further information, please contact: Investor Relations Phone: 778.686.3855 Email: info@bioharvest.com

Information set forth in this news release might include forward-looking statements that are based on management's current estimates, beliefs, intentions, and expectations, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. There is no assurance that the Company will be successful in expanding its technology to broader medical applications or conduct clinical trials to validate the efficacy of the Company's products for new forms of medical treatments. There is no assurance that the ability to produce a commercial sized biomass will result in the Company entering into commercial production of Cannabis. Clinical trials are subject to risks of significant cost overruns and lengthy delays with no assurance they will confirm desired results. Even where desired results are obtained government approvals for treatments take considerable time and cannot be guaranteed. There is no assurance that we will achieve our objective of being a leading supplier of Cannabis. Delays and cost overruns may result in delays achieving our objectives. Obtaining market acceptance and regulatory approvals for geographic expansion is subject to risk and cannot be guaranteed. Projected sales of Cannabis will require the company to obtain production and / or export licensing which cannot be assured. There is no assurance the company will successfully expand its lineup of nutraceutical products or move into medical prescription products. Successful completion of these objectives will require additional financing, successful marketing initiatives, and certifications which are subject to uncertainty. In addition, prescription drug products require clinical trials which may be lengthy and expensive and have uncertain results. There is no assurance that the company will be approved for commercial Cannabis production in Israel or elsewhere. Obtaining such approvals is subject to many risks and uncertainties, in addition to the need for financing, including potential delays, unexpected changes in requirements and unexpected failure to meet requirements.

All forward-looking statements are inherently uncertain, and actual results may be affected by a number of material factors beyond our control. Readers should not place undue reliance on forward-looking statements. BHSC does not intend to update forward-looking statement disclosures other than through our regular management discussion and analysis disclosures.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/125931

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BioHarvest Sciences Inc. the (CSE: BHSC) ("BioHarvest" or the "company") today unveiled the composition profile of its full-spectrum Cannabis produced in large-scale industrial bioreactors based on its proprietary Bio-Plant CELLicitation™ platform technology.

On December 8th, 2021, BHSC became the first company ever to announce that it could produce Cannabis biomass without growing the plant itself. The revealing of the unique composition profile of its first product comes as BioHarvest gears up for potential Cannabis commercialization - optimizing the manufacturing process, perfecting measurement techniques, transitioning the 2-ton/year facility to Cannabis and applying for the necessary regulatory approvals.

Reliable testing and measurements demonstrate that the composition profile includes the Cannabinoids THC, CBD, CBG, THCV, CBDV and CBC, as well as the Terpenes Beta-caryophyllene, Beta-panasinsene and Selina. While other minor Cannabinoids are present, their identity determination requires further work on the measurement techniques as the current conventional ones are not advanced enough to deal with such a distinctive Cannabinoids profile. The profile and ratio between the various Cannabinoids found in BioHarvest's product is unique and sets a path for both potential patentability and applicability to address medical indications such as ADHD, pain management and anxiety. For further protection of BioHarvest's IP and to secure patentability, more quantitative information about the profile will be revealed before September 15th, 2022. In the interim, the company confirms with certainty the significance of THC, CBD and CBG quantities inside the unique Cannabis composition.

"These achievements are remarkable and demonstrate the ability to produce unique and consistent Cannabis compositions that would have been impossible using conventional agriculture," said Prof. Zohar Kerem, Head of the Food Chemistry Labs of the Robert H. Smith Faculty of Agriculture, Food and Environment of the Hebrew University of Jerusalem. "I have been closely watching the application of BioHarvest's Bio-Plant CELLicitation™ technology to Cannabis, and I am confident that advanced analysis techniques will become available soon to further unveil the Cannabinoids richness of the unique BioHarvest's compositions."

One of the special characteristics of this Cannabis product is that it is made of trichomes representing 93% of the biomass. Trichomes are the plant's natural "mini-factories" that produce the active Cannabis ingredients (Cannabinoids, terpenes and other phytochemicals). Unlike conventional Cannabis products where a significant part of the biomass includes other parts of the flower which have a bitter taste, BioHarvest's product is primarily composed of trichomes. This significant reduction of bitterness renders the product easier to integrate in food and beverage applications.

Moreover, the unique conformation of our trichomes (amalgamated in a coral shape structure) may provide for enhanced solubility and bio-availability of the product. This would allow administration of lower doses to achieve the same desired effects, which would otherwise require a higher quantity in the case of conventionally cultivated Cannabis products.

"Our consistent, clean and efficacious Cannabis, produced with the highest ESG credentials and capital efficiency, has received a significant boost with the latest conclusive composition profile information," said CEO Ilan Sobel. "This rich full-spectrum combination of Cannabinoids and Terpenes with unique ratios is very promising for addressing medical conditions otherwise treated by synthetic drugs with significant negative side effects. The reduced bitterness taste and the potential improved solubility of our products amount to a game-changer for integration of full-spectrum Cannabis into the food & beverage industry."

BioHarvest plans to bring its first Cannabis products to market in 2022 and will be converting the current VINIA® 2-tons/year facility in Rehovot, Israel to produce Cannabis. This is happening as a result of the transition of all VINIA ® manufacturing to the new 20-ton/year facility in Yavneh, Israel.

BioHarvest Sciences Inc. Ilan Sobel, Chief Executive Officer

For further information, please contact: Dave Ryan, VP Investor Relations & Director Phone: 1 (604) 622-1186 Email: dave@bioharvest.com

Information set forth in this news release might include forward-looking statements that are based on management's current estimates, beliefs, intentions, and expectations, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. There is no assurance that we will achieve our objective of making our products available in multiple markets. There is no assurance that the Company will be successful in expanding its technology to broader medical applications or conduct clinical trials to validate the efficacy of the Company's products for new forms of medical treatments. Clinical trials are subject to risks of significant cost overruns and lengthy delays with no assurance they will confirm desired results. Even where desired results are obtained government approvals for treatments take considerable time and cannot be guaranteed. There is no assurance the BioFarming technology will make a significant impact on multiple verticals of life -science based businesses in general or in the bio-space industry. There is no assurance that we will achieve our objective of being a leading supplier of Cannabis. Delays and cost overruns may result in delays achieving our objectives obtaining market acceptance and regulatory approvals for geographic expansion is subject to risk and cannot be guaranteed. Projected sales of Cannabis will require the company to obtain production and / or export licensing which cannot be assured. There is no assurance of patentability of the Company's products. Obtaining patents is a lengthy process subject to many uncertainties. The ability of the Company's product to address medical indications in a manner different from other Cannabis products can only be determined after the process of clinical trials, the outcome of which cannot be assured.

In particular there is no assurance the company will obtain a production license or bring its first Cannabis products to market in 2022.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123755

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BioHarvest Sciences Inc. (CSE: BHSC) (OTC:CNVCF) (FSE: 8MV) ("BioHarvest" or the "Company") announced today a financing plan based on a private placement of up to USD $5 Million (approximately $6.3 Million CAD). The funds raised will allow the Company to accelerate the growth plan for its polyphenolsantioxidants and Cannabis verticals.

On March 23, 2021, BHSC announced the completion of the Company's Cannabis R&D program, marking the start of the proposed transition to commercial scale manufacturing. BioHarvest plans to bring its first Cannabis products to market in 2022 and will be converting the current VINIA® 2 tons/year facility in Rehovot, Israel to produce Cannabis. This is happening in conjunction with the transition of all VINIA ® manufacturing to the new 20 tons/year facility in Yavneh, Israel, which will provide the required VINIA ® production capacity to scale VINIA® sales in the US. The transition to Cannabis manufacturing in Israel, combined with the planned incremental marketing spend for VINIA® in the USA, requires additional financing which the Company will seek to raise by issuing up to $5 Million USD of Convertible Notes (the "Notes").

The Notes which will be denominated in Canadian Dollars, will have a term of 24 months, and pay interest of 6% per annum. The Notes will be convertible as to principal and accrued interest , at the option of the holder, at any time following one year from their issuance (the " Anniversary Date') into common shares of the company at a price equal to the closing market price of the Company's common shares on the date of conversion (the "(Closing Price" ) less a discount of 25% if the closing price is $0.50 per share or less and 20% if the closing price is above $0.51 but in any event not less than $0.26 per share (the "Floor Price") and not higher than a ceiling price (the "Ceiling Price") equal to $0.65 if converted within 90 days of the Anniversary Date, $0.75 if converted between 91 and 180 days of the Anniversary Date, $0.85 if converted between 181 and 270 days of the Anniversary Date and $0.95 thereafter.

The Company will have the Option on 30 days notice to redeem all or any part of the Notes for the principal amount outstanding plus accrued interest at any time if either of the following conditions are met:

a) The common shares of the company are listed on a more senior Stock Exchange (the Toronto Stock Exchange, Nasdaq Capital or Global Markets or any market of the New York Stock Exchange.)

b) the Company completes debt or equity financings for gross proceeds in excess of $10 Million USD following the issuance of the Notes.

In the event that the Company issues a Notice of Redemption prior to the Anniversary Date the amount of principal redeemed, and accrued interest on it, will be immediately convertible at the option of the holder.

The company may pay customary commissions or other sales incentives to registered brokers or investment dealers or finders (where permitted by law).

Beside ongoing and customary liabilities to suppliers and employees, currently the Company has no outstanding debt.

Ilan Sobel, CEO, states "Our unprecedented achievements to date in the development and commercialization of our proprietary platform technology presents an opportunity for investors to enjoy the expected success of the Company as it scales its operations for both business verticals. Our leadership in plant cellular biology, our wealth of IP and our operational performance convince us that the current share price of BHSC, which has also been impacted by geopolitical uncertainties, undervalues the Company. By opting for a convertible loan instrument with conversion deferred for one year we avoid dilution at current share price. This USD $5 Million financing gives us the required marketing resources to accelerate the building of ourVINIA® revenue and customer base as well as provide the capital needed to commence Cannabis production in Israel in H2, both of which are major 2022 priorities which will significantly increase the enterprise value."

BioHarvest invites all interested investors and media to our next Shareholders Update, to be held at 11 am PDT, April 7th, 2022. The online meeting will be hosted by CEO Ilan Sobel and will feature a live Q&A session. Free registration to the event is available here: https://app.livestorm.co/st-financial/q1-2022-bioharvest-sciences-shareholder-update?type=detailed.

This news release is provided for information purposes only and it is not an offer for sale or solicitation of an offer to purchase securities of the Company in any United States jurisdiction or any other jurisdiction where prohibited by law. The company's proposed private placement will only be available to qualified investors.

BioHarvest Sciences Inc. Ilan Sobel, Chief Executive Officer

For further information, please contact: Dave Ryan, VP Investor Relations & Director Phone: 1 (604) 622-1186 Email: dave@bioharvest.com

Information set forth in this news release might include forward-looking statements that are based on management's current estimates, beliefs, intentions, and expectations, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. There is no assurance that we will achieve our objective of making our products available in multiple markets. There is no assurance that the Company will be successful in expanding its technology to broader medical applications or conduct clinical trials to validate the efficacy of the Company's products for new forms of medical treatments. Clinical trials are subject to risks of significant cost overruns and lengthy delays with no assurance they will confirm desired results. Even where desired results are obtained government approvals for treatments take considerable time and cannot be guaranteed. There is no assurance the BioFarming technology will make a significant impact on multiple verticals of life -science based businesses in general or in the bio-space industry. There is no assurance that we will achieve our objective of being a leading supplier of Cannabis. Delays and cost overruns may result in delays achieving our objectives obtaining market acceptance and regulatory approvals for geographic expansion is subject to risk and cannot be guaranteed. Projected sales of Cannabis will require the company to obtain production and / or export licensing which cannot be assured.

In particular there is no assurance the company will obtain a production license or bring its first Cannabis products to market in 2022 or be successful in completing the proposed or subsequent financing or its common shares be listed on a more senior stock exchange.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/119622

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BioHarvest Sciences Inc. (CSE: BHSC) (OTC PINK: CNVCF) (FSE:8MV) ("BioHarvest" or "the Company") today announced Q1 2022 sales of its flagship VINIA® product reached USD 787k, representing 112% growth compared to the same quarter of last year.

BioHarvest also had a strong quarter in R&D execution, highlighted by a March 23 declaration of successful completion of its Cannabis R&D program with production of Cannabis biomass in large-scale industrial bioreactors - signaling the start of commercialization of the Cannabis product. BioHarvest is in the process of transitioning the current R&D license to a production license ahead of launching a unique Cannabis composition into the market in H2 2022.

"I am very proud of our Q1 results, which demonstrate another dimension of our capabilities," said CEO Ilan Sobel. "BioHarvest continues to validate its leadership in plant-based bio-technology."

The company managed the total VINIA sales orders in line with production constraints of its existing 2 ton/year facility and accordingly chose to reduce marketing spend in the US in order to avoid out-of-stock occurrences and customer dissatisfaction. The production capacity constraints are being alleviated by a fast transition to a new 20 ton/year facility - a transition which started successfully in March and will positively impact the H2 2022 scale-up of VINIA production and sales. BioHarvest is therefore reiterating its 2022 sales orders guidance of USD 5M -7M representing a 2.5-3.5X growth over 2021.

The careful management of the VINIA® inventory in the US resulted in Q1 sales order in the US (where pilot sales began in May 2021) reaching USD 335k (representing 2% growth over Q4 2021). The Israeli market delivered USD 452k (22% growth over Q1 2021 and a 10% decline from Q4 2022). Sales in Israel were heavily impacted in Q1 by an extraordinary outbreak of the Covid-19 pandemic in January and February, when approximately 25% of the population contracted the virus. March sales in Israel have significantly recovered and April sales so far support BioHarvest's growth trajectories and are in line with the provided guidance.

In early Q3 2022, BioHarvest expects VINIA ® inventory to reach levels that enable significant scaling of the business. US sales metrics in Q1 2022 continue to be very encouraging: VINIA ® has achieved a best-in class verified customer rating of 4.8 out of 5, demonstrating a high level of customer satisfaction, and subscription revenue in Q1 2022 increased 40% compared to Q4 2021.

The second half of the year marketing plan includes the addition of influencer endorsements, customer referral programs and affiliate programs as well as a focused approach addressing key lucrative market segments such as the Christian evangelical market.

"We were able to manage our sales growth despite inventory constraints and keep our overall customer satisfaction intact, and we enjoy fantastic growth prospects given the commencement of manufacturing at our new VINIA production facility," Sobel said. "I am equally excited by the completion of the Cannabis development program and the highly differentiated composition which we will be bringing to the market in H2 2022."

BioHarvest Sciences Inc. Ilan Sobel, Chief Executive Officer

For further information, please contact: Dave Ryan, VP Investor Relations & Director Phone: 1 (604) 622-1186 Email: dave@bioharvest.com

Information set forth in this news release includes forward-looking statements that are based on management's current estimates, beliefs, intentions, and expectations, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. There is no assurance that strong sales metrics experienced to date will result in future demand or that proposed additional marketing expenditures will result in increased sales. Markets for nutraceuticals are unpredictable and subject to changes in consumer tastes and trends as well as economic factors beyond our control. Delays and cost overruns may result in delays achieving our objectives obtaining market acceptance, and regulatory approvals for geographic expansion is subject to risk and cannot be guaranteed. There is no assurance that the Company sales revenue for 2022 will reach USD 5 to 7 million and there is no assurance that the Company cash flow breaking point will be achieved in 2023. There is no assurance of commercial availability of our Cannabis product in 2022 or that the Company achieves the conversion of the two tons VINIA® facility to Cannabis production in 2022. These things are subject to construction and approval delays and uncertainties that may be beyond the control of BioHarvest. Projected sales of Cannabis will require the Company to obtain production and/or export licensing which cannot be assured.

Readers are cautioned that sales growth and revenue alone do not give an accurate picture of the financial position of the Company and should be read in the context of the Company's annual and quarterly financial statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/119445

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BioHarvest Sciences Inc. (CSE: BHSC) ("BioHarvest" or the "Company") today announced that it has produced Cannabis Biomass in large scale industrial bioreactors, which represents the completion of the Company's Cannabis R&D program.

On December 8th, 2021, BHSC became the first company ever to announce that it could produce Cannabis biomass without growing the plant itself. Building on that breakthrough, the Company has made significant progress, and has now produced Cannabis in large scale industrial bioreactors, marking the start of the transition to commercial scale manufacturing. To that end, the Company has commenced the process to obtain a production license in Israel for its Cannabis products to complement the R&D license it has used to date for the Cannabis development program.

Dr. Yochi Hagay, CTO, said "I am elated and proud of this achievement. The R&D team has relentlessly pursued this moment, which marks a new era for the Cannabis industry. Our proprietary and unique amalgamated trichome structure has proven resistant to shear forces applied during the cell growth process in liquid media and it will demonstrate more advantages when it comes to the medicinal application of our products. I have never doubted our ability to use our CELLicitation technology to produce Cannabis without the need to grow the plant itself and we have broken biological barriers to grow high performance trichomes in liquid suspension. We are now ready to bring our first unique Cannabis compositions to the world. We will of course continue to invest in Cannabis R&D to add more Cannabis products to the portfolio, appreciate the IP assets and drive even further manufacturing efficiencies."

BioHarvest plans to bring its first Cannabis products to market in 2022 and will be converting the current VINIA® 2 tons/year facility in Rehovot, Israel to produce Cannabis. This is happening in conjunction with the transition of all VINIA ® manufacturing to the new 20 tons/year facility in Yavneh, Israel, which will support the scaling of successful sales of VINIA® in the US and beyond.

Ilan Sobel, CEO, states "Our unprecedented achievements present a great opportunity for the Cannabis industry. Consistent, clean, and efficacious Cannabis that is produced with the highest ESG credentials and capital efficiency with significantly lower manufacturing costs is the revolution this industry needs to gain further market traction and trust by the regulators worldwide. Our CELLicitation platform technology is a true market disruptor, cementing BioHarvest's position as a leader in plant cellular biology. With the completion of the initial Cannabis R&D program, more focus can now be applied towards achieving the desired scale for our two business verticals, Polyphenols/Antioxidants and Cannabis."

BioHarvest Sciences Inc. Ilan Sobel, Chief Executive Officer

For further information, please contact: Dave Ryan, VP Investor Relations & Director Phone: 1 (604) 622-1186 Email: dave@bioharvest.com

Information set forth in this news release might include forward-looking statements that are based on management's current estimates, beliefs, intentions, and expectations, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. There is no assurance that we will achieve our objective of making our products available in multiple markets. There is no assurance that the Company will be successful in expanding its technology to broader medical applications or conduct clinical trials to validate the efficacy of the Company's products for new forms of medical treatments. Clinical trials are subject to risks of significant cost overruns and lengthy delays with no assurance they will confirm desired results. Even where desired results are obtained government approvals for treatments take considerable time and cannot be guaranteed. There is no assurance the BioFarming technology will make a significant impact on multiple verticals of life -science based businesses in general or in the bio-space industry. There is no assurance that we will achieve our objective of being a leading supplier of Cannabis. Delays and cost overruns may result in delays achieving our objectives obtaining market acceptance and regulatory approvals for geographic expansion is subject to risk and cannot be guaranteed. Projected sales of Cannabis will require the company to obtain production and / or export licensing which cannot be assured.

In particular there is no assurance the company will obtain a production license or bring its first Cannabis products to market in 2022.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/117749

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Amgen (NASDAQ:AMGN) will present at the Goldman Sachs 43 rd Annual Healthcare Conference at 1:40 p.m. ET on Wednesday June 15, 2022. David M. Reese M.D., executive vice president of Research and Development and Peter H. Griffith executive vice president and chief financial officer at Amgen will present at the conference. The webcast will be broadcast over the internet simultaneously and will be available to members of the news media, investors and the general public.

The webcast, as with other selected presentations regarding developments in Amgen's business given by management at certain investor and medical conferences, can be found on Amgen's website, www.amgen.com , under Investors. Information regarding presentation times, webcast availability and webcast links are noted on Amgen's Investor Relations Events Calendar. The webcast will be archived and available for replay for at least 90 days after the event.

Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.

Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.

Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average and is also part of the Nasdaq-100 index. In 2021, Amgen was named one of the 25 World's Best Workplaces™ by Fortune and Great Place to Work™ and one of the 100 most sustainable companies in the world by Barron's.

For more information, visit www.amgen.com and follow us on www.twitter.com/amgen .

CONTACT: Amgen, Thousand Oaks Megan Fox , 805-447-1423 (media) Jessica Akopyan , 805-447-0974 (media) Arvind Sood , 805-447-1060 (investors)

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Boosh Plant-Based Brands Inc. (CSE: VEGI) (OTCQB: VGGIF) (FSE: 77I) ("Boosh" or the "Company") a premier plant-based brands company in the in-health food sector, is excited to announce the filing of a business acquisition report ("BAR") on the Company's SEDAR profile (www.sedar.com) in relation to its previously completed acquisition of the business of Beanfields, Inc. that occurred on February 16, 2022. Beautiful Beanfields Inc is now officially in our family of Brands.

The BAR includes audited carve out financial statements for the business of Beanfields for the year ended December 31, 2021 with unaudited comparative for the year ended December 30, 2020. The financial statements are prepared in accordance with International Financial Reporting Standards.

Beanfields produces and sells a healthy, gluten-free, non-GMO, vegan, top eight allergen-free flavored bean-based chip. The portfolio includes a broad offering of nine flavors, including Black Bean, Sour Cream and Onion, Fiery Hot and Nacho flavors. They have capitalized on the industry trends of 'Better For You' in the salty snack category. Beanfields received the 2019 "Rising Star Award" from NOSH (Natural, Organic, Sustainable and Healthy) organization. In June 2021, it introduced its Rings line, which became one of its fastest-selling products. This past December, NOSH recognized Rings as a Best New Product for 2021.

Since we acquired the Beanfields business in February, our team has been increasing production levels to meet high demands from retailers. Our first priority was to purchase large quantities of raw material to prevent supply disruption, increase production to match demand, and reach out to the current customer base - all of which has been successfully orchestrated. We've been able to maintain the vast majority of Beanfields' approximate 7,000 retailers, as we continue to stock shelves to meet customer demand. Beanfields chips are currently sold throughout all 50 states, Canada, and other countries. As can be seen in the audited carve out statements for the year ended December 31, 2021, the Beanfields brand generated Net Revenues of US$8.8M, which consisted of US$11.5M in gross sales, net of US$2.7M in sales discounts and manufacture chargebacks. We expect to continue to push sales momentum and drive further growth within the Company's full product portfolio.

On behalf of the Board of Directors

Connie Marples Founder/CEO connie@booshfood.com Telephone: 778 840 1700 www.Booshfood.com

About Boosh Plant-Based Brands Inc.:

Boosh Plant-Based Brands Inc., through its wholly owned subsidiary, Boosh Food (www.booshfood.com), offers high quality, non-GMO, gluten free, 100% plant-based nutritional comfort foods for the whole family. Through a separate subsidiary, Beautiful Beanfields, the Company owns Beanfields, a plant-based chips brand sold in over 7,000 stores throughout North America. Boosh, good for you and good for planet earth.

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Forward-looking statements in this news release include, but are not limited to, the Company's expectations concerning the revenue growth potential of Beanfields and its ability to generate profits there from. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127176

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Naturally Splendid Enterprises Ltd. ("Naturally Splendid") (TSX-V:NSP) (OTC PINK:NSPDF) (Frankfurt:50N), as previously announced, presented the Plantein™ line of plant-based entrees at the Planted Expo Vancouver on June 4 and June 5, 2022, at the Vancouver Convention Center

Planted Expo is Canada's largest plant-based event of the year, focused on consumers looking to add more plant-based choices to their daily diets. Naturally Splendid presented eight (8) Plantein™ plant-based entrees, including our plant-based; Burger; Crispy Burger; Crumbed Tenders; Sweet Chili Tenders; Nuggets; Schnitzel (cutlet); Garlic Kiev; and a Phishy Fillet.

Although the show is primarily for consumers, several local independent and retail chain stores also had representatives at the Expo. Many of these retail operations have reached out to Naturally Splendid inquiring about listing our products. In addition to the existing leads from the previous Food Expo, the sales team will actively follow up on these inquiries.

Naturally Splendid VP Mr. Bryan Carson states, "As we are actively working our sales efforts on FoodService and Retail nationally, we didn't want to lose sight of creating some local excitement about our products. The Greater Vancouver Region has over 2.5 million consumers, and this Expo is a low-cost way to target the plant-based consumer; as part of the show, we teamed up with Directfoods.com to get our products home-delivered. With everything being local and with Directfoods.com delivery, we reduce our packaging costs significantly. The response from attendees at Planted Expo has been exceptional. The Company has been receiving orders online since the show started on Saturday, and we look for growth opportunities for the business everywhere. We invite you to check out Planted Expo attendee responses for yourselves at https://youtu.be/BJUsq_QDfG8.

About Naturally Splendid Enterprises Ltd.

Naturally Splendid is a plant-based food manufacturing and technology company that produces and distributes nutritious and delicious plant-based commodity products.

Founded in 2010, the Company operates a Safe Quality Food Level 2 certified food manufacturing facility located just outside Vancouver, BC in Canada, focusing on producing an extensive range of plant-based entrees.

Naturally Splendid has an exclusive 10-year manufacturing and distribution agreement for Canada with a division of Australia's largest plant-based food manufacturer, Flexitarian Foods Pty. Ltd.

In addition to producing the Company's own branded products, Naturally Splendid provides contract manufacturing services and private labeling for a variety of nutritional plant-based food products destined for multiple distribution channels.

The Company has established healthy, functional foods under brands such as Natera Sport™, Natera Hemp Foods™, CHII™, Elevate Me™ and Woods Wild Bar™. The Company launched Natera Plant Based Foods, a line of delicious plant-based meat alternatives for the rapidly growing plant-based market segment.

Naturally Splendid maintains a relationship Plasm Pharmaceutical, a company that has been approved for conducting a phase 2 clinical trial approved by Health Canada for the treatment of COVID-19.

NSE has also developed proprietary technologies for the extraction of healthy omega 3 and 6 oils, as well as a protein concentrate from hemp.

For more information e-mail info@naturallysplendid.com or call Investor Relations at 604-570-0902 ext 101

On Behalf of the Board of Directors Mr. J. Craig Goodwin CEO, Director

Contact Information: Naturally Splendid Enterprises Ltd. (NSP - TSX Venture; NSPDF - OTCQB; 50N Frankfurt) #108-19100 Airport Way Pitt Meadows, BC, V3Y 0E2 Office: (604) 570-0902 Fax: (604) 465-1128 E-mail: info@naturallysplendid.com Website: www.naturallysplendid.com

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Naturally Splendid cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Naturally Splendid's control including, Naturally Splendid's ability to compete with large food and beverage companies; sales of any potential products developed will be profitable; sales of shelled hemp seed will continue at existing rates or increase; the ability to complete the sales of all bulk hemp seed purchase orders; and the risk that any of the potential applications may not receive all required regulatory or legal approval. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Naturally Splendid undertakes no obligation to publicly update or revise forward-looking information.

NEITHER 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 RELEASE.

SOURCE: Naturally Splendid Enterprises Ltd.

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ABBVie (NYSE: ABBV) today announced new data from Cohort 3 of its Phase 2 REFINE study of investigational navitoclax in combination with ruxolitinib in JAK inhibitor naïve patients with myelofibrosis (MF), a rare and difficult to treat blood cancer. These preliminary findings show spleen volume and symptomatic improvement in this cohort. These data are consistent with previously observed data from relapsedrefractory patients in Cohort 1a 1 and will be shared in an oral presentation at the 2022 European Hematology Association (EHA) Annual Congress (Abstract #S197). 2

REFINE is a Phase 2 non-randomized open-label multi-cohort study evaluating the safety and efficacy of navitoclax alone or in combination with ruxolitinib in MF.

"Current treatment options for myelofibrosis are limited and targeted toward controlling disease symptoms," said Mohamed Zaki , M.D., Ph.D., vice president and global head of oncology clinical development, AbbVie. "Together with pre-clinical findings, early results of this study demonstrating anti-fibrosis activity of navitoclax in combination with ruxolitinib are promising. Specifically, the data findings regarding reduction in spleen volume, symptoms and bone marrow fibrosis help support the further exploration of disease modification in myelofibrosis."

The results presented at EHA 2022 were from a preliminary analysis of 32 JAK inhibitor naïve MF patients from Cohort 3 of the Phase 2 REFINE trial (NCT03222609). 2 The primary endpoint was spleen volume reduction of ≥35 percent (SVR35) from baseline at week 24. 2 Key secondary endpoints include ≥50 percent reduction in total symptom score (TSS50) at week 24, anemia response and BMF reduction. 2

In the results, SVR35 was achieved by 63 percent of evaluable patients at week 24 (20/32) and by 78 percent at any time on treatment (25/32). 2 At week 24, 41 percent (11/27) of evaluable patients with measurable baseline symptoms reached TSS50; notably, 67 percent of patients (18/27) met this endpoint at any time during the study. 2 In this cohort, 35 percent of evaluable patients, with available fibrosis grade at baseline and during the study, (9/26) achieved reduction in BMF by ≥1 grade at any time during the study with three patients experiencing ≥2 grade reductions in BMF. 2 Additionally, 40 percent of patients evaluable for anemia response (6/15) experienced improvement in anemia, a common clinical feature of MF. 2

Preliminary safety analysis identified no new safety signals. Thirty-one (97 percent) patients reported one or more adverse event (AE). 1 The most common Grade ≥3 AEs were thrombocytopenia (47 percent), anemia (34 percent), and neutropenia (25 percent). 1 Seven patients (22 percent) reported experiencing serious AEs. 1 Three patients (9 percent) experienced an AE leading to navitoclax discontinuation and three patients (9 percent) reported an AE leading to ruxolitinib discontinuation. 2

"These data reinforce the importance of early intervention in myelofibrosis and the potential to achieve improved clinical outcomes," said Francesco Passamonti, Full Professor of Hematology, University of Insubria and Chief, Hematology, Varee Hospital. "These preliminary results show good responses to combination therapy with navitoclax that may continue to improve over time."

About Navitoclax Navitoclax is an investigational, oral BCL-X L /BCL-2 inhibitor. The BCL-2 family of proteins are known regulators of the apoptosis pathway. 3

Navitoclax is not approved by the U.S. Food and Drug Administration (FDA) or any Health Authority worldwide at this time. Its safety and efficacy are under evaluation as part of ongoing Phase 2 and registrational Phase 3 studies.

AbbVie has an extensive late-stage clinical trial program for investigational navitoclax that is currently enrolling. For more information about enrolling in a clinical trial, please visit us here .

About the REFINE Study REFINE is a multi-cohort, Phase 2, randomized, open-label, multicenter study evaluating the tolerability and efficacy of navitoclax alone or when added to ruxolitinib in patients with myelofibrosis (MF). 4 The primary outcome measure is the percentage of patients who achieve Spleen Volume Reduction of greater than or equal to 35 percent (SVR35) from baseline to Week 24. Secondary outcomes measures include percentage of participants achieving 50 percent reduction in Total Symptom Score from baseline to Week 24 and change in grade of bone marrow fibrosis assessed according to the European Consensus Grading System.

Data presented at EHA 2022 include preliminary safety and efficacy results from Cohort 3 of REFINE (n=32). Patients in Cohort 3 had primary or secondary MF with splenomegaly and had not received JAK-2 therapy or BET inhibitors prior to enrollment. Data presented at EHA 2022 are representative of data from Cohort 3 of the REFINE study as of February 7, 2022 .

Data included in the official EHA 2022 Abstract Book are representative of data from Cohort 3 of the REFINE study as of October 4 , 2021.

More information can be found on https://www.clinicaltrials.gov/ (NCT03222609).

About Myelofibrosis Myelofibrosis (MF) is a rare, difficult-to-treat blood cancer that results in excessive scar tissue formation (fibrosis) in the bone marrow. Patients living with MF experience symptoms such as an enlarged spleen, fatigue, weakness, and severe anemia, that are often debilitating and greatly impact quality of life. MF also carries a risk of transformation to more aggressive disease such as acute myeloid leukemia. 4

About AbbVie in Oncology At AbbVie, we are committed to transforming standards of care for multiple blood cancers while advancing a dynamic pipeline of investigational therapies across a range of cancer types. Our dedicated and experienced team joins forces with innovative partners to accelerate the delivery of potentially breakthrough medicines. We are evaluating more than 20 investigational medicines in over 300 clinical trials across some of the world's most widespread and debilitating cancers. As we work to have a remarkable impact on people's lives, we are committed to exploring solutions to help patients obtain access to our cancer medicines. For more information, please visit http://www.abbvie.com/oncology .

About AbbVie AbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women's health and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com . Follow @abbvie on Twitter , Facebook , Instagram , YouTube and LinkedIn .

Forward-Looking Statements Some statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions, among others, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, failure to realize the expected benefits from AbbVie's acquisition of Allergan plc ("Allergan"), failure to promptly and effectively integrate Allergan's businesses, competition from other products, challenges to intellectual property, difficulties inherent in the research and development process, adverse litigation or government action, changes to laws and regulations applicable to our industry and the impact of public health outbreaks, epidemics or pandemics, such as COVID-19. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2021 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, as updated by its subsequent Quarterly Reports on Form 10-Q. AbbVie undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.

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The plant-based meat market is expected to grow at an impressive CAGR of 25.14 percent as consumers seek more plant-based options. The segment has the potential to grow by US$7.21 billion from 2015 to 2021. In 2019 alone, the plant-based meat market was valued at a significant US$3.77 billion. The high growth rate of this segment of the plant-based market presents an exciting opportunity for investors seeking to grow their capital.

A key geographic market in the plant-based category is North America, and Canada is a global leader in plant protein. The Government of Canada recently invested C$153 million into the Protein Industries SuperCluster, which seeks to increase the value of key Canadian crops such as canola, wheat and pulses. A significant opportunity for these crops revolves around the growing plant-based meat alternatives markets in North America, with further export opportunities in Asia and Europe. The Canadian government expects the investment to generate more than C$4.5 billion in GDP over the next 10 years.

Naturally Splendid Enterprises (TSXV:NSP,OTCQB:NSPDF,FSE:50N) is a Canadian-based company focused on manufacturing delicious plant-based products. Their feature plant-based line is marketed under the PlanteinTM trademark. This line is manufactured under a 10-year exclusive manufacturing and distribution agreement with Flexitarian Foods Pty. Ltd., a division of Australia’s largest plant-based manufacturer.

As a result of this agreement, Naturally Splendid offers the most extensive plant-based meat alternative choices than any other plant protein company in North America, including Beyond Meat (NASDAQ: BYND), Gardein (owned by Conagra NASDAQ: CAG) and Impossible Meat.

Over the years, Naturally Splendid has developed a number of retail brands covering various consumer channels that have been sold in thousands of retail locations across Canada and online. The Company’s feature plant-based line boasts a number of appetizers and entrees prepared for those looking to add more plant-based nutrition into their diets, whether they be vegans, vegetarians or the rapidly growing ‘flexitarian consumer.’

ProSnack Natural Foods, a 100% owned division of Naturally Splendid, manufactures plant-based appetizers and entrees in their 17,000 square foot Safe Quality Food (SQF) Certified food manufacturing facility located in Pitt Meadows, British Columbia in, Canada. The facility is capable of manufacturing a wide range of plant-based appetizers and entrees. While upgrading the Prosnack facility, the SQF Certification is temporarily on hold at the request of Company. SQF pre-certification inspection is expected in October 2022 with full certification expected Q2 2023. Previously the Company scored an 89/100 during their SQF certification process, indicating a high aptitude for manufacturing processes.

The facility is currently undergoing renovations to replicate the established, successful manufacturing processes that have made Plantein among Australia’s most popular plant-based entrees. Once completed in the latter part of 2022, the facility will have the capacity to produce 30 tons of plant-based products daily, or in dollar values, will have a manufacturing capacity of $45,000,000 CDN annually.

In addition to Naturally Splendid’s house brand, ‘Plantein,’ ProSnack will manufacture under Private Label agreements and manufacture for strategically selected companies, producing their proprietor formulations for plant-based products.

Flexitarian Foods has developed industry-disrupting IP in both product R&D as well as manufacturing. Rather than develop a ‘recipe’ for a single product, as most every other plant-based manufacturer does, Flexitarian Foods has perfected a system based on their IP for rapid product development. Flexitarian Food’s IP extends to manufacturing, and its success lies in using standardized equipment rather than custom manufactured equipment to process their plant-based foods.

The IP regarding product formulation creates the landscape to develop new plant-based SKUs in industry-leading time frames…typically 6-10 weeks for initial concept samples to be developed.

IP related to manufacturing provides a competitive pricing advantage due to the efficiency of the Company’s manufacturing processes. Flexitarian Food’s methodology based on their IP allows for rapid expansion to manufacturing capacity as capacity can be increased simply by adding additional equipment. This strategy lends itself to the opportunity to build multiple manufacturing facilities close to input sources and consumer bases, creating competitive advantages.

Initially, Naturally Splendid marketed its plant-based products under its Natera brand. The Company has since negotiated a 10-year licensing agreement to use the Plantein name in Canada. The licensing agreement has a 10-year extension, making this a 20-year agreement.

In August 2021, the company announced an exciting milestone in which NATERA’s plant-based chicken tenders and plant-based chicken nuggets will soon be available at 71 Denny’s Corporation (NASDAQ:DENN) restaurant locations across Canada. These items are currently being served in all Canadian Denny’s locations.

The Company has established relationships with Canada’s two largest food distributors, who in combination hold an estimated 85% market share.

Gordon Food Service (GFS) – Services Denny’s Canada account as well as others

Naturally Splendid’s initial foray into plant-based nutrition began over a decade ago and focused on hemp and the incredible nutritional profile the plant provided. The Company’s journey has included significant technological advances in hemp protein and the omegas contained in hemp, resulting in unique ingredients that may be incorporated into plant-based product formulations. Naturally Splendid is the owner of Chii Pure Hemp, an online store selling hemp seed and protein and manufactures nutritional bars and bites in their certified food manufacturing facility. This facility is now being retrofitted to manufacture a diverse range of plant-based appetizers and entrees. The Company’s previous technological advances in the area of micro-encapsulation of omegas and concentrating of plant proteins, has provided an opportunity to use these value-added ingredients in their own plant-based products. Additionally, these value-added ingredients have the potential to be marketed to other plant-based manufacturers creating new revenue stream. The opportunity within the plant-based market space has created new opportunities for these Company owned technologies and ingredients.

In addition to the Company’s plant-based appetizer and entree business, Naturally Splendid’s other plant-based brands include CHII, ElevateMe, NATERA Sport, and Pawsitive FX. CHII is one of Canada’s oldest hemp companies, established in 2019. The brand offers hemp seeds, oils, and proteins sold primarily online. Elevate Me, and Woods Wild Bars are the company’s bars offerings. These products are currently going through re-formulation to offer 100% plant-based nutrition. Pawsitive FX is the company’s foray into topical pet products, which feature 100% plant-based formulations.

ProSnack Natural Foods operates a 17,000 square foot Safe Quality Food (SQF) Certified Food Manufacturing facility in Pitt Meadows, British Columbia, Canada.

ProSnack Natural Foods facility is undergoing retrofitting and will manufacture the Plantein line of plant-based products upon commissioning. Upon retrofit completion, the facility will be capable of producing 30 tons of plant-based products per day, resulting in a manufacturing capacity in dollars of an estimated $40M CDN annually.

Additionally, and as importantly, Prosnack Natural Foods offers contract manufacturing for various clients, including private label programs.

Prior to retrofitting to manufacture plant-based entrees, Prosnack manufactured nutritional bars and bites for themselves under multiple ‘house brands’ and several well-known brands.

Naturally Splendid has secured the rights to use the Plantein name in Canada exclusively for an initial 10-year term with a 10-year renewal option.

Plantein originated in Australia and is manufactured by a division of the largest plant-based manufacturer in Australia.

The PlanteinTM line of plant-based foods includes alternatives for beef, chicken, pork, fish and seafood. The Company has over 40 commercially ready plant-based entrees and has launched eight (8) SKUs initially in foodservice and retail in Canada.

The eight (8) products available today are 100% vegan and include a plant-based Burger, Crispy Burger, Crumbed Tenders, Sweet Chili Tenders, Nuggets, Schnitzel, Garlic Kiev and Phishy Fillet.

Naturally Splendid has developed and owns several brands covering multiple categories, including CHII Pure Hemp, Elevate Me, Woods Wild Bar, NATERA Sport and Pawsitive FX focusing on plant-based ingredients.

CHII is one of Canada’s pioneering hemp companies, established in 1998. The brand offers hemp hearts, hemp oil and hemp seed protein through an online e-commerce platform. Chii hemp foods include hemp seed hearts, hemp protein powder and hemp seed oil.

The Company has developed, manufactured and distributed several nutritional bars and bites, including Elevate Me, Woods Wild Bar and KEY-TO-LIFE.

NATERA Sport also recently launched Procurc 30, an advanced curcumin-based supplement that Health Canada approved for phase two clinical trial as a potential treatment for Covid-19.

Pawsitive FX consists of three (3) all-natural balms for snout and paw health; Happy Paws, Strong Paws, Happy Snouts.Pawsitive FX as well as offers raw hemp oil for canine nutrition!

J. Craig Goodwin is a co-founder of Naturally Splendid. As CEO, Goodwin has been instrumental in the transition from a private company to a public company raising over CA$20,000,000 in the process. In addition to his role as CEO, Goodwin’s responsibilities included international business development where he oversaw the development of a South Korean project generating over C$7,000,000 in 2016.

Currently, Goodwin is developing business in South Korea, Japan, China, Germany and Australia to name a few. Previous to his appointment as CEO of Naturally Splendid, Goodwin accumulated over 30 years of sales and marketing experience including senior account executive for one of the largest outdoor advertising companies in the world, The Jim Pattison Sign Group. While with The Jim Pattison Sign Group, Craig was one of the most successful sales executives in Western Canada and received numerous awards for outstanding sales achievements.

In addition to sales and marketing, Goodwin has consulted for numerous public companies providing services including investor relations, raising venture capital and business development.

Bryan Carson’s vision of a company distributing healthy food choices is a driving force behind Naturally Splendid® and the foundations from which this company originated. For the past four years, Carson has overseen the operations of Naturally Splendid® including establishing supply channels, packaging and product development. Carson’s insight and vision have proved invaluable as part of the management team.

Carson created, operated and sold a successful retail store in Vancouver, B.C. His hands-on retail expertise from the conceptual planning stages through construction and launch is of great value in developing our relationship with major food distribution channels.

George Ragogna has over 30 years of experience in the Canadian financial services industry. Ragogna also has over 20 years of experience in a progressive leadership role specializing in strategic planning, corporate sales, workforce optimization and regulatory compliance. Ragogna successfully manages and supports a call center of over 550 employees, ensuring new and existing staff are trained and knowledgeable in the financial services industry and compliance processes.

Ragogna brings unique business acumen and strong technical skills that will strengthen the board at Naturally Splendid.

Larry Gilmour's professional career began in sales and marketing with internationally recognized brands such as Libby's (Libby, McNeil and Libby), Playtex Corp. and Black and Decker. Gilmour has also owned and operated chain grocery outlets including owner and operator of a Super Valu grocery store in Vancouver, B.C., for over five years. He has a successful track record of growing businesses with existing consumer bases.

Gilmour joined Independent Pharmacist Inc. where he leveraged his sales, marketing and management skills to drive membership up significantly –– increasing sales tenfold from $2 million to $22 million over four years. When the business was sold, Gilmour built another business called Vancouver Wholesale Drugs. Gilmour was a partner and general manager of Vancouver Wholesale Drugs and oversaw a sales increase from $5 million to $70 million in just six years. Gilmour then returned to the grocery world purchasing an IGA grocery store in Vancouver, B.C., that he operated for over eight years. More recently, Gilmour has been advising business owners of small- to medium-sized businesses in infrastructure, financing, sales and marketing.

Kris Tarr's professional career has spanned almost three decades as an information technology and internet marketing consultant. Tarr has held several senior marketing management and IT executive positions, applying his decades of experience in technology, management and leadership to deliver business results for organizations in the high-tech, pharmaceutical, tourism, entertainment, online gaming and real estate sectors.

Tarr has worked for globally recognized organizations such as Coca-Cola, Disney and Nickelodeon. As a consultant, he has guided over a hundred small and medium-sized businesses, developing and implementing online and e-commerce strategies.

In Vancouver, Canada, Tarr focused on internet marketing with an emphasis on search engine optimization and social media automation for the online gaming industry. Tarr held a position as senior SEO strategist for Bodog which is a major online gaming brand. Tarr has also held the positions of ITSM (IT service management) head, chief technology officer and IT solutions provider at Oriental Game which is Asia's leading online gaming solutions provider.

Tarr has started numerous lucrative business ventures and has built and operated many successful search engines including a property management franchise. He co-founded Waveless Websystems Inc., where he developed e-commerce solutions for the home building industry, which led him to Southeast Asia to expand the company's software development team.

Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) ("Cardiol" or the "Company"), a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of cardiovascular disease, is pleased to announce that it has entered into a sales agreement (the "ATM Agreement") with Canaccord Genuity LLC and Cantor Fitzgerald & Co. (the "Sales Agents") for an at-the-market offering program (the "ATM Program").

The ATM Agreement will allow the Company to offer and sell up to US$50 million of common shares of the Company (the "Offered Shares") under the ATM Program. The Offered Shares may be offered and sold by the Company to the public from time to time, through the sales agents. The Offered Shares sold under the ATM Program, if any, will be sold by means of ordinary brokers' transactions on the Nasdaq Capital Market (the "Nasdaq") or any other trading markets for the common shares in the United States at the prevailing market prices at the time of the sale. No Offered Shares will be offered or sold through the Toronto Stock Exchange or otherwise in Canada.

The timing and extent of the use of the ATM Program will be at the discretion of the Company and the Company has no obligation to sell any shares pursuant to the ATM Program. Accordingly, total gross proceeds from offerings under the ATM Program could be less than US$50 million. The ATM Program will be effective until the earlier of the issuance and sale of all of the Offered Shares issuable pursuant to the ATM Program and March 8, 2024, unless terminated prior to such date by Cardiol or the sales agents.

The sale of the Offered Shares through the ATM Program will be made pursuant to a prospectus supplement dated June 9, 2022 to the Company's Canadian final base shelf prospectus dated February 8, 2022, and the Company's United States final base shelf prospectus dated February 8, 2022 contained in the Company's registration statement Form F-10 (File No. 333-262342), as amended and effective on February 8, 2022, filed in each of the provinces and territories of Canada and in the United States with the United States Securities and Exchange Commission (the "SEC"). As outlined in the prospectus supplement, the Company intends to use the net proceeds of any such sales under the ATM Program for working capital purposes and other general corporate purposes, including the development of CardiolRx™ and other product candidates. Current and potential investors should read the base shelf prospectus in the registration statement, and the prospectus supplement relating to the at-the-market offering and other documents the Company has filed with the SEC for more complete information about Cardiol and the ATM Program.

A copy of the prospectus supplement and accompanying base shelf prospectus relating to these securities may be obtained by visiting the SEDAR at www.sedar.com and on EDGAR at www.sec.gov. Copies may also be obtained by contacting: Canaccord Genuity LLC, Attn: Syndicate Department, 99 High Street, Suite 1200, Boston, Massachusetts 02110, or by email at prospectus@cgf.com or from Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 4th floor, New York, New York 10022; Email: prospectus@cantor.com.

The Toronto Stock Exchange has conditionally approved the ATM Program and the Nasdaq has been notified of the ATM Program.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) is a clinical-stage life sciences company focused on the research and clinical development of cannabidiol as an anti-inflammatory and anti-fibrotic therapy for the treatment of cardiovascular disease.

Cautionary statement regarding forward-looking information:

This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements, other than statements of historical fact, that address activities, events, or developments that Cardiol believes, expects, or anticipates will, may, could, or might occur in the future are "forward-looking information". Forward-looking information contained herein may include, but is not limited to, statements relating to the Company's focus on developing innovative anti-inflammatory therapies for the treatment of cardiovascular disease, the timing and extent of the use of the ATM Program, that Offered Shares under the ATM Program will be sold on the Nasdaq, when the ATM Program will be effective and the use of proceeds from sales made under the ATM Program. Forward-looking information contained herein reflects the current expectations or beliefs of Cardiol based on information currently available to it and is based on certain assumptions and is also subject to a variety of known and unknown risks and uncertainties and other factors that could cause the actual events or results to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, and are not (and should not be considered to be) guarantees of future performance. These risks and uncertainties and other factors include the risks and uncertainties referred to in the Company's Annual Information Form dated March 23, 2022, as well as the risks and uncertainties associated with product commercialization and clinical studies. These assumptions, risks, uncertainties, and other factors should be considered carefully, and investors should not place undue reliance on the forward-looking information. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Cardiol disclaims any intent or obligation to update or revise such forward-looking information, whether as a result of new information, future events, or results, or otherwise.

For further information, please contact:

Trevor Burns, Investor Relations +1-289-910-0855 trevor.burns@cardiolrx.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127137

News Provided by Newsfile via QuoteMedia

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