Mr. Paul Sullivan reports

TRUE LEAF CLOSES REPAYMENT DEFERRAL TRANSACTION

True Leaf Brands Inc. has executed a waiver, amendment and financing agreement supplement with an entity managed by The Lind Partners, a New York-based institutional fund manager, and has closed the transactions contemplated by the waiver.

"We are excited to continue as a key partner of True Leaf by supporting their strategic growth plan," said Phillip Valliere, managing director at The Lind Partners. "True Leaf's expanded natural pet care product lines and growing retail footprint have positioned the company to be a leader in the global pet care market, and, as an investor, we continue to believe that True Leaf has tremendous commercial growth potential."

The waiver provides for: (i) a six-month repayment deferral to March 22, 2020, under the convertible security financing agreement dated Feb. 12, 2019, between the investor and the company; (ii) the issuance of an additional convertible security with a face value of $540,000 to the investor; and (iii) the issuance of 2.16 million warrants of the company to the investor.

The face value of the deferral convertible security is convertible into common shares of the company at a conversion price of 21 cents per share. The company is required to repay the principal amount of the deferral convertible security in 18 equal monthly payments commencing six months after closing, except that the repayment amount will be reduced in any month by any amount converted by the investor into the company's common shares.

Each warrant entitles the investor to purchase one common share at an exercise price of 21 cents. The warrants expire 36 months from their date of issue.

About True Leaf Brands Inc.

True Leaf Pet Inc., a subsidiary of True Leaf Brands, is a leading global pet care company. Inspired by the unconditional love pets give people every day, the company returns that love through its wellness pet products, which help maintain and protect the natural vitality of pet companions.

True Leaf Cannabis Inc., also a subsidiary of True Leaf Brands, is in the final stages of approval to become a licensed producer of cannabis in Canada. True Leaf Cannabis Inc. owns True Leaf campus, an 18,000-square-foot cannabis cultivation and production facility in Lumby, B.C.

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