Mr. Randall Smallbone reports

ASTRON CONNECT INC. REPORTS SECOND QUATER 2023 RESULTS

Astron Connect Inc. has released its second quarter results for the three months ended March 31, 2023.

Highlights for the three months ended March 31, 2023:

• Sales for three months ended March 31, 2023, were nil (2022 -- $32,432). There were no revenues recorded in the second quarter as a result of the down turn in the economy of China.
• Net loss of $125,353 for the three months ended March 31, 2023 (2022 -- net loss of $98,670), an increase of 27 per cent from FY 2022, mainly due to an increase of operating expenses.
• Operating expenses of $125,640 for the three months ended March 31, 2023 (2022 -- $99,010), an increase of 27 per cent from FY 2022, mainly due to an increase of filing fees, professional fees, and wages and benefits.
• As of March 31, 2023, the company had a working capital of $267,938 (2022 -- $479,735).

For further financial information, please refer to the annual audited consolidated financial statements at SEDAR or at the company's website.

Financial statements and management's discussion and analysis

The company's financial statements and management's discussion and analysis (MD&A) for the three and six months ended March 31, 2023, will be accessible on SEDAR under Astron's profile and on the company's website.

About Astron Connect Inc.

Astron Connect helps Canadian enterprises in the food and beverage industry break through the noise and bring their products to new international markets in the emerging world. Astron Connect brings Canadian food and beverage companies to the world through its extensive connections and export logistics capabilities in China and emerging markets. Manna Water and Sachiel Water (both Astron brands) supply China and other emerging markets with pure Canadian bottled spring water.

We seek Safe Harbor.