Mr. S. Randall Smallbone reports

ASTRON CONNECT INC. REPORTS THIRD QUARTER 2023 RESULTS

Astron Connect Inc. has released its third quarter results for the three months ended June 30, 2023.

Highlights for the three months ended June 30, 2023:

• Sales for the three months ended June 30, 2023, were $28,283 (2022: nil).
• Sales for the nine months ended June 30, 2023 were $28,283, compared with $32,432 for the same period last year.
• Net loss was $66,014 for the three months ended June 30, 2023 (2022: net loss of $148,758), a decrease of 55.63 per cent from fiscal 2022, mainly due to a decrease of operating expenses.
• Operating expenses were $66,321 for the three months ended June 30, 2023 (2022: $157,525), a decrease of 57.90 per cent from fiscal 2022, mainly due to an increase of filing fees, professional fees, and wages and benefits.
• As of June 30, 2023, the company had a working capital of $201,924 (2022: $479,735).

Financial statements and management discussion and analysis

The company's financial statements and management discussion and analysis for the three and nine months ended June 30, 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.

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