Mr. Bernie Yeung reports

ATLAS GLOBAL BRANDS ANNOUNCES FILING OF ANNUAL FINANCIAL STATEMENTS

Atlas Global Brands Inc. has filed its audited annual consolidated financial statements and related management's discussion and analysis and certifications for the financial year ended March 31, 2023.

Further to its news release on April 3, 2024, the Company also filed its amended and restated its unaudited consolidated interim financial statements for the three and twelve month period ended December 31, 2022 and December 31, 2021 comparable period and related management discussion and analysis thereon (together, the "A&R Interim Financials") to reflect certain adjustments to the accounting treatment of the reverse takeover transaction completed on December 30, 2022 and described in detail in the Company's news release of January 4, 2023.

The Required Annual Filings and the A&R Interim Financials were filed on April 9 , 2024, and copies of these documents are available under the Company's profile on SEDAR+ (www.sedarplus.ca).

As more particularly set out in the news release filed on August 9, 2023, on August 8, 2023, the Ontario Securities Commission (the "OSC"), the Company's principal regulator, issued a failure-to- file cease trade order (the "FFCTO"), the FFCTO following the Company's failure to file the Required Annual Filings.

Since the FFCTO, the Company also failed to file the interim financial statements, related management's discussion and analysis and certifications, for the three months ended June 30, 2023, September 30, 2023 and December 31, 2023 (collectively, the "Required Interim Filings"). The Company anticipates it will have completed the Required Interim Filings on or about May 15, 2024.

With the Required Annual Filings complete, the Company intends to make application to the OSC for a full revocation of the FFCTO. The FFCTO will not be revoked until, at least such time as, the Required Interim Filings are made and reviewed by the OSC.

Upon filing of all of the Required Interim Filings, the Company will be current in its continuous disclosure obligations. Its annual consolidated financial statements for the period ended March 31, 2024 are due July 29, 2024.

About Atlas Global Brands

Atlas Global is a global cannabis company operating in Canada and Israel with expertise across the cannabis value chain, including cultivation, manufacturing, marketing, and distribution. Atlas Global currently distributes to eight countries: Australia, Canada, Denmark, Germany, Israel, Norway, Spain and the United Kingdom. In addition to a differentiated product mix, Atlas Global operates two licensed cannabis facilities, one of which has European Union good manufacturing practices, and three medical pharmacies in Israel.

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