An anonymous director reports

ELSE NUTRITION ANNOUNCES CLOSING OF C$5 MILLION OFFERING OF UNITS

Else Nutrition Holdings Inc. has closed its previously announced offering of units of the company. Pursuant to the Offering, the Company issued a total of 13,000,000 Units at a price of C$0.385 per Unit for gross proceeds of C$5,005,000. Each Unit is comprised of one common share in the capital of the Company and one common share purchase warrant. Each warrant is exercisable to acquire one common share at a price of C$0.485 until November 21, 2028.

The Company plans to use the net proceeds from the Offering to fund research and development, fund sales and marketing, acquire inventory, and for general corporate purposes.

A.G.P. Canada Investments ULC acted as the sole agent and bookrunner for the Offering and received a cash commission equal to 7% of the aggregate gross proceeds of the Offering and 650,000 common share purchase warrants exercisable at $0.485 per share until November 21, 2026.

In connection with the Offering, the Company filed a prospectus supplement dated November 21, 2023, to its short form base shelf prospectus dated November 10, 2023, with the securities commissions in each of the provinces of Canada, excluding Quebec. Copies of the supplement and the base shelf prospectus are available on SEDAR+ at www.sedarplus.ca.

About Else Nutrition Holdings Inc.

Else Nutrition Holdings Inc. (TSX: BABY, OTCQX: BABYF, FSE: 0YL) is a food and nutrition company in the international expansion stage focused on developing innovative, clean, and plant-based food and nutrition products for infants, toddlers, children, and adults. Its revolutionary, plant-based, non-soy formula is a clean-ingredient alternative to dairy-based formulas. Since launching its Plant-Based Complete Nutrition for Toddlers, made of whole foods, almonds, buckwheat, and tapioca, the brand has received thousands of powerful testimonials and reviews from parents, gained national retailer support, and achieved rapid sales growth.

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