Mr. Ilan Sobel reports

BIOHARVEST UNVEILS NEW CONSUMPTION CATEGORIES FOR ITS FLAGSHIP PRODUCT VINIA

Bioharvest Sciences Inc. plans to enter new consumption categories where Vinia will be incorporated to create unique and highly differentiated products for the food and beverage and nutraceuticals markets.

Vinia's success in the first two years since its 2021 United States launch is not only celebratory in terms of significant revenue growth and market penetration, but also for the important data accumulated from the use of the Vinia product by over 35,000 consumers. Through thorough analysis of these data, the company has identified significant opportunities to drive strongly differentiated and winning product propositions anchored in Vinia and its blood flow benefits, which can disrupt three major categories that consumers are actively engaging in on a regular basis. These three categories include:

1. Functional coffee and decaffeinated coffee pods category: Represents an estimated total market consumption of 2.6 billion coffee pods annually in North America;
2. Protein bar category: The North American protein bar market is valued at an estimated $2.5-billion (U.S.) and growing at a CAGR (compound annual growth rate) of 6.7 per cent;
3. Electrolytes beverage market: Represents a potential $15.3-billion (U.S.) opportunity in North America.

Bioharvest announces that it has now identified a strategic manufacturing partner within each of these categories, each of which has already successfully integrated Vinia into unique delivery systems that deliver a superior taste experience while maintaining Vinia's superior science and functionality that combine to improve blood flow.

Scott McCune, former head of global sports and entertainment marketing at the Coca-Cola Company, commented: "Bioharvest is making a smart strategic move in extending the reach of Vinia by availing the product through additional consumption occasions that fit into different lifestyles and habits, such as sports and the important coffee drinking ritual. Bioharvest's superior science gives them the authority and confidence to support all their highly differentiated claims across their new product lineup and disrupt the new categories they are entering."

"Our botanical synthesis continues to take us to new horizons -- moving from one SKU [stock-keeping unit] to 10 SKUs in the course of the next 12 months will be a game changer for Bioharvest," said Ilan Sobel, chief executive officer. He added: "The scalability we achieve in our e-commerce platform will be enhanced almost tenfold, with our superior science, superior taste and superior efficacy reflecting the obvious unique features of these new products. We are setting the stage for continued growth acceleration in 2024 as we implement the right strategies to optimize the financial performance of the company."

Bioharvest believes that Vinia can enter these new categories without substantial additional R&D (research and development) investment, and that this will achieve several key strategic imperatives over the next 18 months, including:

1. Broadening the addressable market to include additional age ranges as well as lifestyles;
2. Increasing top-line revenue to achieve double-digit quarter-over-quarter growth;
3. Leveraging the existing manufacturing capacity by potentially doubling the production output;
4. "Premium-izing" the Vinia portfolio by launching differentiated higher-margin profits versus the current base product;
5. Increasing marketing efficiencies by cross-selling products across the new portfolio;
6. Improving bottom-line profitability and cash flow performance.

Q2 marketing and product update event -- Thursday, June 22, 2 p.m. ET

To learn more about the planned products and timing of introduction, please join the Q2 update Zoom conference on June 22, at 2 p.m. ET. Register on-line.

About Bioharvest Sciences Inc.

Bioharvest Sciences is a fast-growing biotech firm listed on the Canadian Securities Exchange. Bioharvest has developed a patented bio-cell growth platform technology capable of growing the active and beneficial ingredients in fruit and plants, at industrial scale, without the need to grow the plant itself. Bioharvest is currently focused on leveraging its botanical synthesis technology to develop the next generation of science-based and clinically proven therapeutic solutions, within two major business verticals: nutraceutical health and wellness products such as dietary supplements; and development of plant cell-based active pharmaceutical ingredients (APIs) that focus on specific medical indications.

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