Mr. Ilan Sobel reports

BIOHARVEST ANNOUNCES AUGUST 2023 U.S. VINIA SALES EXCEEDED USD $1MILLION

U.S. sales of Bioharvest Sciences Inc.'s flagship product, Vinia, in the month of August have crossed the $1-million-(U.S.)-per-month line. This significant milestone marks a new inflection point in Bioharvest's journey and offers further validation of its botanical synthesis technology platform.

This milestone also demonstrates the power of the Vinia brand. Vinia continues to achieve a best-in-class verified customer rating of 4.8 out of five with over 2,700 verified reviews, demonstrating its significant positive impact to consumers' lives. With production capacity on the ascending curve, Bioharvest plans to leverage the sales momentum in order to reach the efficiencies of scale required to achieve profitability in the near term.

"What makes this milestone so outstanding is that it is being achieved while improving marketing efficiency. This gives us a strong shot of confidence in the future to come, as we prepare to bring additional products to market," stated chief executive officer Ilan Sobel. Mr. Sobel added: "We have built a powerful direct marketing and sales platform already capable of delivering over $1-million in monthly revenue with just one product SKU. I am looking forward to reaching new revenue milestones as we aggressively grow our product portfolio in the next 12 months."

All North American Vinia packaged sales are direct to consumer, and the product is exclusively available on the Vinia and Amazon websites. Vinia is the first commercially released product developed using Bioharvest's proprietary botanical synthesis platform, which can consistently produce patentable botanical compositions without growing the plant itself. The platform can elicit (increase) specific active phytochemicals to achieve concentrations many times what is found in nature, making this technology efficient and economic. Vinia contains multiple polyphenols, including piceid resveratrol, with an amount in each daily 400-milligram (mg) capsule that is equivalent to 1,000 grapes, resulting in a powerful nutraceutical that has been clinically proven to significantly increase arterial dilation.

Live corporate webinar, Sept. 6, 2:30 p.m. ET

Bioharvest Sciences will hold a live shareholder presentation today, Sept. 6, at 2:30 p.m. Eastern Time. The interactive meeting will include a discussion of current and upcoming sales programs, and the Q2 2023 results, and an update on new product initiatives. All interested media and investors are welcome to register on-line.

In Q2, the company reported a net loss per share for the quarter of 0.6 U.S. cent per share, for a total of $2.85-million (U.S.). Based on the projected revenue growth rate and plans for increased Vinia production, the company is targeting cash flow break even in late 2023 and profitability in early 2024.

About Bioharvest Sciences Inc.

Bioharvest 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 an 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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