Mr. Ilan Sobel reports

HEALTH CANADA GRANTS BIOHARVEST SCIENCES LICENSE FOR VINIA SALES IN CANADA

Bioharvest Sciences Inc.'s flagship nutraceutical product derived from red grape cells, Vinia, has received its Canadian product licence from Health Canada's Natural and Non-Prescription Health Products Directorate. This product licence authorizes Bioharvest Sciences to sell Vinia in Canada. The expansion of the reach of Vinia into additional geographies (beyond Israel and the United States) is one of the important factors in the sales growth strategy of Bioharvest for the years to come.

"We are pleased that Vinia has been granted its Canadian product licence on schedule, and that Health Canada's review resulted in favourable approvals on Vinia's functional claims," stated Ilan Sobel, chief executive officer. Mr. Sobel added, "Canada is an integral step in our global expansion strategy, and our Canadian product licence will accelerate our growth in this health-conscious market by enabling us to directly target Canadian consumers locally, with a strong on-line and local retail presence."

The Health Canada licence includes the approval of compelling health claims that supports Vinia's clinically proven health benefits:

• Helps to maintain and/or support cardiovascular health;
• Helps support endothelial function;
• Helps maintain endothelium-dependent vasodilation, which contributes to normal blood flow;
• Source of an anti-oxidant/provides an anti-oxidant that helps fight/protect (cells) against/reduce (the oxidate effect of/the oxidative damage by/cell damage caused by) free radicals.

Vinia was launched into the United States in 2021, and its rapidly growing customer base is being built via a direct-to-consumer and direct-to-doctor model, with the product purchased on-line and on Amazon, as well as being available at many of the top integrative medicine centres in the U.S. Bioharvest Sciences expects Canadian sales to include similarly optimized e-commerce sales and direct-to-doctor sales, with the potential for a retail vertical, to capitalize on Canada's well-established health product distribution networks.

Future global expansion

Following the Canadian launch, Bioharvest is targeting further expansion into other major global markets, including the $40-billion (U.S.) Chinese health supplement market, where it expects to initially build a strong presence via cross border e-commerce marketplace platforms.

About Vinia

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. In late 2023 and early 2024, Bioharvest is expecting to launch several new product verticals that include Vinia, which will include functional coffee, protein bars and sports hydration products.

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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