Mr. Peter Shippen reports

BRITANNIA LIFE SCIENCES ANNOUNCES STRATEGIC INVESTMENT IN COSMETICS LAB LTD.

Britannia Life Sciences Inc. has acquired an initial 51-per-cent interest in Cosmetics Lab Ltd. Based in Horsham, in southern England, CosLab has established a 15-year legacy as a leading independent regulatory partner and manufacturer of high-quality cosmetic products for some of the world's most known brands and retailers.

"We look forward to working closely with Ian Dawson, managing director of CosLab, and his team to support the continued growth of the business, including committing resources to expand the new product development, regulatory and manufacturing offerings of CosLab," Peter Shippen, chief executive officer, Britannia.

The acquisition is expected to result in revenue synergies through the pairing of CosLab's regulatory and manufacturing expertise with Britannia's technology-driven formulation, compliance and testing platform, providing clients with an end-to-end solution for their product development and launch initiatives. Britannia expects the acquisition of CosLab to result in an increase in consolidated revenues and EBITDA (earnings before interest, taxes, depreciation and amortization) of 1.5 million to two million pounds sterling ($2.5-million to $3.3-million) and 300,000 to 500,000 pounds sterling ($500,000 to $830,000), respectively, over the next 12 months.

The ability to support clients from concept to consumer is an important principle for Britannia, and the acquisition of CosLab simplifies the go-to market for new products while facilitating research and development and scale-up of production for companies large and small. Britannia continues to seek to expand and scale its service offering by acquiring and partnering with companies that are well respected in their markets.

"The ability to expand our service offering for new and growing brands strengthens the relationship and flexibility we have as the cosmetics industry's one-stop shop, while better informing our R&D, manufacturing and supply chain expertise," said Mark Bowes-Cavanagh, chief executive officer of Britannia's subsidiary, Advanced Development and Safety Laboratories. "Complementing such a meaningful manufacturing legacy, with our consumer insights and regulatory expertise, presents a truly exciting opportunity for growth and innovation."

The terms of the transaction include put/call provisions in favour of the vendor and Britannia that would result in Britannia owning 100 per cent of CosLab.

About Britannia Life Sciences Inc.

Britannia is a global platform, offering an integrated suite of services to assist companies along their product development journey. Britannia's services, including product formulations, safety assessments, analytical and microbiological testing, global compliance, and consumer evaluations, are offered to companies ranging from multinationals to start-ups particularly in the cosmetics, food and wellness industries. Britannia has garnered significant expertise in the development and regulatory approval of topical and edible cannabis products, including preparation and support for novel food authorizations.

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