Mr. Brian Jansen reports

BELLROCK BRANDS ANNOUNCES ENTRY INTO THE ARKANSAS MARKET, EXPANSION OF ITS PRODUCT OFFERING IN MISSOURI; DEPARTURE OF GENERAL COUNSEL

Bellrock Brands Inc. has entered into a licensing agreement with Dark Horse Medicinals LLC to bring the Mary's Medicinals and Dixie brands to Arkansas. Bellrock's entrance into the Arkansas market continues the company's vision of expanding access to customers via partnerships with industry leaders such as Dark Horse. Mary's Medicinals products will be available in Arkansas in Q4 2023, with the launch of Dixie products expected to follow in 2024.

"Dark Horse is a cannabis leader in Arkansas. They have a customer-first mentality as evidenced by their market penetration and loyal consumer following. We are excited to launch Mary's award-winning patches and wellness products this year," stated Brian Jansen, president and chief executive officer of Bellrock Brands. "Dark Horse Medicinals is proud to partner with Bellrock Brands to bring Mary's Medicinals and Dixie to Arkansas patients. We firmly believe in bringing quality and consistent products to the people of Arkansas, and Bellrock has a proven track record of each of those core values," said Casey Flippo, CEO of Dark Horse Medicinals.

Additionally, Dixie Brands is in the process of launching several new product lines in the state of Missouri under its licensing agreement with its strategic partner, BRB Missouri LLC. Dixie Peak gummies, Dixie SYNERGY gummies and Dixie Vapes will all be available throughout the state of Missouri by the end of 2023. Peak gummies will cater to the rapidly growing subcategory of high-milligram products. SYNERGY gummies introduce ratioed and products containing minor cannabinoids. Dixie's new vapes showcase flavours that mirror the brand's most popular flavours, such as Berry Blaze and Tropic Twist. The Missouri market has shown tremendous growth since its launch of adult-use earlier this year.

Bellrock is also continuing to execute its previously announced operational turnaround. Last year, the company made several changes to senior management and engaged West 4th Holdings LLC, a management consulting firm focused on improving operational productivity for small- to mid-size companies. Under this leadership, Bellrock continues to execute strategies to reduce costs, drive margin expansion and improve cash flow. Alongside these operational actions, the company has engaged creditors with the goal of lowering the company's overall debt and interest burden. In pursuing a long-term success strategy, Bellrock is considering all strategic alternatives to maximize value for its various stakeholders. These may include, but are not limited to, future corporate development activities, restructuring of debt obligations on its balance sheet and raising new capital.

Today the company is also announcing the resignation of Kerry Bilewski as general counsel and corporate secretary, effective Nov. 1, 2023.

About Bellrock Brands Inc.

Bellrock Brands is a multistate cannabis house of brands possessing one of the industry's broadest product portfolios. Bellrock offers more than 100 products through Dixie Brands and Mary's Medicinals. Dixie Brands is a leading edibles and beverage company. Mary's Medicinals is the leader in the cannabis health and wellness category. Bellrock's products are currently offered in 11 U.S. states and in Canada. Bellrock is also home to Mary's Nutritionals, Mary's Tails and Mindset.

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