Mr. Karl Kottmeier reports

CHEMISTREE DEBENTUREHOLDERS APPROVE DEBT RESTRUCTURING

Chemistree Technology Inc.'s adjourned extraordinary meeting of the holders of the 10 per cent senior unsecured convertible debentures of the company was reconvened on and completed today.

The debenture holder meeting

At the debenture holder meeting, holders of the debentures approved the following extraordinary resolutions:

(i) approval of the repayment of all of the issued and outstanding debentures in the aggregate principal amount of up to $6,837,000 and extinguishment of all the debenture holders' rights and claims under the debentures by way of issuance of common shares in the capital of the company on the basis of a price of one cent per common share, all as more fully described in the information circular of the company dated March 12, 2024;

(ii) granting the right and authorizing Odyssey Trust Company to accept or consent on behalf of the debenture holders to any plan of reorganization or restructuring transaction that may be made in any bankruptcy, liquidation, restructuring or other insolvency proceeding relative to the company, by taking action of any character in such proceeding without any further extraordinary resolution being required prior to such acceptance or consent being granted.

Effective date of the restructuring transaction

Chemistree expects to extinguish the $6,668,000 outstanding debentures via the issuance of 666.8 million common shares. The company anticipates that the restructuring transaction will become effective on or about May 9, 2024, though it is not possible to state with certainty when this date will occur, which could be delayed for a number of reasons. The board of directors of the company have retained the discretion, without further notice to or approval of the debenture holders, to revoke any part of the restructuring resolution at any time prior to the company completing the restructuring transaction.

About Chemistree Technology Inc.

Chemistree Technology is a Canadian investment company whose strategy is to focus on opportunistic investments across a broad range of industries, and is seeking to invest in early-stage, promising companies where it may be the lead investor and can additionally provide investees with advisory services, mentoring and access to the company's management expertise. Existing holdings are in a consumer-targeted biotechnology venture, a renewable energy developer in the wind and solar sector, a plant-based wellness company, and an Ontario limited partnership to take advantage of opportunistic long/short equity opportunities in both potential upside and downside expected price moves.

We seek Safe Harbor.