Mr. Marc Aneed reports

EAT WELL GROUP INC. ANNOUNCES EXPECTED DELAY IN FILING ANNUAL AUDITED FINANCIAL STATEMENTS

The filing of Eat Well Investment Group Inc.'s audited annual financial statements for the year ended Dec. 31, 2022, the related management discussion and analysis, and certificates of its chief executive officer and chief financial officer will be delayed until after the filing deadline of May 1, 2023.

Although the company and its auditor continue to work diligently toward completing the required filings as soon as possible, the company has made an application to the British Columbia Securities Commission (BCSC) for a management cease trade order (MCTO). The BCSC has confirmed its acceptance of the company's application and its intention to grant the MCTO on May 2, 2023. Once granted, the MCTO would restrict Eat Well's chief executive officer and chief financial officer from trading in securities of the company, whether direct or indirect, until the required filings are filed.

The delay in filing the required filings was due to the unforeseen challenge in finding a suitable successor auditor after the company's former auditor, Davidson & Co. LLP, resigned, at the request of the company, on Sept. 19, 2022. CM3 Advisory was appointed as the company's auditor on March 10, 2023.

Although the company's audit is progressing, the company and its new auditor are still reviewing the application of certain accounting standards with respect to the treatment of its investments and whether a change of accounting treatment is necessary. The company is working diligently with its accounting staff and external auditor to file the required filings and expects to be able to file the required filings no later than June 30, 2023.

Until the required filings are filed, the company intends to comply with the provisions of the alternative information guidelines as set out in National Policy 12-203, Management Cease Trade Orders, for as long as it remains in default, including the issuance of biweekly default status reports in the form of a news release.

About Eat Well Investment Group Inc.

Eat Well is a publicly traded company primarily focused on the agribusiness, food tech, plant-based and ESG (environmental, social and governance) sectors. Eat Well's management team has an extensive record of sourcing, financing and building successful companies across a broad range of industries and maintains a current focus on the health/wellness industry. The team has financed and invested in early-stage venture companies for greater than 25 years, resulting in unparalleled access to deal flow and the ability to construct a portfolio of opportunistic investments intended to generate superior risk-adjusted returns.

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