Mr. Vincent Narang reports

GREEN RISE FOODS ANNOUNCES Q1 FISCAL 2023 FINANCIAL RESULTS AND PROVIDES CROP UPDATE

Green Rise Foods Inc. has released its interim condensed consolidated financial results for the three-month period ended March 31, 2023.

The complete interim condensed consolidated financial statements and associated management's discussion and analysis (MD&A) are available under the company's profile on SEDAR.

The men and women of Green Rise continue its harvest, pack and ship operations with excellence. The company's growers, led by the company's chief growth officer, Adam Suder, monitor the health of each crop daily with the guidance of the company's independent high-tech hydroponic greenhouse crop consultant, Dr. Sana Sadar. "I am pleased to report that as of this press release, all of the company's crops are healthy and fresh produce is being grown, picked and shipped. Year-to-date produce pounds shipped at the company's GR1 and GR2 greenhouses are at or have exceeded prior year-to-date pounds shipped. In addition, I am very pleased to report that the company's GR3 greenhouse, acquired on June 30, 2022, has also started to ship specialty sweet mini-peppers. The plants benefit from the warmer weather during the day and cooler nighttime temperatures help optimize yields. Our finance and operations teams continue to be diligent on managing costs as budgeted," said Vincent Narang, the company's chief executive officer.

About Green Rise Foods Inc.

Green Rise is a grower of fresh produce with 72.5 acres of producing greenhouse ranges located in Leamington and Kingsville, Ont. The best-in-class contract grower, the company takes pride in providing high-quality, consistent and reliable product to meet the growing consumer demand for locally grown fresh produce. The company is proud to be an environmentally sustainable investment, producing locally grown, bee-pollinated fresh produce using less water than field-grown produce.

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