Mr. Jeff Swainson reports

SIMPLY SOLVENTLESS PROVIDES UPDATE ON LAMPLIGHTER INTEGRATION & INITIAL PURCHASE ORDERS, POSTS UPDATED INVESTOR PRESENTATION, AND CONDUCTS INTERVIEW ON PROACTIVE INVESTORS

Simply Solventless Concentrates Ltd. has provided an update regarding the Lamplighter acquisition integration and initial Lamplighter purchase orders. Simply also advises that it has posted an updated investor presentation to its website and conducted a pro-active investors video interview on Feb. 9, 2024.

Lamplighter integration and initial Lamplighter purchase orders

Simply acquired Lamplighter on a 100-per-cent vendor-financed basis on Jan. 17, 2024, for consideration of up to $570,000. Lamplighter is being integrated into Simply's operations ahead of schedule, with 12 of 21 preacquisition listings transferred to Simply in the first month. Simply is working to transfer the remaining nine listings as soon as possible.

First month purchase orders on seven of the 12 transferred listings totalled $511,000. Lamplighter's Tiger Berry three times 0.5-gram infused prerolls were the No. 13 three times 0.5-gram infused preroll in Ontario during January, 2024, on a sales basis, with 645 cases sold to retail stores. The three times 0.5-gram format is the largest format in the infused preroll category.

Jeff Swainson, president and chief executive officer of Simply, stated: "Lamplighter purchase orders received to date indicate revenue run rates analogous to Lamplighter's 2023 projected gross revenue of $6.8-million. We are encouraged by the value that this acquisition is already providing to our shareholders and by what our team will accomplish with the Lamplighter brand through 2024. SSC will provide Q1 2024 revenue guidance, which will include consolidated Astrolab, Frootyhooty, Lamplighter and B2B revenue, on or around April 1, 2024."

About Simply Solventless Concentrates Ltd.

Simply is a public company incorporated under the Business Corporations Act (Alberta). Simply's mission is to provide pure, potent, terpene-rich ready to consume cannabis products to discerning cannabis consumers.

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