Mr. Jeff Swainson reports

SIMPLY SOLVENTLESS ANNOUNCES UPSIZING OF PREVIOUSLY ANNOUNCED NON-BROKERED PRIVATE PLACEMENT TO GROSS PROCEEDS OF UP TO $800,000

Due to very strong demand, Simply Solventless Concentrates Ltd. has upsized its non-brokered private placement of units from aggregate gross proceeds of up to $500,000 to aggregate gross proceeds of up to $800,000. The financing was previously announced in Simply Solventless's press release dated March 28, 2024, which is available under Simply Solventless's SEDAR+ profile. All securities issued under the financing will be subject to a hold period expiring four months and one day from the date of issue.

Simply Solventless intends to use the net proceeds of the financing: to facilitate accelerated production of its Astrolab, Frootyhooty and Lamplighter products for delivery into the Ontario and Alberta recreational cannabis markets; for expansion into new markets; and for capital expenditures related to production efficiencies.

Up to 5,333,334 units will be issued pursuant to the financing at a price of 15 cents per unit, with each unit consisting of one common share of Simply Solventless and one common share purchase warrant of Simply Solventless. Each warrant is exercisable for one common share of Simply Solventless at a price of 20 cents for a period of three years from the date of issue.

It is anticipated that some of the subscribers in the financing will be insiders of Simply Solventless. Subscriptions for units by insiders of Simply Solventless will be considered related party transactions for the purposes of National Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. It is anticipated that Simply Solventless will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101.

The closing of the financing is subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

About Simply Solventless Concentrates Ltd.

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

We seek Safe Harbor.