Mr. Andre Audet reports

MOLECULE HOLDINGS INC. ANNOUNCES DELAY OF INTERIM FILINGS

Molecule Holdings Inc. anticipates the filing of its interim financial statements, management's discussion and analysis, and related officer certifications for the three and nine months ended July 31, 2023, will be delayed beyond the required filing deadline under parts 4 and 5 of National Instrument 51-102 (Continuous Disclosure Obligations) and pursuant to National Instrument 52-109 (Certification of Disclosure in Issuer's Annual and Interim Filings), being Sept. 29, 2023.

In light of a delay in the preparation of the interim filings as a result of a contractual dispute between the company and the financial service company that assists the company with finance-related consulting services regarding the delayed payment of fees, the company has determined that it will not be able to complete the preparation and filing of the interim filings by the filing deadline. The company continues to engage in active discussions with the consultant to agree to an amicable resolution. Management of the corporation anticipates that the interim materials will be filings as soon as possible, and in any event no later than Nov. 29, 2023.

The company is providing this default announcement in accordance with National Policy 12-203 (Management Cease Trade Orders). The company has made an application to the Ontario Securities Commission, as principal regulator of the company, for a management cease trade order under NP 12-203 in respect of the anticipated default regarding the interim filings. The granting of the MCTO is at the discretion of the Ontario Securities Commission. The issuance of the MCTO generally will not affect the ability of persons who have not been directors, officers or insiders of the company to trade in their securities. In the event that the MCTO is granted, it will be in effect until the default is remedied.

The company intends to follow the provisions of the alternative information guidelines set out in NP 12-203, including the issuance of biweekly default status reports in the form of news releases, for as long as the company remains in default. The company confirms, as of the date of this news release, that there is no insolvency proceeding against it and there is no other material information concerning the affairs of the company that has not been generally disclosed.

About Molecule Holdings Inc.

Molecule is a licensed producer dedicated to creating cannabis-infused beverages for the Canadian market. It produces leading, top-quality drinks to provide opportunity and choice to people seeking a convenient and social way to consume cannabis. Molecule is focused on building both its portfolio and the overall cannabis beverage market. It wants to ensure people have the best opportunity to find exactly the product and experience they thirst for.

We seek Safe Harbor.