Mr. Nima Bahrami reports

BETTERMOO(D) ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Bettermoo(d) Food Corp. will conduct a non-brokered private placement through the issuance of up to 5,592,105 units at a price of $1.52 per unit for gross proceeds of up to $8.5-million. Each unit will consist of one common share and one-half of one transferable share purchase warrant. Each whole warrant entitles the holder thereof to purchase one additional share of the company for a period of five years from issuance, at a price of $1.90 per share.

The company intends to utilize the proceeds of the private placement to support its existing operations and for general working capital purposes.

The company will issue shares equal to 2.0 per cent of the number of units issued in the private placement (admin fee shares) to Amalfi Corporate Services Ltd. as an administrative fee for Amalfi's assistance with the private placement. The company does not anticipate paying any finders' fees related to the private placement.

Amalfi is a private company controlled by Geoff Balderson, chief financial officer, corporate secretary and a director of the company, and an issuance of admin fee shares to Amalfi is considered to be a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the issuance of the admin fee shares issued to Amalfi will not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101.

Closing of the first tranche of the private placement is anticipated to occur on or about April 17, 2024. Pursuant to applicable securities laws, all securities issued under the private placement will be subject to a statutory hold period of four months and one day from issuance.

The company also announces that its board of directors have cancelled an aggregate total of 314,500 stock options (the cancelled options) previously held by certain directors, officers and consultants of the company.

The terms of the cancelled options were as shown in the attached table.

About Bettermoo(d) Food Corp.

Bettermoo(d) is an innovative plant-based dairy-alternative food and beverage company based in Vancouver, B.C., Canada, launching Moodrink, a nutritious dairy-alternative beverage with a revolutionary flavour. Moodrink includes a blend of herbs and flowers similar to what cows ate before the time of mass livestock production. Like rich dairy products, Moodrink contains added healthy plant fats and vitamins, so consumers do not miss out. The Moodrink is just the beginning of the revolution for the Vancouver-based dairy-alternative company, Bettermoo(d).

Driven by the motto "what a cow eats and a human needs," Bettermoo(d) seeks to produce dairy-alternative products that are good for both people and the planet -- ensuring that all products are nutritious and sustainably sourced -- and that also emulate the great taste of traditional milk from the Alps regions of Switzerland, France and Austria. Working with food scientists, the company has a goal to conduct continuous food research and development programs with the aim of rolling out a full line of dairy-alternative products, including Moogurt and Buetter, as well as many other products, that are better for you and better for the planet.

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