Mr. Chadwick White reports

EARLY WARNING REPORT ISSUED PURSUANT TO NATIONAL INSTRUMENT 62-103 - ACQUISITION OF SECURITIES OF NEPRA FOODS INC.

This news release relates to the securities of Nepra Foods Inc. William Hogan acquired 10.84 million units of the company at a price of five cents per unit in a non-brokered private placement completed by the company for an aggregate subscription price of $542,000. Each unit comprises one common share in the capital of the company and one share purchase warrant. Each warrant entitles the holder thereof to acquire one additional common share at a price of 10 cents per warrant share for a period of two years from the closing date of the private placement.

Immediately prior to the private placement, the acquiror did not own any common shares. Following completion of the private placement, the acquiror owns an aggregate of 10.84 million common shares, representing approximately 13.9 per cent of the issued and outstanding common shares on an undiluted basis. The acquiror also owns an aggregate of 10.84 million warrants as part of the purchase of the units, entitling the acquiror to purchase 10.84 million common shares. If the acquiror exercises all of his warrants, he would then own 21.68 million common shares, representing approximately 27.9 per cent of the issued and outstanding common shares of the company on a partially diluted basis.

The private placement resulted in an approximate 13.9-per-cent change (from 0 per cent to 13.9 per cent) in the acquiror's ownership and/or control over common shares of the company on an undiluted basis.

The acquiror acquired the units for investment purposes under an exemption provided under National Instrument 45-106, Prospectus Exemptions. The acquiror may, depending on market and other conditions, increase or decrease his ownership of the company's securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.

To obtain a copy of the early warning report filed by the acquiror, refer to the company's SEDAR+ profile.

We seek Safe Harbor.