Mr. Kingsley Ward reports

SIMPLY BETTER BRANDS CORP. ANNOUNCES UPSIZING AND EXTENSION OF NON-BROKERED PRIVATE PLACEMENT TO $4,000,000 FROM $2,000,000

Simply Better Brands Corp. has increased the size of its non-brokered private placement, as described in the company's news release dated April 17, 2024.

The company now intends to issue up to 11,428,571 units of the company at a price of 35 cents per unit for gross proceeds of up to $4-million (from $2-million previously). All currency in this news release is denominated in Canadian dollars.

"Based on strong initial demand, we are pleased to increase the size of the private placement to allow more interested parties the opportunity to participate," said Simply Better interim chief executive officer and chairman Kingsley Ward. "We anticipate participation in the placement from the majority of our board and senior management reflecting confidence in our strategy and the growth trajectory of the Trubar brand."

Each unit will consist of one common share in the capital of the company and one-half of one transferrable common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share in the capital of the company for a period of 24 months from the date of issue at an exercise price of 45 cents per warrant share.

The company intends to use the expanded net proceeds of the private placement to support the growth and continued market expansion of Trubar protein bars sold by its subsidiary, Tru Brands Inc., to a growing list of major retailers and through on-line channels across North America. Proceeds will also be used for general corporate and working capital purposes.

The private placement is being conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 -- Prospectus Exemptions. As a result, the securities issued under the private placement will not be subject to resale restrictions pursuant to applicable Canadian securities laws. Subject to applicable regulatory requirements, the units will be offered for sale to purchasers resident in Canada (other than Quebec) and other qualifying jurisdictions.

Closing of the private placement is expected to occur on or about May 6, 2024, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the conditional approval from the TSX Venture Exchange. The company may engage one or more agents or finders in connection with the private placement and may pay such parties fees as may be agreed between the company and such parties.

There is an amended and restated offering document relating to the private placement of the units that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read the offering document before making an investment decision.

About Simply Better Brands Corp.

Simply Better Brands leads an international omnichannel platform with diversified assets in the emerging plant-based and holistic wellness consumer product categories. The company's mission is focused on leading innovation for the informed Millennial and Generation Z generations in the rapidly growing plant-based wellness, natural and clean ingredient space. The company continues to focus on expansion into high-growth consumer product categories including plant-based food, clean ingredient skin care and plant-based wellness.

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