Mr. Paul Kania reports

SOL GLOBAL PROVIDES UPDATE ON STATUS OF FINANCIAL STATEMENTS

SOL Global Investments Corp. has provided an update to its previously announced management cease trade order (the MCTO) granted by the Ontario Securities Commission (the OSC) under National Policy 12-203 -- Management Cease Trade Orders.

Pursuant to the MCTO, the corporation's acting interim chief executive officer, and the corporation's chief financial officer, Paul Kania, may not trade in securities of the corporation until such time as the corporation files its annual audited financial statements, annual management's discussion and analysis and related certifications for the year ended Nov. 30, 2022 (collectively, the required documents), and the OSC revokes the MCTO.

The MCTO does not affect the ability of other shareholders to trade their securities.

The corporation has not yet filed the required documents, however SOL Global is working diligently with its auditor and expects that the required documents will be filed by May 1, 2023. The company will issue a press release advising when the required documents have been filed.

The delay in filing the required documents is in connection with audit delays related to recent changes in management for the corporation and the additional steps required for third party valuations needed for audit purposes.

SOL Global also confirms that it intends to satisfy the provisions of NP 12-203 and issue biweekly default status reports for so long as they remain in default of the financial statement filing requirement, containing any material changes to the information in this release, all actions taken by SOL Global to remedy the default, particulars of any failure by the corporation to fulfill these provisions, any subsequent defaults of SOL Global requiring a default announcement and any other material information concerning the affairs of the corporation not previously disclosed.

We seek Safe Harbor.