Mr. Conor Power reports

VEGANO SIGNS NON-BINDING LETTER OF INTENT FOR ACQUISITION OF RUDDER SUPPLEMENTS

Vegano Foods Inc. has signed a non-binding letter of intent with Rudder Supplements Corp. to acquire 100 per cent of the issued and outstanding shares of Rudder. The transaction is currently contemplated to proceed by way of a share purchase, share exchange, amalgamation or other similar type of transaction, pursuant to which shareholders of Rudder will exchange all of their shares of Rudder in consideration for an aggregate of 10 million common shares of the company. The final structure of the transaction will be determined by the parties based on corporate, tax, securities and other legal considerations.

The closing of the transaction is subject to Canadian Securities Exchange approval, the parties negotiating and executing definitive binding documentation, the satisfactory completion of due diligence by the company, and the receipt of all other necessary consents and approvals, among other conditions that are typical for a transaction of this nature. If a definitive agreement is signed, the transaction is expected to close within the next 30 days.

There can be no assurance that the definitive documentation will be negotiated and signed or that the transaction will be competed as proposed or at all.

About Rudder Supplements Corp.

Rudder is a privately held company incorporated in British Columbia in 2020. Rudder produces and distributes health supplements and beverages through a combination of direct-to-consumer sales and distribution partnerships.

About Vegano Foods Inc.

Vegano is a 100-per-cent-plant-based on-line marketplace company operating in Vancouver. Founded in March of 2020, Vegano helps make healthy plant-based eating more accessible to Canadians, allowing them to take veganism beyond meatless Mondays and Veganuary. Vegano sources high-quality products to make for easy plant-based shopping all on one website.

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