Mr. Ricky Goraya reports

VEGANO GRANTED VOLUNTARY MANAGEMENT CEASE TRADE ORDER

Vegano Foods Inc. has been granted a voluntary management cease trade order in accordance with National Policy 12-203 due to it not being able to file its annual financial statements and management's discussion and analysis (MD&A) for the year ended March 31, 2023, on SEDAR within 120 days of its financial year-end. The management cease trade order has been granted by the company's principal regulator, the British Columbia Securities Commission.

The company concluded that it would not be in a position to complete the year-end audit within the time periods required by National Instrument 51-102 due to a change of the company's auditor. As a result, the company requires additional time to file its annual financial statements and MD&A for the financial year ended March 31, 2023. The company has appointed MNP LLP to audit the annual financial statements for the year ended March 31, 2023, and to act as auditor until the next annual general meeting of the company's shareholders. The company will soon provide further details in a reporting package regarding the auditor's appointment in accordance with Section 4.11 of National Instrument 51-102.

The company expects to file its annual financial statements and MD&A (management's discussion and analysis) for the year ended March 31, 2023, as soon as they are available, but in any event no later than Sept. 29, 2023, and will issue a news release once they have been filed. The company intends to satisfy the provisions of the alternative information guidelines of National Policy 12-203, by issuing biweekly default status reports, in the form of news releases, until the revocation of the management cease trade order. The company is not subject to any insolvency proceedings. The management cease trade order will prohibit the chief executive officer and the chief financial officer of the company from trading in securities of the company for so long as the annual financial statements and MD&A are not filed. The issuance of the management cease trade order does not affect the ability of persons other than the chief executive officer and the chief financial officer of the company to trade in the company's securities.

About Vegano Foods Inc.

Vegano Foods is a 100-per-cent plant-based online 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.

We seek Safe Harbor.