Ms. Cheryl Grant reports

VITALITY ANNOUNCES FOURTH QUARTER AND YEAR END RESULTS

Vitality Products Inc. has released its financial results for the fourth quarter and the fiscal year ending Jan. 31, 2023.

The financial results of the company for its year ended Jan. 31, 2023, show a net loss of $537,265 or one cent per share, compared with a net loss of $616,638 or two cents per share for the same period last year. Sales for the year ended Jan. 31, 2023, of the company's premium natural health products decreased 4 per cent to $826,580 (2022 -- $860,258). Revenues decreased for the first time in fiscal 2023 since the company launched Vitality's line of vitamins and supplements in September, 2013, due to a small decrease in sales directly to Canadian natural health retailers.

The company's general and administrative expenses decreased to $824,938 (2022 -- $909,708) as wages and salary decreased to $418,215 (2022 -- $588,660) and the company continues its effort to improve overall operating efficiencies. The company's general selling expenses decreased to $309,659 (2022 -- $318,813) as the company focused on the launch of its complete line of products in the United States, as well as expanding distribution and growing sales nationally.

The financial results of the company for the three months ended Jan. 31, 2023, show a net loss of $117,694 or nil per share, compared with a net loss of $127,740 or one cent per share for the same period last year. Sales for the three months ended Jan. 31, 2023, decreased 34 per cent to $159,559 (2022 -- $241,511). The company's general and administrative expenses for the three months ended Jan. 31, 2023, decreased to $175,067 (2022 -- $181,010) as wages and salary decreased to $91,716 (2022 -- $139,323). The company's general selling expenses decreased to $56,378 (2022 -- $109,529).

The company's audited financial statements and management's discussion and analysis for the years ended Jan. 31, 2023, and Jan. 31, 2022, are available on SEDAR.

About Vitality Products Inc.

Vitality is an award-winning line of clean vitamins and supplements, marketed to natural health retailers and health-and-wellness-conscious consumers. Manufactured locally in British Columbia, Canada, and currently sold in 600 natural health stores and on-line, the products are non-GMO (genetically modified organism) and third party tested. Following the proven success of the line through repeat orders and same-store sales growth, the company is focused on: expanding distribution and growing sales in store and on-line; evaluating, researching and developing new products for future distribution; and exploring new markets for its products.

We seek Safe Harbor.