Ms. Cheryl Grant reports

VITALITY ANNOUNCES FIRST QUARTER RESULTS

Vitality Products Inc. has released its financial results for the first quarter ended April 30, 2023.

The financial results of the company for the three months ended April 30, 2023 show a net loss of $115,747 or zero cents per share compared with a net loss of $158,425 or zero cents per share for the same period last year. Sales for the three months ended April 30, 2023, of the company's premium natural health products decreased 21 per cent to $195,069 (2022 -- $245,713). Revenues decreased due to a decline in sales directly to Canadian natural health retailers.

The company's general selling expenses decreased to $77,591 (2022 -- $130,499). Selling fees decreased to $7,882 (2022 -- $28,149) as the company discontinued the outsourcing of its distribution and warehousing. The company's general and administrative expenses for the three months ended April 30, 2023, decreased to $176,595 (2022 -- $205,201) as wages and salary decreased to $95,759 (2022 -- $128,685). The company continues its effort to improve overall operating efficiencies while remaining focused on the launch of its complete line of products in the United States and expanding distribution and growing sales nationally.

Vitality exhibited at CHFA NOW in April, 2023, in Vancouver, Canada, where Vitality was nominated for three industry awards including: Women of Influence for Cheryl Grant, president and chief executive officer, Brand Impact Award and Marketing Award. Vitality met with current and prospect retailers at the CHFA NOW show, one of Canada's largest industry tradeshows, to reconnect with established retailers and meet prospect retailers and on-line sellers.

In March, 2023, Vitality promoted its award-winning line of vitamins and supplements to United States retailers at Natural Products Expo West -- the industry's largest U.S. tradeshow. Vitality exhibited its products in its own 10-foot-by-20-foot booth in the Supplements Hall at the Anaheim Convention Centre on March 9 to March 11, 2023. The U.S. tradeshow occurred shortly after Vitality was included in Natural Products Canada's report Game Changers: Leading companies Powered by Women, a new list of 100 companies that provides an interesting look at the women leading Canada's growing natural and bio-based industries.

The company's condensed interim financial statements and management's discussion and analysis for the three months ended April 30, 2023, and 2022 are available on the SEDAR website.

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.

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