Ms. Cheryl Grant reports

VITALITY ANNOUNCES SECOND QUARTER RESULTS

Vitality Products Inc. has released its financial results for the second quarter ended July 31, 2023.

The financial results of the company for the three months ended July 31, 2023, show a net loss of $102,246 or one cent per share compared with a net loss of $179,760 or one cent per share for the same period last year. Sales for the three months ended July 31, 2023, of the company's premium natural health products decreased 1 per cent to $188,634 (2022: $190,581).

The company's general selling expenses decreased to $49,571 (2022: $66,261). Selling fees decreased to $8,145 (2022: $21,241) as the company discontinued the outsourcing of its distribution and warehousing. The company's general and administrative expenses for the three months ended July 31, 2023, decreased to $184,154 (2022: $245,629) as wages and salary decreased to $90,953 (2022: $100,670) and consulting fees decreased to $18,407 (2022: $46,414) . The company continues 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 sales nationally.

Vitality has 13 natural health products (encompassing 25 SKUs) sold in Canada including Vitality Power Iron + Organic Spirulina. Vitality has won seven industry awards, which recognize outstanding product innovation for Power Iron + Organic Spirulina, including one award from Clean Choice Awards and six alive awards. The company has filed all 13 natural health products with the Food and Drug Administration for sale in the United States.

The company's condensed interim financial statements and management's discussion and analysis for the six months ended July 31, 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-genetically modified 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 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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