Ms. Cheryl Grant reports

VITALITY ANNOUNCES THIRD QUARTER RESULTS

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

The financial results of the company for the three months ended Oct. 31, 2023, show a net loss of $21,025, or nil per share, compared with a net loss of $81,386, or nil per share, for the same period last year. Sales for the three months ended Oct. 31, 2023, of the company's premium natural health products increased 1 per cent to $231,816 (2022: $230,727).

The company's general selling expenses decreased to $40,870 (2022: $56,521). Selling fees decreased to $8,387 (2022: $17,784) as the company discontinued the outsourcing of its distribution and warehousing. The company's general and administrative expenses for the three months ended Oct. 31, 2023, decreased to $141,960 (2022: $199,041) as wages and salary decreased to $90,664 (2022: $97,144) and consulting fees decreased to $6,803 (2022: $46,415). 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 growing sales nationally.

Vitality has 13 natural health products (encompassing 25 stock-keeping units ) sold in Canada, including Vitality Power Iron + Organic Spirulina. Vitality has won seven industry awards that 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 U.S. Food and Drug Administration (FDA) for sale in the United States.

The company's condensed interim financial statements and management discussion and analysis for the nine months ended Oct. 31, 2023, and Oct. 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 are 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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