Mr. Tom Kusumoto reports

GREENRISE PROVIDES MCTO STATUS UPDATE

Greenrise Global Brands Inc. has provided its third default status report in accordance with the alternative information guidelines set out in National Policy 12-203 - Management Cease Trade Orders.

As previously announced on May 2, May 16 and May 30, 2023 (together, the default announcement), the company was granted a management cease trade order (the MCTO) by the British Columbia Securities Commission due to a delay in filing the company's annual financial statements, management's discussion and analysis, and related officer certifications for the financial year ended Dec. 31, 2022.

In addition to the late filing of the required documents, the company has not filed its annual information form for the year ended Dec. 31, 2022, interim financial statements, management's discussion and analysis, and related certifications the three-month financial period ended March 31, 2023. The company expects to file the additional disclosure documents concurrently with the filing of the required documents as soon as it obtained the necessary approvals, subject to further unforeseen delays.

Greenrise expects to file the annual filings on or before June 30, 2023, and will issue a news release announcing completion of such filings at such time.

Until the company files the annual filings, it will comply with the alternative information guidelines set out in National Policy 12-203. The guidelines, among other things, require the company to issue biweekly default status reports by way of a news release and the company's chief executive officer and chief financial officer will not be able to trade in the company's shares. During the MCTO, the general investing public will continue to be able to trade in the company's listed common shares.

About Greenrise Global Brands Inc.

Greenrise is a Canadian publicly traded investment holding company.

We seek Safe Harbor.