Mr. Robert Eadie reports

YELLOW STEM ANNOUNCES NAME CHANGE AND CORPORATE UPDATE

Yellow Stem Tech Inc. has provided an update on corporate events.

Name change

As disclosed in the company's news release of May 15, 2023, the company's name change from Yellow Stem Tech to Sweet Poison Spirits Inc. will be effective on June 1, 2023. The company's trading symbol will change to SPS and the new Cusip number for the company's common shares will be 87043J104.

Business update

The name change is a result of the company rebranding itself and all its affiliated businesses. Principally the company will be operating under its product distribution agreement with Sweet Poison Spirits S de RL de CV, a Mexican company headquartered in Guadalajara, Mexico, and Sweet Poison Spirits LLC, a California limited liability corporation headquartered in San Diego, Calif., to distribute Sweet Poison's premium tequila and mezcal products under the Sweet Poison brand names. For details of the distribution agreement and the related industry, please see the company's listing statement dated March 27, 2023, as filed on SEDAR and the Canadian Securities Exchange website. Please also refer to the company's news release of May 15, 2023, which sets out terms of amendments to the distribution agreement. The listing statement is being reviewed by the CSE, and so is subject to change. Any material changes will be outlined in a subsequent news release and reflected in a revised listing statement.

While distributing Sweet Poison spirits under the distribution agreement will be the company's primary focus in the next 12 months, the company continues to monitor the pricing of cryptocurrencies, with a view to restarting its mining operations should they again become profitable. As noted in prior disclosure, the company ceased mining cryptocurrency shortly after acquiring its mining rigs due to a material decline in cryptocurrency prices. Similarly, while the company is not presently carrying any activities in the hemp growing and product manufacturing business, the company may reinitiate such business under the Sweet Poison brand, should that industry again look profitable.

The company intends to investigate new and alternative businesses that are complementary to management's skills and expertise, all of which will be operated under the Sweet Poison brand.

Private placement

As previously announced (see news release of May 15, 2023), the company has arranged a non-brokered private placement of up to $1-million through the issuance of up to 10 million units at a price of 10 cents per unit. Funds will be used primarily to acquire inventory from Sweet Poison, to arrange new distribution agents, and for marketing costs associated with distributing the Sweet Poison tequila and mezcal products.

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