Mr. Peter Kampian reports

DIONYMED RECEIVES NOTICE OF DEFAULT AND DEMAND FOR PAYMENT AND NOTICE OF INTENTION TO ENFORCE SECURITY

GLAS USA LLC and GLAS America LLC, as administrative agent and collateral agent under Dionymed Brands Inc.'s credit agreement dated Jan. 16, 2019 (as amended, supplemented or otherwise modified from time to time), respectively, have provided the company with notice of default under the credit agreement and demand for immediate payment of the amount of $24,810,682.80 (U.S.) plus any additional interest, fees and expenses. GLAS America has also concurrently provided the company with a notice of intention to enforce security under Section 244 of the Bankruptcy and Insolvency Act (Canada). GLAS America will not have the right to enforce its security over the company and its assets until the expiry of the 10-day period after the BIA notice was sent, unless the company consents to an earlier enforcement.

The company is reviewing and considering the demand notice and BIA notice and its options. It will continue to work co-operatively with its major lender toward reaching a restructuring solution for it to continue operating as a going concern for the benefit of its stakeholders. At present, there can be no assurance as to what, if any, alternatives might be pursued by the company, and there can be no assurance that the company will reach any solution with the company's lender, or as to the terms of any such solution, if achieved. Holders of the company's shares may face a loss of their investment as a result of a failure to reach a solution with the lender or as a result of a failure to reach a solution that includes holders of shares.

About Dionymed Brands Inc.

Founded in 2017, Dionymed Brands is a multistate cannabis brands platform, supporting cultivators, manufacturers and award-winning brands in the medical and adult-use cannabis markets. Dionymed sells branded products in every category, from flower to concentrates and edibles. Dionymed serves cannabis consumers through direct-to-consumer fulfilment and retail dispensary distribution with its growing portfolio of award-winning brands.