Mr. Karl Kottmeier reports

CHEMISTREE DIRECTORS RATIFY DEBENTURE RESTRUCTURING

Chemistree Technology Inc.'s board of directors has approved a restructuring transaction, pursuant to which all of the principal of the outstanding 10 per cent senior unsecured convertible debentures of the company will be settled and all claims of the holders of the debentures thereunder will be extinguished in exchange for common shares in the capital of the company. Debentureholders approved the restructuring transaction at an extraordinary meeting of debentureholders held on April 26, 2024.

Pursuant to the restructuring transaction, the company intends to issue an aggregate of 666.8 million common shares at a price of one cent per common share to debentureholders (unless earlier redeemed in accordance with their terms). Following the closing of the restructuring transaction, the debentureholders will hold common shares, representing approximately 90.3 per cent of the outstanding common shares, representing 100,000 common shares issued for every $1,000 in principal amount of debentures held. The company anticipates that the restructuring transaction will become effective on or about May 9, 2024, although the board has retained the discretion, without further notice to or approval from the debentureholders, to revoke any part of the restructuring resolution at any time prior to the company completing the restructuring transaction.

The issuance of the common shares in connection with the restructuring transaction will result in the issuance of more than 100 per cent of the current number of issued and outstanding common shares. The listings committee of the Canadian Securities Exchange has approved the company's reliance on an exception from the shareholder approval requirements in Section 4.6(2) of CSE Policy 4 (Corporate Governance, Security Holder Approvals and Miscellaneous Provisions) on the basis that the company is in serious financial difficulty and the independent directors of the board determined that the restructuring transaction is in the best interest of the company and is reasonable in the circumstances and that it is not feasible to obtain shareholder approval of the restructuring transaction. The listings committee of the CSE has also waived the application of the insider participation restrictions under Section 4.6(2)(b)(iii) of CSE Policy 4 in connection with the restructuring transaction. Accordingly, the company will not seek shareholder approval for the restructuring transaction.

About Chemistree Technology Inc.

Chemistree is a Canadian investment company whose strategy is to focus on opportunistic investments across a broad range of industries, and is seeking to invest in early-stage, promising companies where it may be the lead investor and can additionally provide investees with advisory services, mentoring and access to the company's management expertise. Existing holdings are in a consumer-targeted biotechnology venture, a renewable energy developer in the wind and solar sector, a plant-based wellness company and an Ontario limited partnership to take advantage of opportunistic long/short equity opportunities in both potential upside and downside expected price moves.

We seek Safe Harbor.