Mr. Charlie Lamb reports

THE GUMMY PROJECT ANNOUNCES WARRANT REPRICING

The Gummy Project Inc. intends to extend the expiry date of 3,527,200 common share purchase warrants by 12 months to Feb. 22, 2024. These common share purchase warrants were issued pursuant to a private placement which closed on Feb. 22, 2021, and entitle the holders thereof to acquire one common share of the company at a price of five cents.

Insiders of the company hold 115,106 of the 3,527,200 warrants in the proposed amendments representing 3.26 per cent. A portion of the amended warrants are held by parties who are considered to be related parties of the company. Therefore, the amendment the warrants constitutes a related party transaction as contemplated by Multilateral Instrument 61-101 -- Protection of Minority Shareholders in Special Transactions. However, the exemptions from formal valuation and minority approval requirements provided for by these guidelines can be relied upon as the fair market value of the warrants does not exceeds 25 per cent of the market capitalization of the company.

The company believes that the extension of the warrants is reasonable and necessary in the context of the overall market, as it increases the likelihood that any additional cash needs of the company could be financed through the exercise of the warrants.

About The Gummy Project Inc.

The Gummy Project is a growing community of individuals and organizations which believe small contributions can add up to something big. The company sells low-sugar, plant-based gummy products while raising money (and awareness) to support endangered keystone species. The Gummy Project is the only better-for-you candy company that is built to support the planet's most precious species and ecosystems, while educating future generations on the steps to take today, to ensure a viable tomorrow.