Mr. Maciej Lis reports

THE GUMMY PROJECT ANNOUNCES CLOSE OF PRIVATE PLACEMENTS AN AGGREGATE OF $361,366

The Gummy Project Inc. has closed a private placement financing of 6,142,550 units of the company at a price of 1.8 cents per unit for aggregate gross proceeds of $110,566 and a concurrent placement (as defined below) of units at a price of 1.8 cents per unit for aggregate gross proceeds of $250,800.

Each unit comprises one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional common share at a price of five cents per common share for a period of two years following the closing date of the offering, subject to accelerated expiry as described herein. If, at any time, the closing price of the company's common shares is greater than 15 cents per common share for 10 consecutive days, including days where there is no trading, the company may provide written notice to the holders that the expiry of the warrants shall be accelerated to a date that is not less than 30 days from the date of the warrant acceleration notice. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions, the units (other than the placement units (as defined below)) were offered for sale to purchasers resident in Canada, except Quebec, and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. Because the offering was completed pursuant to the listed issuer financing exemption, the securities issued in the offering will not be subject to a hold period pursuant to applicable Canadian securities laws.

In addition to the offering, the company completed a concurrent private placement of 15,933,334 units pursuant to applicable exemptions under NI 45-106 for aggregate gross proceeds of $250,800. The placement units are subject to a four-month-and-one-day hold period following the closing date.

Each placement unit consists of one common share and one common share purchase warrant exercisable for two years following the closing date at five cents per warrant share. If, at any time, the closing price of the company's common shares is greater than 15 cents per common share for 10 consecutive days, including days where there is no trading, the company may provide a warrant acceleration notice to the holders that the expiry of the warrants shall be accelerated to a date that is not less than 30 days from the date of the warrant acceleration notice.

In connection with the closing of the private placement, the company paid finders' fees of $4,032 in cash and issued 224,000 finders' warrants. The finders' warrants have the same terms of the warrants issued as part of the units.

The company also announces it has entered into an agreement with a former officer and director of the company, whereby the company has agreed to issue two million common shares in the capital of the company to settle $132,500 of outstanding debt.

The company intends to use net proceeds of the offering for digital advertising campaigns to drive awareness to the company's e-commerce site, to engage consultancy services to develop the company's branded Amazon store, for working capital requirements and for other general corporate purposes.

We seek Safe Harbor.