Mr. Simon Castonguay reports

LUMIERA HEALTH FILES NEW NPN APPLICATION WITH HEALTH CANADA TO EXTEND AWAYE PAIN RELIEF PRODUCT LINE

Lumiera Health Inc. has filed for a new NPN (product licence application) application with Health Canada as it prepares to extend its Awaye Pain Relief product line. The new product, Awaye Sport with menthol, will cater to pain sufferers looking for a cooling relief effect, which represents an additional consumer segment for the Awaye brand. This also represents the first innovation in Awaye's planned development pipeline.

"Awaye pain relief cream has been a tremendous success since its launch in April of last year, we're confident that Awaye Sport with menthol, with its cooling effect rather than the heating effect in the original formula, will be able to capture some significant market share in the category," says Carlos Ponce, chief executive officer of Lumiera. "Assuming all is well with our filling, we look forward to launching Awaye Sport in Q4 2022 on-line and with a retail launch Q1 2023."

All natural health products sold in Canada must have a product licence issued by Health Canada before they can be commercialized. Licence applicants must provide detailed information about the product, including medicinal ingredients, potency, non-medicinal ingredients and recommended use. Once Health Canada determines the product is safe and effective, it issues a natural product number (NPN), which lets the public know the product has been reviewed and approved.

Additional debt to support growth

The company is also pleased to announce it has entered into an agreement with an important shareholder, Robert Brouillette, through his holding company, Fiducie La Maison Bleue, for an unsecured convertible loan in the principal amount of $150,000. The proceeds from the loan will be used for G&A (general and administrative) and to continue accelerating growth. The loan has a one-year term and bears interest at a rate of 12 per cent per annum. This loan is a vote of confidence from a long-standing and important shareholder who wants to help the company to continue its accelerated growth plan. Mr. Brouillette currently owns or controls, directly and indirectly, an aggregate of 29,177,058 common shares, representing 17.2 per cent of the currently issued and outstanding common shares of Lumiera.

The loan is convertible into an aggregate of three million units at a price of five cents per unit. At any time during the term of the loan, the lender may elect to convert the principal amount and any accrued and unpaid interest of the loan into units. Each unit will consist of one common share in the capital of the company and one common share purchase warrant, with each warrant entitling the holder to acquire one additional common share, at an exercise price of five cents per share, for a period of one year.

Pursuant to Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions), the loan constitutes a related-party transaction as a 10-per-cent shareholder of the company is the lender and may convert the loan into the units. The company is relying on exemptions from the formal valuation and minority approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the loan by the related party exceeds 25 per cent of the company's market capitalization (as determined under MI 61-101). The loan was approved by all of the independent directors of the company.

The new loan is subject to certain standard closing conditions including, but not limited to, the receipt of all necessary approvals, including the acceptance of the TSX Venture Exchange.

About Lumiera Health Inc.

Lumiera specializes in the development and commercialization of consumer products for the natural health industry. The company sells herbal tonics and natural supplements through its Holizen Laboratories division, with a diverse portfolio including a line of innovative sleep aids. The company is also commercializing a unique topical product line acting on the endocannabinoid system, without the use of cannabis, that provides an innovative solution for chronic pain and inflammation. A pioneer in the natural health innovation space, the Lumiera brand is rooted in the core values of science, nature and compassion. Its goal is to make people's lives better by developing natural health and wellness products that are effective, safe and trustworthy.

We seek Safe Harbor.