Mr. Yoav Bar-Joseph reports

CANNIBBLE FOODTECH LTD. ANNOUNCES PRIVATE PLACMENT OF CONVERTIBLE NOTES AND WARRANTS

Cannibble Food-Tech Ltd. intends to complete a non-brokered private placement of up to $250,000 (U.S.) ($350,875) aggregate principal amount of convertible notes, together with common share purchase warrants.

Each unit will comprise: (i) $1,000 (U.S.) ($1,403.50 (Canadian)) principal amount in convertible notes; and (ii) warrants exercisable into common shares in the capital of Cannibble in such number as is equivalent to 50 per cent of the principal amount of the convertible notes. The convertible notes will bear interest at a rate of 15 per cent per annum, mature 12 months from the date of issuance and be convertible into common shares at a price of one cent per common share. The warrants will be exercisable at a price of five cents per common share for a period of five years from the date of issuance.

In the event that the trading price of the common shares exceeds 25 cents at any time prior to the maturity date of the convertible notes, the company will be able, at its option, to: (i) force conversion of any outstanding balance under the convertible notes into common shares; or (ii) buy back from the holders the outstanding balance under the convertible notes (inclusive of principal and unpaid accrued interest) at two times such amount at that time.

Without the consent of a holder, any issuance by the company of common shares issuable on conversion of the convertible notes or exercise of the warrants will not be effective if the issuance of common shares would result in the holder (and any person acting in combination or in concert with the holder) holding greater than 9.99 per cent of the outstanding common shares after giving effect to the issuance of such common shares and the convertible or exercise of any other securities convertible into or exercisable for common shares beneficially owned (directly or indirectly) by the holder.

The proceeds from the private placement are expected to be used to settle outstanding debts owed to suppliers and for working capital. No commissions, broker fees or related party transactions are expected to be involved in this placement.

All securities issued in connection with the private placement will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.

About Cannibble Food-Tech Ltd.

Cannibble is an innovative food tech company that develops food and beverage products variously enhanced with alternative proteins. Cannibble has developed proprietary powder-based formulas for food and beverage products targeted for the better-for-you segment. The products are sugar-free, dairy-free, plant based, non-GMO (genetically modified organism), keto friendly and marketed under Cannibble's brand name, The Pelicann.

We seek Safe Harbor.