• Purchase order of 1,000 kg for prompt delivery to support the growing demand for VINIA®
• Pipeline of 6 major customers testing VINIA® for inclusion in their final products
• Favorable terms of Purchase Order reflect the increasing value of the product and substantially contribute to BioHarvest’s top line

Vancouver, British Columbia and Rehovot, Israel–(Newsfile Corp. – July 7, 2022) – BioHarvest Sciences Inc. (CSE: BHSC) (OTC PINK: CNVCF) (FSE: 8MV) (“BioHarvest” or “the Company”) today announced that Batory Foods (Batory) has placed a purchase order for 1,000 kg of VINIA®, to be delivered by end of December 2022. Batory Foods (“Batory”), a leading food ingredients distributor in the USA, is one of the top three companies in the nutraceutical and food and beverage ingredient segments of the market. Batory is the exclusive B2B distributor of BioHarvest’s Nutraceuticals and expected Hemp based Cannabis products in the US.

In addition to the significant size of this purchase order, it also carries more favorable financial terms for BioHarvest in reflection of the higher B2B wholesale price of VINIA® in the market and reflects the willingness of end customers to pay higher pricing for VINIA® when utilizing VINIA® as a key ingredient in their respective products. The adoption of VINIA® by the US market is evidenced by the sales growth and projections described in the Company’s July 5^th, 2022, news release.

“Teaming up with BioHarvest Sciences from the get-go was a strategic diversification of our product portfolio to include on-trend and high-end functional ingredients” stated Vince Pinneri, President of Batory Foods. “We have identified major end customers who can appreciate the value of the scientific and clinical based Nutraceuticals from BioHarvest and are convinced of the prospects of integrating these into their offerings to consumers”.

VINIA® is now being designed and tested in multiple products by major US brands covering a wide gamut of applications such as coffee, tea, yoghurt, nutrition bars, and nutritional beverages.

Ilan Sobel, CEO of BHSC, commented “We made a sound decision in September 2020 to partner with Batory. This partnership reflected their vote of confidence in the scientifically and clinically proven advantages of BHSC’s technology and portfolio of unique products. Batory has been a great partner to help us drive the required disruption in the nutraceutical ingredients industry. This latest purchase order is just the beginning of what is a mutually beneficial long-term relationship and we look forward to partnering with Batory on our journey for VINIA® to be included as a strategic ingredient in major brands in the nutraceutical, and food & beverage industries. “

Q2 2022 Shareholder Update

BioHarvest invites all interested investors and media to the Q2 BioHarvest Shareholder Update at 2PM EST July 7^th, 2022. The online meeting will be hosted by CEO Ilan Sobel and will feature a live Q&A session. Free registration to the event is available here: Q2 2022 BioHarvest Sciences Inc. Shareholder Update | BioHarvest Sciences (livestorm.co)

About BioHarvest Sciences Inc.

BioHarvest Sciences Inc. (CSE: BHSC) is a fast-growing Biotech firm listed on the Canadian Securities Exchange. BioHarvest has developed a patented bio-cell growth platform technology capable of growing the active and beneficial ingredients in fruit and plants, at industrial scale, without the need to grow the plant itself. This technology is economical, ensures consistency, and avoids the negative environmental impacts associated with traditional agriculture. BioHarvest is currently focused on nutraceuticals and the medicinal cannabis markets. Visit: www.bioharvest.com.

BioHarvest Sciences Inc.
Ilan Sobel, Chief Executive Officer

For further information, please contact:
Dave Ryan, VP Investor Relations & Director
Phone: 1 (604) 622-1186
Email: [email protected]

Forward-Looking Statements

Information set forth in this news release includes forward-looking statements that are based on management’s current estimates, beliefs, intentions, and expectations, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. There is no assurance that strong sales metrics experienced to date will result in future demand or that proposed additional marketing expenditures will result in increased sales. Markets for nutraceuticals are unpredictable and subject to changes in consumer tastes and trends as well as economic factors beyond our control. Delays and cost overruns may result in delays achieving our objectives obtaining market acceptance, and regulatory approvals for geographic expansion is subject to risk and cannot be guaranteed. There is no assurance that our products will be integrated into products by major US brands as this will depend on successful testing by them of our products and any products which may integrate our products and the assessment of the potential market acceptance of such products which is uncertain. There is no assurance that the Company sales revenue for 2022 will reach USD 5 to 7 million and there is no assurance that the Company cash flow breaking point will be achieved in 2023. There is no assurance of commercial availability of our Cannabis product in 2022 or that the Company achieves the conversion of the two tons VINIA® facility to Cannabis production in 2022. These things are subject to construction and approval delays and uncertainties that may be beyond the control of BioHarvest. Projected sales of Cannabis will require the Company to obtain production and/or export licensing which cannot be assured.

All forward-looking statements are inherently uncertain and actual results may be affected by a number of material factors beyond our control. Readers should not place undue reliance on forward-looking statements. BHSC does not intend to update forward-looking statement disclosures other than through our regular management discussion and analysis disclosures.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

SANTA BARBARA, Calif., April 19, 2022 /PRNewswire/ — Bloomios, Inc. (OTCQB: BLMS), a leading hemp and nutraceutical manufacturer specializing in full service product development, R&D and compliance solutions, reported results for the fourth quarter and full year ended December 31, 2021. All comparisons are to the same year-ago period unless otherwise noted.

Q4 Financial Highlights

• Revenue increased 37% to $1.7 million.
• Gross profit increased 82% to $698,000.
• Gross margin improved from 32% to 42%.

Full Year 2021 Financial Highlights

• Revenue increased 545% to a record $8.5 million.
• Gross profit increased $3.4 million to a record $3.8 million.
• Gross margin improved from 31% to 45%.

Q4 Operational Highlights

• Expanded Bloomios’ product portfolio: now offering more than 80 turnkey or customizable white- and private-label product options across seven format categories, including edibles, such as sugar free gummies and tinctures, as well as pet treats, topicals, cosmetics, beverage and personal care products.
• To address growing demand, expanded manufacturing capacity and added additional manufacturing, packing and printing equipment.

Management Commentary

“Our exceptionally strong top-line growth for the fourth quarter and year reflects our rapid emergence as a premier manufacturer of hemp-derived cannabinoid products for humans and pets,” stated Bloomios CEO, Michael Hill. “This includes a full range of product options along with low minimum order quantities, rapid turnaround times and excellent customer service.

“Over the course of the last year, we dramatically expanded our product selection and broadened our base of white- and private-label customers, driven by the tremendous value we deliver. In fact, our product solutions are now relied upon by more than two hundred corporate customers across the U.S., from distributors and wholesalers to retailers and major brands.

“To meet the growing demand, we recently completed a major expansion of our manufacturing and fulfillment systems at our new state-of-the-art manufacturing facility in Daytona Beach, Florida. While the retooling process limited our production in the first quarter of this year, it has increased our manufacturing and delivery capacity by some 300%. We anticipate a return to sales ramping up fully during second quarter as we realize the benefits of our new equipment and facility expansion, and see strong growth in the second half of the year with new customer wins along with new and expanded product lines.

“We recently announced our entry into the fast-growing sports nutrition and performance market with an exclusive partnership with DRYWORLD, an exciting premium fitness brand. The partnership highlights our exceptional manufacturing process, premium packaging, and efficient in-house testing and sourcing solutions that are ideally suited to brands looking to take advantage of today’s booming market for hemp-derived products.

“We are planning to expand DRYWORLD’s initial lineup of hemp-derived CBD gel capsules, tinctures, powdered drinks, heat gels and pain-relief creams with other physical fitness products that include roll-ons and nutritional supplements.

“As another major milestone, we recently became a fully-reporting company traded on the OTCQB Venture Market. We believe this will elevate our public profile and provide greater liquidity to our broadening shareholder base. The listing represents a major step in our long-term market strategy designed to build shareholder value.

“To support our further growth in 2022, we are developing a new topicals and skincare line for the beauty market, which is the second largest CBD category in the U.S. We also working to soon launch additional products for the edible nutraceutical market, as well as introduce our own in-house brands for both the U.S. and international markets.

“These new products will be targeting a North American CBD market that is projected to grow at a 33% CAGR to reach $61.3 billion by 2027. The market for alternative cannabinoids is also expected to grow tremendously at a 20% CAGR to hit $26.2 billion by 2028.

“Given our expanded manufacturing capacity, which extends our ability to rapidly create and launch products into these high growth markets, we anticipate continued strong growth and market share expansion in 2022.

“To further accelerate growth and capture market share, we are also aggressively pursuing near-term acquisitions in what we see as a target-rich M&A environment.”

Q4 Financial Summary

Revenue in the fourth quarter of 2021 totaled $1.7 million, up 37% from $1.2 million in the same year-ago quarter.

Gross profit totaled $698,000 or 42% of revenue as compared to $384,000 or 32% in the same year-ago quarter. The increase in gross margin was primarily due to a shift in product mix to higher margin products.

Operating expenses increased 57% to $1.5 million compared to $961,000 in the same year-ago quarter.

Net loss totaled $579,000 compared to a net loss of $685,000 in the same year-ago period.

Cash and cash equivalents and short-term investments totaled $271,000 as of December 31, 2021, as compared to $72,000 on December 31, 2020.

Full Year 2021 Financial Summary

Revenue increased $7.2 million or 545% to $8.5 million in 2021 as compared to $1.3 million in 2020. The increase in revenue is primarily due to a full year of operation in 2021 after an acquisition was completed in the fourth quarter of 2020.

Gross profit was $3.8 million or 45% of revenue in 2021, compared to $402,000 or 31% of revenue in 2020.

Operating expenses increased 213% to $4.6 million in 2021 from $1.5 million in 2020. The increase in operating expense is largely attributable to an increase in salaries expense of $1.3 million and an increase in general and administrate expense of 787,000.

Net loss totaled $2.0 million or $(0.16) per share, as compared to a loss of $1.2 million or $(0.09) per share in 2020.

About Bloomios

Bloomios, Inc. manufactures, markets and distributes U.S. hemp-derived supplements and cosmetic products through wholesale distribution channels and its wholly owned subsidiary, Bloomios Private Label. The company provides custom formulation, brand development, manufacturing and order fulfillment to a wide variety of customers, including small and major brands, chain stores, vape shops and distributors. It offers private- and white-label customers a wide selection of more than 200 customizable hemp products across 12 categories. Bloomios is headquartered in Santa Barbara, California, with manufacturing and distribution in Daytona Beach, Florida. To learn more, visit bloomios.com

Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the sales of the company’s identity protection software products into various channels and market sectors, the issuance of the Company’s pending patent applications, COVID-19, and the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the company.

Investor Relations Contact:
Ronald Both or Justin Lumley
CMA Investor Relations
Tel (949) 432-7566
Email contact

Media Contact:
Tim Randall
CMA Media Relations
Tel (949) 432-7572
Email Contact

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.