Pure Extracts Enters Agreement to Acquire PL Healthcare Management - Seite 2

"The PLM team is looking forward to working with Pure Extracts toward strategic development of their business lines and create increasing value for shareholders of both companies," said Shaun Good, the Chief Executive Officer of PLM.

Ben Nikolaevsky, the Chief Executive Officer and a director of the Company, commented "The combination of the two organizations allows for a synergistic portfolio of products and our ability to reach new segments in the rapidly expanding segment of healthcare and cannabis."

Subject to their prior resignation in connection with the Bridge Financing (as defined below), following the completion of the Transaction, and in accordance with the terms of the Definitive Agreement, Ben Nikolaevsky will step down as Chief Executive Officer and a director of the Company and Yana Popova, Sean Bromley and Dwight Duncan will resign from the board of directors of the Company. Shaun Good will be appointed as Chief Executive Officer and a director of the Company and Gerry Abday will be appointed as President and a director of the Company.

The Company also announces a proposed bridge financing (the "Bridge Financing") pursuant to which PLM would advance funds to the Company prior to the completion of the Transaction. The proceeds of the Bridge Financing would be used to permit the Company to execute larger volumes of purchase orders. If completed, a condition of the first advance under the Bridge Financing would be the resignation of up to three (3) existing directors of the Company and their concurrent replacement with three (3) nominees of PLM. It is anticipated that the first advance under the Bridge Financing would be made on or about May 31, 2023.

Shaun Good has a diverse background in various industries and has demonstrated his leadership and entrepreneurial spirit throughout his career. After founding a successful construction company, he transitioned into a career with a major financial company. Responding to his clients' growing interest in investment opportunities, Shaun entered the cannabis industry in 2017. As the founder of four companies in BC, one of which focuses on the research and development of cannabis cultivars and terpenoids for the medical industry, Shaun demonstrates his relentless pursuit of innovation and commitment to helping others succeed.