NewLeaf Brands Provides an Update to its Shareholders on Recent Corporate Developments and Shares a Positive Outlook

VANCOUVER, British Columbia, May 28, 2020 /PRNewswire/ -- NewLeaf Brands Inc. (CSE: NLB) (OTC: NLBIF) (FSE: 0NF) ("NewLeaf Brands" or the "Company") a parent company operating innovative product divisions in the Naturally Sourced Therapies (NST) space, is delighted to provide its shareholders with a review of the recent milestones the Company has reached.

On April 9th, NewLeaf Brands' wholly-owned subsidiary, We Are Kured, LLC ("Kured") had launched its new CBD flower pre-rolled joints. The response from consumers was swift and overwhelmingly positive, with the Company now expecting to expand its distribution footprint within the United States to keep up with the high consumer demand.

Subsequently, on April 23rd, NewLeaf Brands had signed a share swap agreement with Levee Street Holdings, LLC ("Levee Street") to purchase 50% of Levee Street for CAD $450,000 in common shares. Greg Kassanoff founded Levee Street to infiltrate the "alternative" beverage space, which includes CBD products and is the founder of Levee Street Holdings, LLC, Pioneer Wine & Spirits, LLC, & CEO of Mexcor Pioneer Wine & Spirits ("MPWS"). The latter, MPWS, has thousands of existing retail and restaurant relationships throughout the state of Texas with infrastructure to support various distribution efforts. Overall, Mr. Kassanoff's vast network of accounts and relationships have been instrumental in deploying NewLeaf Brands' suite of products into accounts all over the state of Texas and the Company expects to provide shareholders with further exciting updates in the very near future.

As the Company continues to seek novel routes for growth, Joshua Bartch, CEO of NewLeaf Brands said, "The whole team has been working around the clock to become a market leader in the various sectors the Company operates in, including the mushroom, hemp and cannabis space, and with our recent successes, we believe it's time to review these updates with our dedicated shareholders."

On April 29th, NewLeaf Brands had signed a definitive agreement to acquire Mydecine Group ("Mydecine"), a Colorado headquartered company. Mydecine is a vertically integrated company engaged to utilize the vast medicinal, health and wellness capabilities of the plethora of compounds found in various varieties of mushrooms and the overall many uses of fungi. Founded by Damon Michaels and Rob Roscow, the Company, through its three wholly-owned divisions, "Mydecine Farms", "Mydecine Wellness", and "Mydecine Labs" aims to be an industry pioneer in the cultivation, processing, product development, and research and development of the many beneficial and exciting compounds and other uses that are found in various varieties of fungi from all around the world. Thanks to the tireless efforts of the entire team, NewLeaf Brands expects to announce earth shattering updates on the progress of Mydecine Group in the near future.