Levitee Labs Provides Company Update Following CSE Listing

CANNANNEW REPORT

VANCOUVER, BC, July 22, 2021 /CNW/ – Levitee Labs Inc. (CSE: LVT) (the “Company” or “Levitee”) is pleased to provide insight into the Company’s achievements to date, current operations, and strategic initiatives. Levitee has ambitious plans to advance its business following its recent successful listing on the Canadian Securities Exchange. A review of the Company’s recent achievements and current business is as follows: On July 14th, 2021, Levitee launched its premium mushroom supplement blends MONKE into the North American market on major eCommerce platforms, including Amazon The Company has completed construction of its Sporeo Supply facility, which manufactures and sells sterilized grain and substrate for mushroom cultivation, reducing the current supply backlog for mushroom growing feedstock A master distribution agreement has been signed with My Green Planet, a leading global agricultural supply group, giving Sporeo access to approximately 7,000 retailers across North America, Australia, and Europe. The master distribution agreement provides for a combined monthly minimum pre-order amount of 150,000 units of sterilized grain and substrate Levitee has executed letters of intent for the acquisition of a number of businesses, which include: Six addiction clinics; Three specialized pharmacies; A telemedicine platform; An omnichannel superfood and supplement brand; A functional mushroom-based tea company; And a late stage applicate for a Controlled Drugs and Substances Act (CDSA) licence from Health Canada. The Company is progressing through due diligence and negotiation of definitive documentation with respect to each of these transactions Levitee has a well capitalized balance sheet with sufficient working capital to execute on future acquisitions, as well as ongoing business initiatives These milestones are part of the first phase of the Company’s model to de-risk and support growth by internally developing and acquiring cash-flowing business that are complementary to the psychedelic industry. As regulations develop, the next phase of the Company’s strategy…

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