Eat Well Investment Group Inc. Issues Units Upon the Deemed Exercise of Special Warrants and Withdraws Preliminary Prospectus

Eat Well Investment Group Inc. (CSE: EWG) (US:EWGFF) (FSE: 6BC0) (“Eat Well” or the “Company”) is pleased to announce that the special warrants of the Company (the “Special Warrants”), issued on December 23, 2021 in connection with the Company’s best-efforts private placement of Special Warrants, were deemed to be exercised on April 25, 2022 into an aggregate of 10,403,999 units (each a “Unit”), consisting of 10,403,999 common shares in the capital of the Company (“Common Shares”) and 5,201,999 Common Share purchase warrants (“Warrants”).

In accordance with the terms of a special warrant indenture dated December 23, 2021 between the Company and Computershare Trust Company of Canada (“Computershare”), 9,272,727 Special Warrants automatically converted into 1.122 Units per each Special Warrant for a total of 10,403,999 Units. Each Unit consists of one Common Share and one-half of one Warrant. The Warrants are issuable pursuant to a warrant indenture, dated December 23, 2021, between the Company and Computershare, as amended from time to time. Each Warrant entitles the holder thereof to purchase one Common Share at a price of $0.75 until December 23, 2024.

The Company has received approval from the Canadian Securities Exchange (the “CSE”) to list the Warrants on the CSE. The Warrants are expected to commence trading under the ticker symbol “EWG.WT” on April 26, 2022.

As a result of the deemed exercise of the Special Warrants, the Company issued a notice of withdrawal to the British Columbia Securities Commission, withdrawing the preliminary short form prospectus dated February 24, 2022 and filed on SEDAR in connection with qualifying the distribution of the Units.

About Eat Well

Eat Well is a publicly-traded investment company primarily focused on high-growth companies in the agribusiness, food tech, plant-based and ESG (environmental, social and governance) sectors. Eat Well’s management team has an extensive record of sourcing, financing and building successful companies across a broad range of industries and maintains a current investment mandate on the health/wellness industry. The team has financed and invested in early-stage venture companies for greater than 25 years, resulting in unparalleled access to deal flow and the ability to construct a portfolio of opportunistic investments intended to generate superior risk-adjusted returns.

Disclaimer for Forward-Looking Statements

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable Canadian and United States securities legislation (collectively “forward-looking statements”). Forward-looking information are often, but not always, identified by the use of words such as “seek,” “anticipate,” “believe,” “plan,” “estimate,” “expect,” “likely” and “intend” and statements that an event or result “may,” “will,” “should,” “could” or “might” occur or be achieved and other similar expressions. These forward-looking statements include, but are not limited to, the listing of the Warrants on the CSE and the timing thereof. Such forward-looking statements should not be unduly relied upon. Forward-looking information is based on assumptions that may prove to be incorrect. The Company considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those expressed or implied in the forward-looking information. For more information on the Company, its investee companies and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

The CSE has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.

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