The Gummy Project Provides Corporate Update, Including Plans to Explore the Expansion of Its Business and Product Lines

Vancouver, British Columbia--(Newsfile Corp. - June 2, 2023) - The Gummy Project (CSE: GUMY) (FSE: 0OS) (OTCQB: GUMYF) ("GUMY" or the "Company") is pleased to announces a number of corporate and operation updates, including plans to begin exploring the expansion of its business and product lines within the Health & Wellness sector.

Operational Highlights

• The Company has successfully launched its four SKUs comprised of two separate flavors (Peachy Bees and Watermelon Sharks) and two package sizes (50mg and 10mg packages) into more than 70 retailers across British Columbia.
• The Company has completely sold out all 8500 units of its 10mg Peachy Bees. Which were primarily sold to one Luxury Hotel chain.
• The Company's gummies are currently being sold in hotel room mini-bars (both in the US and Canada), on an international airline's "for purchase" menu and in the retail shops of the largest passenger ferry system within North America.
• The Company has sold more than 3,300 50g Peachy Bees and more than 3,400 50g Watermellon Sharks.

The Company is focused on accelerating growth through:

• The engagement of additional national distributors in both Canada and the United States.
• Targeting additional hotel and airline customers both within the Canada and the United States.
• Driving additional brand awareness through the use of celebrity ambassadors, influencers and strategic marketing campaigns.
• Exploring opportunities for the development and commercialization of new products within the Health & Wellness sector.

"We continue to be encouraged by the performance of our gummies as they gain traction in the Health & Wellness sector in Canada and the United States. The Company will continue to expand its sales network with the ultimate goal of becoming a household name in the 'Better-for-you' product sector. Additionally, the Company is now actively to exploring the potential addition of new products which will all us to compete more broadly within the health and wellness sector and to offer our customers additional products to choose from," said Maciej Lis, Chief Executive Officer of GUMY.

About The Gummy Project

We are a growing community of individuals and organizations who believe small contributions can add up to something big within the health and wellness sector. We sell low sugar, plant based gummy products while raising money (and awareness) to support endangered keystone species. We are the only "better for you" candy company that is built to support our planet's most precious species and ecosystems, while educating our future generations on the steps we must take today, to ensure a viable tomorrow. https://shopgummies.com/

Maciej Lis, President & CEO, Director
Telephone: 1 (236) 317-2812 - Toll free 1(888) 556-9656
E-mail: investors@shopgummies.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates", "may" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company's business, financial condition, and results of operations. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

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