Nerium Biotechnology Provides Update on Status of its Annual Financial Statements

SAN ANTONIO, Texas, June 15, 2020 /CNW/ - Nerium Biotechnology, Inc. (the "Company") is providing an update on the status of its annual consolidated financial statements, accompanying management's discussion and analysis and related certifications (collectively, the "Annual Filings") for the year ended December 31, 2019.

On April 30, 2020, the Company announced that, in reliance on the temporary blanket relief for market participants granted by the Canadian Securities Administrators, which provided a 45-day filing extension for certain filings normally required to be made on or before June 1, 2020 as a result of the COVID-19 pandemic, it anticipated filing its Annual Filings by June 12, 2020. The Company now anticipates filing its Annual Filings by June 30, 2020.

The Company has always prepared its financial statements in accordance with United States Generally Accepted Accounting Principles ("US GAAP"). It was eligible to file such financial statements in satisfaction of its disclosure obligations as a Canadian reporting issuer as long as, among other things, it had a class of securities registered under section 12 of the United States' Securities Exchange Act of 1934 (the "1934 Act"). The Company terminated its registration statement in December, 2012 but continued to prepare its financial statements in accordance with US GAAP. The Company recently recognized that it was required to file a new registration statement under the 1934 Act in order to use financial statements prepared under US GAAP to satisfy its disclosure obligations under Canadian securities laws. The Company anticipates filing a registration statement on Form 10 in respect of its common shares with the United States Securities and Exchange Commission by June 16, 2020. Thereafter, the Company will seek temporary exemptive relief from securities regulatory authorities in Canada to enable it to file financial statements prepared in accordance with US GAAP prior to the completion of the registration of its common shares under section 12 of the 1934 Act. Upon receiving such relief or the completion of the registration of its common shares under the 1934 Act, the Company will file its Annual Filings.

Until the Annual Filings are filed, management and other insiders of the Company are subject to a trading black-out policy that reflects the principles of section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

The Company confirms that, other than as previously disclosed in the Company's press releases, there have not been any material business developments since the filing of its interim condensed consolidated financial statements for the three and nine-month periods ended September 30, 2019.

About Nerium Biotechnology, Inc.

Nerium Biotechnology, Inc. is a biotechnology company involved in the research, product development, manufacture and marketing of Nerium oleander-based products. The Company's shares are not listed on any stock exchange or quotation system.

Forward Looking Statements: Statements made in this press release that relate to future plans, expectations, events or performances are forward looking statements. Forward-looking statements are not based on historic facts, but rather on current expectations regarding future events. They are based on information available to management and/or assumptions management believes are reasonable. Many factors could cause future events and outcomes to differ materially from those discussed in the forward-looking statements. Although the forward-looking statements are based on what management believes are reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with these forward-looking statements. The forward-looking statements in this press release are made as of the date hereof and, except as required by applicable securities laws, the Company does not assume any obligation to update or revise such forward-looking statements. More information about the Company is available in its disclosure documents, all of which are available on the Company's issuer profile on SEDAR at www.sedar.com.

SOURCE Nerium Biotechnology, Inc.

Joseph B. Nester, Executive Vice-President, Phone: [phone] (ext. 101), Email: [email protected]