SIMPLY BETTER BRANDS CORP. ANNOUNCES CHANGE IN AUDITOR

VANCOUVER, BC, Aug. 15, 2023 /CNW/ - Simply Better Brands Corp. ("SBBC" or the "Company") (TSXV: SBBC) (OTCQB: PKANF) announces that it has changed its auditors from Marcum LLP ("Former Auditor") to Davidson & Co LLP ("Successor Auditor") effective August 8, 2023. At the request of the Company, the Former Auditor was terminated as the auditor of the Company effective August 8, 2023 and the board of directors of the Company appointed the Successor Auditor as the Company's auditor effective August 8, 2023, until the next Annual General Meeting of the Company.

There were no reservations in the Former Auditor's reports on the Company's financial statements for the ‎period commencing at the beginning of the Company's two most recently completed financial years and ‎ending on the date of resignation of the Former Auditor.‎ There are no reportable events including disagreements, consultations, or unresolved issues as defined ‎in National Instrument 51-102 – Continuous Disclosure Obligations ("NI 51-102") (Part 4.11) between the Company and the Former Auditor.‎

In accordance with NI 51-102, the notice of change of auditor, together with the required letters from the Former Auditor and the Successor Auditor, have been reviewed by the board of directors of the Company and filed on SEDAR.

Vibez Earnout

In addition, further to the Company's news release dated January 25, 2023, and in connection with the Branding Earnout Agreement dated January 25, 2023, the Company has issued 159,487 common shares. The payments contemplated therein remain subject to review and approval of the TSX Venture Exchange.

About Simply Better Brands Corp.

Simply Better Brands Corp. leads an international omni-channel platform with diversified assets in the emerging plant-based and holistic wellness consumer product categories. The Company's mission is focused on leading innovation for the informed Millennial and Generation Z generations in the rapidly growing plant-based, natural, and clean ingredient space. The Company continues to focus on expansion into high-growth consumer product categories including plant-based food, clean ingredient skincare and plant-based wellness.. For more information on Simply Better Brands Corp., please visit: https://www.simplybetterbrands.com/investor-relations.

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

Forward-Looking Information

Certain statements contained in this news release constitute "forward-looking information" and "forward looking statements" as such terms are used in applicable Canadian securities laws. Forward-looking statements and information are based on plans, expectations and estimates of management at the date the information is provided and are subject to certain factors and assumptions, including, among others, that the Company's financial condition and development plans do not change as a result of unforeseen events, the impact of the COVID-19 pandemic, the regulatory climate in which the Company operates, and the Company's ability to execute on its business plans. Specifically, this news release contains forward-looking statements relating to, but not limited to: completion of the payment under the Branding Earnout Agreement. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information.

Forward-looking statements and information are subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking statements and information. Factors that could cause the forward-looking statements and information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, ability to obtain necessary regulatory approvals for proposed transactions, as well as the other risks and uncertainties applicable to the plant-based food, clean ingredient skincare and plant-based wellness or broader wellness industries and to the Company, and as set forth in the Company's annual information form available under the Company's profile at www.sedar.com.

The above summary of assumptions and risks related to forward-looking statements in this news release has been provided in order to provide shareholders and potential investors with a more complete perspective on the Company's current and future operations and such information may not be appropriate for other purposes. There is no representation by the Company that actual results achieved will be the same in whole or in part as those referenced in the forward-looking statements and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.

SOURCE Simply Better Brands Corp

Simply Better Brands Corp., Brian Meadows, Chief Financial Officer, [phone], [email protected]