Sunshine Earth Labs Ltd. Retracts and Amends Previous Corporate Update Provided on March 2, 2023

VICTORIA, BC, March 3, 2023 /CNW/ - Sunshine Earth Labs Ltd. ("Sunshine Labs" or the "Company") retracts  the previous corporate update distributed on March 2, 2023 and provides the amended update below.

NOTE: Sunshine Labs is licensed by Health Canada to conduct the following regulated activities: possession, production, assembling, sale/provision and sending, transportation and delivery with coca leaf, cocaine, diacetylmorphine, morphine, MDMA, opium and psilocybin under tight limitations imposed by Health Canada.

Sale of these substances can only occur under the specific guidelines of the Controlled Drugs and Substances Act (CDSA). Sale is allowed to another licensed dealer, pharmacist, practitioner, or hospital employee provided they have the necessary Health Canada License. This license does not permit the sale of any of these substances to the general public.

Sunshine Labs is a Canadian-based biosciences company that aims to bring a safer supply of drugs to the global market, has published a corporate update highlighting the progress that has been made since receiving its Health Canada Dealer's License for Psilocybin on May 20, 2022.

Operational Highlights - 9-month Update:

• The Company received an amendment to its Controlled Drug and Substances Dealer's License to legally possess, produce, sell and distribute MDMA on September 29, 2022.
• The Company received an amendment to its Controlled Drug and Substances Dealer's License to legally possess, produce, sell and distribute Coca Leaf and Cocaine on November 15, 2022.
• The Company received an amendment to its Controlled Drug and Substances Dealer's License to legally possess, produce, sell and distribute Opium and Morphine and Diacetylmorphine on January 12, 2023.
• Health Canada Licenses were issued to Oryx BioMed Ltd., a wholly owned subsidiary of Sunshine Earth Labs Ltd.

"We are incredibly proud of the progress we have made in the last year," said Donovan Edwards, Sunshine's CEO.  "Since inception, we have been proactively pursuing amendments to our Dealer's License to include MDMA, Coca Leaf, Cocaine, Opium, Morphine, and Diacetylmorphine to position ourselves as a legitimate safer supply partner. We will continue to work on securing global trade relationships to import ethically sourced medical products for safer supply."

About Sunshine Earth Labs Ltd:
Sunshine Earth Labs Ltd (the Company) is building international partnerships to provide a safer supply of drugs to Canada and the global market. Their Health Canada Dealer's License was originally issued for the research, production, & sales of Psilocybin. It was then amended to include MDMA, Coca Leaf, & Cocaine. Our most recent amendments include Morphine, Diacetylmorphine (DAM/heroin), and Opium. The Sunshine Labs team is working to actively build international partnerships to provide a Safer Supply under the guidelines of the CDSA.

 https://www.sunshinelabs.life/

SOURCE Sunshine Earth Labs Ltd.

Donovan Edwards, CEO: [email protected]; Andrew Pike, Investor Relations: [email protected]; For media inquiries: Tiffany Soper, Nine Point Agency: [email protected]