VITALITY ANNOUNCES AGM RESULTS, DIRECTOR CHANGE & STOCK OPTIONS GRANT

TSXV Trading Symbol: VPI

VANCOUVER, BC, July 23, 2024 /CNW/ - Vitality Products Inc. (TSXV: VPI) (the "Company" or "Vitality"), a manufacturer, marketer and distributor of premium vitamins and supplements, held its annual general meeting of shareholders ("AGM") on July 23, 2024.

AGM Results

The Board of Directors is pleased to announce that all resolutions put to vote at the AGM passed with 99.97% or higher approval from the votes cast. Audra J. Davies, Cheryl A. Grant (President & CEO), W. Douglas Grant (Vice President & CFO), Stuart E. Pennington and Joanne F. Q. Yan were re-elected to the Board of Directors.

Vitality Director Richard V. Gannon Resigns from the Board

Vitality announces Richard V. Gannon did not seek re-election at the AGM and resigned from the Board of Directors at the conclusion of his term on July 23, 2024. Mr. Gannon is retiring following 15 years of service on the Board of Directors of Vitality. The Board wishes to express its appreciation for Mr. Gannon's years of service to the Company.

Vitality Grants 500,000 Incentive Stock Options

Vitality announces that, pursuant to its fixed share option plan, the Company has granted incentive stock options to independent directors which will entitle the option holders to purchase up to 500,000 common shares of the Company at an exercise price of $0.05 per share for a period of five years. These options are not subject to any vesting schedule and may be exercised at any time up to the expiry date of July 23, 2029. These options are subject to a four-month TSX Venture Exchange hold period commencing July 23, 2024.

About Vitality

VITALITY^® is an award-winning line of clean vitamins and supplements, marketed to natural health retailers and health and wellness conscious consumers. Manufactured in Canada and currently sold in natural health stores and online, the products are non-GMO and third party tested for quality. Following the proven success of the line through repeat orders and same store sales growth, the Company is focused on expanding distribution and growing sales in-store and online; evaluating, researching and developing new products for future distribution; and exploring new markets for its products. To view our products, visit: www.vitality.ca.

On behalf of the Board of
VITALITY PRODUCTS INC.

"Cheryl A. Grant" (signed)

Cheryl A. Grant, President & CEO

Forward-Looking Information

Information set forth in this news release involves forward-looking statements. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with marketing and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; and the volatility of common share price and volume. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and except as required by law, the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.

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 news release.

SOURCE Vitality Products Inc.

For further information, please contact: Vitality Products Inc., Cheryl A. Grant, President and CEO, [phone], [email protected]