Phoenix, Arizona and Vancouver, British Columbia--(Newsfile Corp. - November 15, 2023) - Over the past couple weeks, the recently appointed leadership at YourWay Cannabis Brands Inc. (CSE: YOUR) (OTC: YOURF) ("YourWay" or the "Company") has been evaluating the overall financial status of the Company, along with Labtronix, Inc. ("Labtronix") and the Company's other subsidiaries. Management's primary objectives have included achieving financial stability, conducting essential financial audits to lift the cease trade order and relisting Company's shares on the CSE.

During this evaluation, management has identified several critical factors:

1. The auditors are working through the Company's financials for 2022 and are consuming significant company resources and the timeline for completion is yet to be determined.

1. Financials for the 2023 interim periods and the 2023 year end have not been prepared yet and the closing procedures required to prepare the same have not been established.

1. Certain tax returns for 2022 have not been filed and the liability associated with same is still being determined.

1. YourWay and Labtronix have been named in a lawsuit by Trulieve Cannabis Corp., the defense of which is consuming significant Company resources.

1. Labtronix has experienced a notable decline in sales over the past few months, aligning with the initiation of the aforementioned lawsuit.

Management is diligently reviewing all aspects of the business and will provide timely updates to shareholders.

Offer to Purchase Labtronix

Management has received a Letter of Intent (the "LOI") from an arm's length entity based in Arizona, expressing interest in acquiring 100% of the shares of YourWay's wholly-owned subsidiary, Labtronix, Inc.

YourWay management is considering the offer and evaluating its potential to contribute to the Company's objectives. At the request of the potential buyer, their identity cannot be disclosed at this time.

The LOI outlines the following terms and conditions:

1. Purchase price of US$3 million for a 100% ownership stake in Labtronix.

2. Assumption of the Trulieve lawsuit and another outstanding employee lawsuit.

3. Assumption of all existing debts.

4. Assumption of all tax liabilities pertaining to Labtronix Inc.

Beyond these specified terms, it appears that the sale of Labtronix could diminish a significant portion of the Company's audit risk, presenting an opportunity for management to complete audits more smoothly in the future. Additionally, the transaction could offer capital that management could deploy to explore other opportunities, ultimately enhancing shareholder value.