Disclaimer

This release includes forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws (collectively, "forward-looking information"). Statements containing the words "believe", "expect", "intend", "should", "seek", "anticipate", "will", "positioned", "project", "risk", "plan", "may", "could", "estimate", or, in each case, their negative and words of similar meaning, are intended to identify forward-looking information. Forward-looking information in this release, which includes but is not limited to, trends in the disposable cigarette butts industry and market, including any potential future growth thereof, Greenbutts' plans for research and development and any potential commercialization of products, any potential results from clinical studies that may be undertaken by Greenbutts, any statements as to the efficacy of products that Greenbutts may develop, any future submission by Greenbutts of regulatory approval applications, any future receipt by Greenbutts of regulatory approval for any products that it may develop, any future receipt by Greenbutts of patents that have been applied for or may be applied for in respect of its technologies, the success of Greenbutts' existing and future business strategies and objectives and implementation, including any resulting benefits to Greenbutts' operations or financial and non-financial performance as a result of such strategies and objectives and implementation, completion of financing, and the use of proceeds of a financing, is subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by the forward-looking information. Such risks and uncertainties included but are not limited to, risks related to completion of a financing; dilutive effect of an offering and future offerings; competition from other competitor companies; violations of laws and regulations could result in repercussions; regulatory or political change; requirement of commercial scale and quality manufactured product supply; negative operating cash flow and going concern; limited operating history; requirement for additional capital to continue to develop business and realize on objectives; lack of product revenue; unfavourable publicity or consumer perception; reliance on the capabilities and experience of key executives and management; risk of product liability claims; COVID-19; litigation; conflicts of interest; ability to protect intellectual property; changes in patent law; requirement to share intellectual property to service providers; general economic, market and business conditions; and other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended.

These risks, uncertainties and assumptions could adversely affect the outcome of the plans and events described herein. In addition, even if the outcome of the plans and events described herein are consistent with the forward-looking information contained in this release, those results or developments may not be indicative of results or developments in subsequent periods. Forward-looking information contained in this release is based on the beliefs and expectations of Greenbutts' management, which Greenbutts believes are reasonable as of the current date, and are subject to significant business, social, economic, political, regulatory, competitive and other risks, uncertainties, contingencies and other factors. Many assumptions are based on factors and events that are not within the control of Greenbutts and actual future results may differ materially from current expectations. Except as required by applicable law, Greenbutts assumes no obligation to update or revise any forward-looking information in this release to reflect new events or circumstances.