HAVN LIFE SCIENCES ENTERS DEFINITIVE AGREEMENT TO ACQUIRE STRATEGIC MANUFACTURING & PACKAGING FACILITY FOR ITS RETAIL DIVISION

The acquisition is intended to vertically integrate the Company’s retail manufacturing capabilities to support the growth of its nutraceutical division and deliver unique products to consumers.

Vancouver, BC – Havn Life Sciences Inc. (CSE: HAVN) (OTC: HAVLF) (FSE: 5NP) (the “Company” or “Havn Life”), a biotechnology company pursuing standardized extraction of psychoactive compounds and the development of natural healthcare products, is pleased to announce that it has entered into a definitive agreement (the “Definitive Agreement”) to acquire (the “Acquisition”), on the terms and conditions set forth in the Definitive Agreement, all of the outstanding share capital of GCO Packaging and Manufacturing Ltd. (“GCO”), which operates a large scale manufacturing, packaging and distribution facility (the “Facility”) in British Columbia – in exchange for 6,000,000 common shares of Havn Life (the “Consideration Shares”).

Havn Life intends to utilize the Facility to support formulation and manufacturing processes in-house to ensure the highest standards of quality and efficacy. The Acquisition is expected to  enable Havn Life to accelerate and scale production of new formulations and products at a single location.

“Having the ability to manufacture natural healthcare products in house will be absolutely critical for us,” noted Tim Moore, Chief Executive Officer of Havn Life. “The Facility is expected to provide a full suite of in-house manufacturing capabilities, thereby expanding the Company’s potential to capture margins and revenues through vertical integration and expansion of our portfolio into additional product categories.”

Scheduled to launch this spring, the Company’s retail product line will include seven natural health products which support immune health, fatigue, memory, focus and overall brain function. With the arrival of this set of products, Havn Life will take a major step forward in its mission of providing naturally-derived and standardized products to support human optimization.

Chief Science Officer, Gary Leong noted, “We’re excited to introduce our first seven products this spring, and we’re expecting the acquisition of this Facility to set us up to continue developing innovative new formulations and to effectively get innovative products to market. Having worked in the natural health industry for over 20 years, I believe it is vital for Havn Life to integrate its retail division vertically.”

With over 16,000 square feet of space, the Facility features a large warehouse with multi-level inventory racking, fully-equipped and functioning production and packaging rooms, and modern, fully-furnished boardroom, laboratory, and offices. The Facility currently holds USDA Organic, Canadian Organic and Kosher certifications, and a large loading area for easy delivery vehicle access. The 2.11-acre freestanding Facility is strategically located in the lower mainland near several key transportation hubs, providing an excellent access point for the distribution of Havn Life’s forthcoming retail product line.

Acquisition Details

Consideration Shares issuable to GCO will be subject to an escrow arrangement whereby one-sixth (1/6) of such shares will be released from escrow every three (3) months, aside from 1,214,954 of the Consideration Shares which will be subject to an escrow arrangement whereby one-half (1/2) of such shares will be released from escrow four (4) months after closing of the Acquisition (the “Closing”) and the remaining Debt Settlement Shares will be released from escrow five (5) months after Closing.

The Closing of the Acquisition of GCO is subject to a number of conditions including the satisfactory completion of due diligence, receipt of all required regulatory and third-party consents and satisfaction of other customary closing conditions. The Closing of the Acquisition is expected to occur in or around 10 days.

On Behalf of The Board of Directors
Tim Moore
Chief Executive Officer

About Havn Life Sciences Inc.

Havn Life Sciences is a Canadian biotechnology company pursuing standardized extraction of psychoactive compounds, the development of natural healthcare products, and innovative mental health treatment to support brain health and enhance the capabilities of the mind. Learn more at: havnlife.com and follow us on Facebook, Twitter, Instagram and Youtube.

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