Hill Street Provides Update on CFO Transition

Toronto, Ontario--(Newsfile Corp. - August 31, 2022) - Hill Street Beverage Company Inc. (TSXV: HILL) ("Hill Street", or the "Company") announces that further to its March 29, 2022 announcement, the resignation of Hinta Chambers as Chief Financial Officer ("CFO") of the Company is now effective. However, the Company also announces today that following Ms. Chambers' resignation, she has been appointed as the Company's interim CFO, continuing to ensure a smooth transition as the Company progresses in its search for her permanent successor.

Ms. Chambers has served as the Company's CFO for over four years, and she has been instrumental in supporting the evolution of the Company's focus from the domestic beverage business towards building a global multi-business company pioneering the space where premium crafted consumer products meet bioscience. Her continued support in transitioning to new financial leadership of the Company provides important stability as the Company continues to deliver impressive growth and strong financial metrics as outlined in the most recent CEO update.

About Hill Street Beverage Company Inc. (TSXV: HILL)

Hill Street Beverage Company Inc. is a progressive non-alcoholic beverage and cannabis solutions company. We are pioneering the space where craft consumer products meet bioscience by combining our deep CPG expertise and our rights to use Lexaria Bioscience Corp.'s ground-breaking DehydraTECH™ patent portfolio for product development, licensing and B2B sales of cannabis ingredients.

Hill Street Beverages brands include Vin(Zero) alcohol-free wines, and Hill Avenue Cannabis Brands include (V)ia Regal Pink and White Grape Sparklers.

For more information on our business activities or to check out Hill Street's award-winning alcohol-free line-up and order product to be delivered straight to your home go to www.hillstreetbeverages.com.

For more information:

Craig Binkley, Chief Executive Officer
craig@hillstreetbevco.com

FORWARD-LOOKING STATEMENTS

Statements in this press release may contain forward-looking information. Any statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "would", "anticipate", "expects", and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances, such as future availability of capital on favourable terms, may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release. The Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities law.

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Not for dissemination in the United States.

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