Bloom Health Partners Announces Closing of First Tranche of Private Placement

Vancouver, British Columbia--(Newsfile Corp. - July 6, 2022) - Bloom Health Partners Inc. (CSE: BLMH) (OTCQB: BLMHF) (FSE: D840) ("Bloom" or the "Company"), a leading provider of operational health and health technology, announces that it has closed an initial tranche of its non-brokered private placement offering (the "Offering") and has issued 5,150,000 units (the "Units") at $0.20 per Unit for gross proceeds of $1,030,000. The Units are comprised of (i) one (1) common share in the capital of the Company ("Common Shares"); and (ii) one-half (1/2) of a transferable common share purchase warrant (each whole warrant, a "Warrant" and collectively, the "Warrants"). Each Warrant entitles the holder thereof to acquire one (1) additional Common Share (each, a "Warrant Share") in the capital of the Company at a price of $0.30 per Warrant Share until July 6, 2023. The net proceeds of the Offering will be used by the Company for ongoing working capital and corporate development.

The initial tranche of the Offering was led by Ascenta Finance Corp., an exempt market dealer based in Vancouver, British Columbia. In connection with closing the initial tranche of the Offering, the Company paid $39,900, issued 3,000 Warrants, exercisable at a price of $0.20 per Warrant Share until July 6, 2023, and 196,500 compensation options (each, an "Option") to certain arms-length parties who assisted in introducing subscribers to the Offering. Each Option is exercisable to acquire a Unit under the same terms as the Offering until July 6, 2023. All securities issued in connection with the Offering are subject to a statutory hold period until November 7, 2022 in accordance with applicable securities laws.

The Offering included participation by the Chief Executive Officer of the Company in the amount of 50,000 Units. The purchase constitutes a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions) ("MI 61-101"). The purchase is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the Units issued to, and the consideration paid by, the Chief Executive Officer did not exceed twenty-five percent of the Company's market capitalization.

About Bloom Health Partners Inc.

Bloom Health Partners Inc. is a global platform for healthcare security, diagnostic testing and occupational health-tech. Our mission is to ensure that "unstoppable is possible" for businesses and their employees through innovative, customized healthcare models. Bloom offers a system for businesses and organizations that helps engage employees and creates strategies to manage health and safety. Our stable, scalable system is an integrated health-tech platform that securely manages data while delivering comprehensive workplace health and safety outcomes.

About Ascenta Finance Corp.

Ascenta Finance, headquartered in Vancouver, BC, is an Exempt Market Dealer registered in the provinces of BC, Alberta, Saskatchewan, Manitoba and Ontario. Ascenta connects qualified investors with quality companies that provide compelling investment opportunities with significant upside potential.

For more information on the Company, please email investors@bloomhealthpartners.com

To express an interest in participating in the Offering, please contact Marshall Farris at Ascenta Finance Corp. (marshall@ascentafinance.com).

On behalf of the board of directors,

Bloom Health Partners Inc.
Andrew Morton, Chief Executive Officer

Forward-Looking Statements

This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in the Company's forward-looking statements include the potential that milestones may not be satisfied, acquisitions may not achieve expected benefits, financing requirements, and the other risk factors described in the Company's filings with Canadian securities regulators on www.sedar.com. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

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