The Well Told Company Announces That It Anticipates a Temporary Delay in the Filing of Financial Statements and Application for Management Cease Trade Order

Toronto, Ontario--(Newsfile Corp. - April 11, 2023) - The Well Told Company Inc. (TSXV: WLCO) (FSE: 7HO) ("Well Told" or the "Company"), ‎the ‎ female-founded wellness company that offers plant-based supplements, remedies, and other functional wellness products, announces that it anticipates that it will miss the deadline of May 1, 2023 to file the Company's audited annual financial statements and management discussion & analysis for the financial year ended December 31, 2022, and the CEO and CFO certificates, all as required by National Instrument 51-102 and National Instrument 52-109 (collectively, the "Documents").

The anticipated delay is due, in part, to the complexity of the audit, the additional and high costs required for the Company's auditors to complete their work and the Company's current financial position.

Accordingly, the Company has informed staff of the Ontario Securities Commission about its anticipated delay in filing the Documents and has applied to the Ontario Securities Commission pursuant to Part 4 of National Policy 12-203 - Management Cease Trade Orders ("NP 12-203") for a Management Cease Trade Order ("MCTO") pending the filing of the Documents, which MCTO will prohibit the Company's management from trading in the securities of the Company until such time as the Documents are filed. No decision has yet been made by the Ontario Securities Commission on this application. The Ontario Securities Commission may grant the application and issue the Management Cease Trade Order or it may impose an issuer cease trade order if the Documents are not filed on or before May 1, 2023.

If a MCTO is issued, during the period of default and until the filing of the Documents, the Company intends to satisfy the provisions of the "alternative information guidelines" as set out in NP 12-203, including the requirement to file bi-weekly status reports in the form of news releases containing prescribed updating information. There can be no assurance that a MCTO will be issued. The Company intends to seek capital by means of a debt or equity financing and then work diligently and expeditiously with its auditors and expects to file the Documents as soon as possible but no later than June 30, 2023.

Until the Company has filed the Documents, members of the Company's management and other insiders are subject to an insider trading black-out. The Company confirms that, other than as disclosed in prior press releases and material change reports, there have been no material business developments since the filing on November 28, 2022 of the Company's latest ‎interim financial reports for the nine month period ‎ended September 30, 2022‎.‎

The Company is not currently subject to any insolvency proceedings. If the Company provides any information to any of its creditors during the period in which it is in default of filing the Documents, the Company confirms that it will also file material change reports on SEDAR containing such information as is required.

About The Well Told Company Inc.

Well Told is a female-founded, emerging plant-based wellness company that formulates, ‎develops, distributes and sells a variety of supplements, remedies and other functional ‎wellness products. Founded by serial entrepreneur and award-winning leader Monica ‎Ruffo, it was after undergoing treatment for breast cancer, and deciding to take her health ‎into her own hands that she discovered the lack of transparency and availability of clean, ‎plant-based formulations in the wellness industry. With the mission "Clean wellness for ‎all", Well Told's products are currently available in over 2,000 stores across Canada ‎including several well-known retailers and recently launched in over 1,000 pharmacies in ‎the U.S. in addition to being available at welltold.com, on Amazon and in airports across ‎the U.S.‎

For further information, please contact:

Monica Ruffo
Chief Executive Officer
The Well Told Company Inc.
Telephone: +1-855-935-5865

Investor Relations
Aiyana Bradshaw
Email: invest@welltold.com
Telephone: +1-855-935-5865

Media inquiries
Dria Murphy
Publicist
Email: dria@alisecollective.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking information" ‎as such term is defined in applicable Canadian securities legislation. The words "may", ‎‎"would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", ‎‎"estimate", "expect" and similar expressions as they relate to the Company are intended to ‎identify forward-looking information, including: statements with respect to the issuance of an MCTO and the anticipated timing for filing the Documents. ‎All statements other than statements of historical fact may be forward-looking information. ‎Such statements reflect the Company's current views and intentions with respect to future ‎events, and current information available to the Company, and are subject to certain risks, ‎uncertainties and assumptions. Many factors could cause the actual results, performance or ‎achievements that may be expressed or implied by such forward-looking information to vary ‎from those described herein should one or more of these risks or uncertainties materialize. ‎Examples of such risk factors include, without limitation: risks related to the failure of the Company to receive the required corporate and regulatory approvals‎; risks related to credit, market ‎‎(including equity, commodity, foreign exchange and interest rate), liquidity, operational, ‎reputational, insurance, strategic, regulatory, legal and environmental; the general business ‎and economic conditions in the regions in which the Company operates; the ability of the ‎Company to execute on key priorities; the Company's results of operations may be difficult to ‎forecast; the Company is a holding company with its only asset being direct ownership of ‎Well Told Inc.; the Company's success depends upon the continued strength of its reputation ‎and brands; disruptions in manufacturing facilities or losses of site licenses and other ‎qualifications could adversely affect sales and customer relationships; the Company's success ‎depends on its ability to continue to enhance products and develop new products; the ‎Company's suppliers and sources for materials and inputs may fail to support demand and ‎increasing raw material costs could adversely affect margins; the Company is reliant on third ‎parties for shipping and payment processing; the Company's ability to compete could be ‎negatively impacted if it is unable to protect its intellectual property rights; the ability to ‎implement business strategies and pursue business opportunities; disruptions in or attacks ‎‎(including cyber-attacks) on the Company's information technology, internet, network access ‎or other voice or data communications systems or services; the evolution of various types of ‎fraud or other criminal behavior to which the Company is exposed; the failure of third ‎parties to comply with their obligations to the Company or its affiliates; the impact of new ‎and changes to, or application of, current laws and regulations; granting of permits and ‎licenses in a highly regulated business; the overall difficult litigation environment; increased ‎competition; changes in foreign currency rates; increased funding costs and market volatility ‎due to market illiquidity and competition for funding; the availability of funds and resources ‎to pursue operations; critical accounting estimates and changes to accounting standards, ‎policies, and methods used by the Company; the occurrence of natural and unnatural ‎catastrophic events and claims resulting from such events; and risks related to COVID-19 ‎including various recommendations, orders and measures of governmental authorities to try ‎to limit the pandemic, including travel restrictions, border closures, non-essential business ‎closures, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to ‎markets, economic activity, financing, supply chains and sales channels, and a deterioration ‎of general economic conditions including a possible national or global recession; as well as ‎those risk factors discussed or referred to in the Company's disclosure documents filed with ‎the securities regulatory authorities in certain provinces of Canada and available at ‎www.sedar.com. Should any factor affect the Company in an unexpected manner, or should ‎assumptions underlying the forward-looking information prove incorrect, the actual results ‎or events may differ materially from the results or events predicted. Any such forward- ‎looking information is expressly qualified in its entirety by this cautionary statement. ‎Moreover, the Company does not assume responsibility for the accuracy or completeness of ‎such forward-looking information. The forward-looking information included in this press ‎release is made as of the date of this press release and the Company undertakes no obligation ‎to publicly update or revise any forward-looking information, other than as required by ‎applicable law.‎

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