CENTR Brands Corp. - Corporate Update

Vancouver, British Columbia--(Newsfile Corp. - April 24, 2020) -  CENTR Brands Corp. (the "Company") (CSE: CNTR) (FSE: 303) (OTCQB: CNTRF) announced today its financial results for the quarter ending February 29, 2020. Selected financial information for the quarter is set forth below (with the full financial statements for the quarter and the related management's discussion and analysis ("MD&A") available under the Company's SEDAR profile at www.sedar.com):

DescriptionThree months ended
Feb 29, 2020
Three months ended
Feb 28, 2019
Revenue$234,670$ -
Expenses$972,263$415,600
Net and comprehensive loss for the period($851,207)($415,600)
Total assets$1,500,985$149,621
Total liabilities$465,548$131,239
Net loss per share($0.01)($0.31)

*All amounts reflected in Canadian dollars

"We are excited to show another consecutive quarter of growth since we started sales in August 2019; over 45% revenue growth in the third quarter over the previous quarter" said Company CEO Joseph Meehan. "CENTR is witnessing success and recognition as a delicious beverage with strong brand visuals, and we look forward to continuing our growth in this current economic environment".

About CENTR Brands Corp. CENTR Brands Corp. is a better beverage company that develops and markets non-alcoholic beverages. The Company's initial focus is on the creation and launch of a global brand for the cannabidiol (CBD) infused beverage market. The Company's first product, named CENTR, is a sparkling, low-calorie, CBD beverage. www.findyourcentr.com

For further information, contact Joseph Meehan at 1.604.733.1514.

On behalf of the Board,

CENTR BRANDS CORP.

Joseph Meehan, Chief Executive Officer

This news release may contain certain "Forward-Looking Statements" within the meaning of applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the completion of the Financing and the participation by certain directors of the Company. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54842

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