Lifestyle Global Brands Limited Provides Corporate Update

Calgary, Alberta--(Newsfile Corp. - October 22, 2020) - Lifestyle Global Brands Limited (TSXV: GBE) ("Lifestyle Global" or the "Company") is pleased to provide a corporate update. The Company is continuing to explore transaction opportunities and the potential for further development of its gold assets in Mali however, at this time, the Company has no intention to complete the plan of arrangement with 1167732 B.C. Ltd. that was previously announced in the Company's June 13, 2018, press release. The Company is also pleased to announce that it has received approval from the TSX Venture Exchange ("TSXV") for the change of the Company's name to "Lifestyle Global Brands Limited" which was previously completed without receiving TSXV approval.

General Information about Lifestyle Global

Lifestyle Global is a gold explorer focused on the West African gold belt whose ordinary shares are listed on the TSX Venture Exchange under the symbol "GBE".

Additional Information

For further information please contact:

Lifestyle Global Brands Limited
Michael Kahn, Director and CFO
Telephone: 406-560-3193

Cautionary Statements

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes", an or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would" , "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the Company's exploration of future transaction opportunities, the plan of arrangement with 1167732 B.C. Ltd. and the potential further development of the Company's gold assets in Mali. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder, court or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

Neither the TSX Venture Exchange, Inc. nor its Regulation Services Provider (as that term is defined in the polices of the TSX Venture Exchange) has in any way approved or disapproved of the contents of this press release.


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