Tonisity Obtains Import Registration from Government of China for Tonisity PxW

Dublin, Ireland--(Newsfile Corp. - February 28, 2023) - Tonisity International Limited ("Tonisity"), a functional animal health science and nutrition company based in Ireland, is pleased to announce that the General Administration of Customs in the People's Republic of China ("GACC") has approved the importation of Tonisity PxW, which is Tonisity's second swine product. The GACC previously approved the importation of Tonisity's flagship swine product, Px, in the summer of 2022 and Tonisity's companion animal products, DoggyRade®, KittyRade®, YummyRade® and DoggyRade Pro® in January 2023.

The Ministry of Agriculture and Rural Affairs in China approved the registration of Tonisity PxW in 2022, which enabled Tonisity to legally sell PxW in the Chinese market. Having now obtained approval to import PxW into China, Tonisity is now positioned to accelerate sales of Tonisity PxW into the largest swine market in the world.

About Tonisity PxW

Tonisity's second product for swine, Tonisity PxW, is delivered through ordinary water lines on farms to newly-weaned pigs, with very little extra labour to implement. The weaning period and the first 2-3 weeks after weaning is a very stressful time for piglets and can lead to significant weight loss, mortality and ill health. Often, newly-weaned pigs struggle to maintain sufficient water intake. Tonisity PxW provides a palatable formula to ensure that piglets drink more readily after they are weaned from their mothers. Tonisity PxW is patented in many countries in the world and is currently being sold in Europe, Asia, North America and South America. Currently, Tonisity PxW is manufactured in Ireland.

Joint Venture in China

In July 2020, Tonisity entered into a joint venture agreement, as the controlling partner, with Impact Asia Limited, its Chinese minority partner, in order to market Tonisity's swine and companion products in China and Taiwan, including Hong Kong. Tonisity contributed technology and intellectual property to the joint venture, while the joint venture partner contributed funding, senior local management and a sales, marketing and logistics team. China is the largest consumer of pork worldwide, accounting for over 54 million tonnes of consumption of the global 112 million tonnes of pig consumption.^[1] Tonisity companion animal products were launched in Hong Kong in January 2021, while Tonisity Px was simultaneously being soft-launched with select swine producers in China.

Arie Halpern, CEO of Tonisity, comments: "Tonisity is very pleased to have received another major approval from the Government of China for our novel swine and companion animal products. Our team will be working diligently to bring Tonisity PxW to the enormous Chinese market as quickly as possible."

Rodrigo Y.C. Yang, Managing Partner of Impact Asia Limited, comments: "We are excited to have received further validation and support from the Government of China in bringing Tonisity's novel isotonic products to the Chinese swine market. Our products improve the health and well-being of animals all across the world, enhance production efficiency, and reduce the carbon footprint of farmers and food companies, all while increasing their bottom line. We are excited to continue pressing forward with Tonisity's expansion into China."

For More Information on Tonisity

Tonisity is an animal health science and nutrition company based in Ireland that is currently focusing its patented technology in two specific markets: (1) isotonic products for the enhancement of swine production; and (2) novel companion animal nutrition products. Tonisity is focused on creating positive physiological changes by addressing the issue of intestinal health of young animals, thus improving their overall health, leading to better lifetime performance. With respect to novel companion animal products, Tonisity is poised to become the first mover and market leader in a targeted nutrition approach for pets - which is a rapidly growing market across the globe. For more information on Tonisity's isotonic business, visit www.tonisity.com. For more information on Tonisity's companion animal business, visit www.doggyrade.com.

For More Information on Impact Asia Limited

Impact Asia Limited is a Hong Kong-based company with a mandate to engineer capital opportunities in Asia that foster sustainable, ethical, and socially impactful development. For more information on Impact Asia Limited, visit www.impactasia.com.

ON BEHALF OF THE BOARD OF TONISITY:

"Arie Halpern"

Arie Halpern
CEO and Chairman
Email: arie@tonisity.com

Forward-Looking Statements

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect Tonisity's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information.

The forward-looking statements and information in this press release include information relating to the business plans of Tonisity, including expansion in China and Taiwan, the processing of products in China and the development of new product lines in both the swine and companion animal product lines.

Such statements and information reflect the current views of Tonisity. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: Tonisity's ability to raise capital to maintain its growth and business objectives, Tonisity's ability to negotiate and enter into binding agreements with counterparties in geographic markets that are part of its expansion plans, Tonisity's ability to operate in the Chinese market, changes in laws and regulations that could adversely affect Tonisity's business, growth or results of operations, Tonisity's ability to attract and retain customers and consumers and impacts of the COVID-19 pandemic.

There are a number of important factors that could cause Tonisity's actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: limited business history of Tonisity; risks related to Tonisity's corporate strategy including that previous and future acquisitions do not meet expectations; disruptions or changes in the credit or security markets; results of operation activities; unanticipated costs and expenses, fluctuations in commodity prices, and general market and industry conditions; protection of Tonisity's intellectual property; disruption at any of Tonisity's facilities including as a result of the current COVID-19 pandemic; effect of public health crises, including the current COVID-19 pandemic; Tonisity's supply chain management; availability of suppliers of raw materials; limited or disrupted supply of key ingredients; the availability of key ingredients for Tonisity's products; failure to expand production capacity; effect of product innovation; failure to retain current customers and/or recruit new customers potential volatility of share price; no assurance of active market for shares; dividends; global financial conditions; the effect of product labelling requirements; price of raw materials; consumer trends; publication of inaccurate or unfavourable research and reports; management and conflicts of interest.

Tonisity cautions that the foregoing list of material factors is not exhaustive. When relying on Tonisity's forward-looking statements and information to make decisions, readers should carefully consider the foregoing factors and other uncertainties and potential events. Tonisity has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

The forward-looking information contained in this press release represents the expectations of Tonisity as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While Tonisity may elect to, it does not undertake to update this information at any particular time, except as required by applicable laws.

^[1] https://ourworldindata.org/meat-production

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/156500