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Molecule Holdings Inc., December 24 2020

Molecule Completes Full-Scale Test of Cannabis Beverage Production in its Health Canada Licensed Facility and Submits NNCP for New House Brand "52 Saturdays"

OTTAWA, ON, Dec. 23, 2020 /CNW/ - Molecule Holdings Inc. (CSE: MLCL) ("Molecule" or the "Company"), a Canadian craft-focused cannabis beverage production company, is pleased to announce that it has successfully completed its first production-scale cannabis beverage run at its facility in Lansdowne, Ontario, and has submitted two Notices of New Cannabis Products (NNCPs) for its new house brand, 52 Saturdays.

MOLECULE PRODUCES "CAN ONE"

Molecule is pleased to announce that it has successfully completed a production-scale run of cannabis infused beverages at its Health Canada licensed production facility in Lansdowne, Ontario.  This run completes the successful transition from bench-top to full-scale production testing.  Production runs begin with water from the purpose built 30,000 L on-site water treatment facility, and proceed through filtration, flavouring, cannabis infusion, beverage chilling, gas management, pasteurization, and canning.  Samples were taken during the course of the production and returned favourable results from testing that was performed in the Company's on-site laboratory. Further third-party and verification testing is also underway.

"We are pleased to report that the bench to scale phase of our cannabis infused beverage launch has been reached successfully in 2020. It's an extraordinary feat for this small and dedicated team to have achieved this milestone, despite the historic challenges that we have all faced this year. Now that our 'CAN ONE' project is complete, we are preparing to move directly into scaled production," said President and CEO, Phil Waddington.

52 SATURDAYS NNCP SUBMISSIONS

Molecule filed NNCPs for its second house brand, "52 Saturdays". The first 2 SKUs to be launched under the new brand are "52 Saturdays Espresso Spice Fusion" and "52 Saturdays Hopped Maple Fusion". The anticipated launch of these beverages is February 2021, pending a 60 day review period by Health Canada.

"These products are indicative of the creative and innovative work of our branding and formulation team. The team has formulated over 80 cannabis beverage formulations, and these 2 particular products represent Molecule's bold creativity and ground-breaking category leadership," said Mr. Waddington.

ON BEHALF OF THE BOARD

MOLECULE HOLDINGS INC.

Per: "Philip Waddington"

President, CEO and Director

Written by

Molecule Holdings Inc.

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