(MENAFN– GlobeNewsWire – Nasdaq)

DENVER, CO, May 16, 2022 (GLOBE NEWSWIRE) — via NewMediaWire – CBD Global Sciences Inc., dba Global Sciences Inc. (OTC: CBDNF) (CSE: CBDN) (Frankfurt: GS3.F) (Munich: GS3.MU) (the ‘Corporation’), provides this initial bi-weekly default status report in accordance with National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults (‘NP 12-203’). In the Corporation’s initial default announcement of April 19, 2022 (the ‘Default Notice’), the Corporation announced the delay in the filing of its audited annual financial statements for the year ended December 31, 2021 (the ‘Annual Financial Statements’) and related management’s discussion and analysis and CEO and CFO certifications (collectively, the ‘Annual Filings’) by the prescribed filing deadline.

As previously disclosed, the Corporation applied for and was granted a management cease trade order in respect of the delayed Annual Filings (the ‘MCTO’) by the Alberta Securities Commission. The MCTO prohibits the chief executive officer and the chief financial officer from trading in the Corporation’s securities for so long as there are filings that are outstanding under applicable securities laws. The MCTO does not affect the ability of the general investing public to trade in the Corporation’s securities.

The audit of the Annual Financial Statements is in progress and the Corporation continues to expect to file the Annual Filings on…