love pharma

Love Pharma Inc. Announces First Closing of Financing - August 24, 2022

LOVE Pharma Inc. ("LOVE" and or "the Company") (CSE:LUV)(FSE:G1Q0),announces it has completed a first closing of a non-brokered private placement. The Company accepted subscriptions for 21,175,000 units at a price of $0.014 per unit, for gross proceeds of $296,450.

Two insiders of the Company subscribed for an aggregate of 3,000,000 common shares of the Company. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation.

Pursuant to the terms of the Financing, each Unit consists of one common share in the equity of the Company and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.05 per share for a period of two (2) years from the closing of the Financing, subject to the option of the Company to accelerate the expiry date in the event that its shares trade at $0.15 or more for 10 consecutive days.

The Company paid $2,072 in cash and issued 108,000 finder's warrants to qualified finders. Securities issued pursuant to this tranche are subject to trading restrictions until December 24, 2022.

Proceeds will be used for working capital and to review possible acquisitions.

The Company also announced that pursuant to the Company's stock option plan, the Company has issued 17,750,000 incentive stock options to certain officers, directors, employees, and consultants of the issuer exercisable at a price of $0.05 per share for a period of five (5) years, vesting immediately.

The Company also announced that it has entered into contractual agreements for marketing, communication, shareholder engagement, market making and social media communications. The marketing and communication program will include certain investor relations activities and is designed to provide improved visibility in the Company's current and planned operations. The company has entered into agreements with Penny Lane Consultants for a period of 4 weeks for $21,157.50 USD and has entered into an agreement with Red Cloud Securities Inc. for a period of 3 months for a total of $15,000 CDN.

Zachary Stadnyk, CEO and Director

About Love Pharma Inc.

With a focus on the global sexual Health and Wellness markets, Love Pharma Inc. (CSE: LUV) (FSE: G1Q0) was founded in 2020, with a mission to bring to market innovative products that enhance sexual health and wellness while providing an improved quality of life. Love Pharma holds exclusive licenses to produce market, package, sell, and distribute patent-protected therapeutic and pharmaceutical products throughout Europe, the United Kingdom, and North America.

For further information, please contact:

Investor Relations
Telephone: 1 (604) 343-2977
E-mail: investors@love-pharma.com
www.love-pharma.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates", "may" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company's business, financial condition and results of operations, lack of investor demand for Bitcoin and/or Bitcoin futures exchange traded funds, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

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Love Pharma Co. ("LOVE" and or "The Company") (CSE:LUV)(FSE:G1Q0), the Company is pleased to provide the following letter to shareholders, outlining the Company's advancements with key holdings and its strategy for the future

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