DionyMed to Delay Filing of Financial Statements for the Period Ended December 31, 2018

TORONTO–(BUSINESS WIRE)–DionyMed Brands Inc. (CSE: DYME)(OTC:DMYEF) (“DionyMed” or the “Company”)
reports that it expects to be late in filing its audited financial
statements and management’s discussion and analysis for the year ended
December 31, 2018 (the “Annual Financial Statements”). In the
course of completing the audit, it was determined that, in connection
with the 2018 acquisitions of each of DionyMed, Inc. and Herban
Industries, Inc. by DionyMed Holdings Inc. reported on the Company’s
audited financial statements for the period ended February 28, 2018,
rather than applying IFRS 3 business acquisition accounting, continuity
of interest accounting has been deemed to be more appropriate under the
circumstances. This will require the restatement of the Company’s
financial statements for periods reported on prior to December 31, 2018.
The changes include eliminating previously-recognized fair value
adjustments, including the associated intangible assets and goodwill
recognized initially upon acquisition. The impacts of the restatements
are non-cash, non-revenue and are expected to be restricted to the
Statement of Financial Position. As a result of the restatements,
additional work is required by the auditors in order to complete the
audit of the 2018 annual financial statements, which work cannot be
completed for several weeks.

DionyMed has made an application for a management cease trade order and
intends to follow the alternate information guidelines contained in
National Policy 12-203 for so long as it has not filed the Annual
Financial Statements. DionyMed expects to file the Annual Financial
Statements on or before May 31, 2019.

On behalf of the Board,

Edward Fields

Chief Executive Officer

About DionyMed

Founded in 2017, DionyMed is a multi-state cannabis brands platform,
supporting cultivators, manufacturers and award-winning brands in the
medical and adult-use cannabis markets. DionyMed sells branded products
in every category from flower to vape cartridges, concentrates and
edibles. DionyMed serves cannabis consumers through retail dispensary
distribution and direct-to-consumer fulfillment with its growing
portfolio of award-winning brands. Learn more at dionymed.com and
follow @DYME_Inc on Twitter and LinkedIn.

Cautionary Statement on Forward-Looking
Statements

The information in this document contains certain forward-looking
statements with respect to activities of the Company, based on
assumptions about future courses of action, including with respect to
the filing of the Annual Financial Statements. Although
management has a reasonable basis for the conclusions drawn, risk
factors and uncertainties may cause actual results to differ materially
from those currently anticipated in such statements. In view of
these uncertainties we caution readers not to place undue reliance on
these forward-looking statements. Statements made in this
document are made as of the date hereof and the Company disclaims any
intention or obligation to update or revise any statements made herein,
except in accordance with applicable securities laws.

Contacts

Edward Fields, CEO
Edward.Fields@DYME.com
669-232-5270

Peter Kampian, CFO
pkampian@dionymed.com
647-948-8387

Investor Contacts:
Phil Carlson / Erika Kay
KCSA
Strategic Communications
Phone: (212) 896-1233
Email: pcarlson@kcsa.com
/ ekay@kcsa.com

Media Contacts:
Kate Tumino / Annie Graf
KCSA Strategic
Communications
Phone: (212) 896-1252 / (786) 390-2644
Email: ktumino@kcsa.com / agraf@kcsa.com