This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

 VANCOUVER, CANADA, and REHOVOT, ISRAEL, OCTOBER 13, 2022 – BioHarvest Sciences Inc. (“BioHarvest” or the “Company”) (CSE: BHSC) (OTCQB: CNVCF) (FSE: 8MV) is pleased to announce that it has closed the first tranche (the “First Tranche”) of its non-brokered private placement of convertible notes (the “Notes”) previously announced on April 7, 2022 and October 7, 2022. Under the First Tranche, the Company has issued Notes in the aggregate principal amount of $6,878,243.65 CAD.

In connection with the First Tranche, the Company has paid finder’s fees of $95,392.27 CAD to finders. Upon and for each conversion (“Conversion”) of any portion of the principal amount of certain Notes in the aggregate principal amount of $1,920,717.80 CAD (the “Converted Amount”) the Company may issue warrants (the “Finder’s Warrants”) to the Finders. The Finders’ Warrants are exercisable to purchase up to a number of common shares of the Company (“Common Shares”), equal to 5% of the Converted Amount divided by the Conversion Price (as defined herein) of such Conversion, at the Conversion Price of such Conversion for a period of 12 months from such Conversion.

BioHarvest Sciences Q3 Shareholder Update, October 25 at 11am PT

The Company invites all interested members of the media, scientific community, and shareholder partners to join CEO Ilan Sobel at the Q3 Shareholder Update, October 25 at 11am PT. This online session will include a live Q+A, and BioHarvest Sciences has announced that CEO Sobel has announced will present the product composition details for BioHarvest’s first cannabis strain, and he will discuss VINIA commercialization progress, including record Q3 VINIA sales. Register here:

https://us02web.zoom.us/webinar/register/WN_iFRtgArbQfO6Wgz0QCh5BA

The Notes issued under the First Tranche, and any Common Shares issuable upon conversion of such Notes, are subject to a four month and one day hold expiring February 14, 2023.

About BioHarvest Sciences Inc.

Based in Vancouver, BC, BioHarvest Sciences Inc. is the developer and exclusive owner of the proprietary and patent-protected BioFarming technology. It is the first and only industrial-scale plant cell technology capable of producing the active plant ingredients without the necessity to grow the plant itself. The Company’s technology is non-GMO and has already been validated by VINIA®, the red grapes cells functional food/dietary supplement produced and sold by BioHarvest Sciences Inc. The Company plans to generate significant revenue within the global nutraceutical ingredients and dietary supplements market with VINIA® and other Super Fruit Nutraceutical products. Further, by adapting this technology to the Cannabis plant, and building adequate production capacity, BioHarvest Sciences Inc.’s objective is to become a leading supplier of Cannabis for both medicinal and legal recreational purposes. Visit: www.bioharvest.com.