• 2022 Revenue will include sales of VINIA® and Cannabis, both with high gross margins
• Major investments in the BioFarming platform and Intellectual property
• New patent application covers a 700% increase in Bioreactor production output 

VANCOUVER, CANADA, and REHOVOT, ISRAEL, January  26, 2022 – BioHarvest Sciences Inc. (“BioHarvest” or “the Company”) (CSE: BHSC) announces that following the successful over-delivery of revenue targets versus guidance provided in 2021, the Company is estimating 2022 revenue to be between USD $5M-$7M, representing a significant growth of 2.5X-3.5X over 2021. The range in guidance is due to two primary determinants; the speed in which the biological technology transfer to its new 20 Ton/year facility is completed, and regulatory timelines influencing the conversion of the existing 2 Tons/year facility from VINIA to the production of Cannabis.

The Company is also projecting to achieve break-even cash flow in 2023, when the business reaches its first scaling point. For 2022, BioHarvest plans to continue to invest heavily in R&D (as a percentage of total revenue) and in the building of manufacturing capacity for its Cannabis vertical in Israel and abroad.

Consistent with being a biotech innovator, the Company will continue to hire additional scientists, conduct further clinical trials, and invest in further strengthening its IP portfolio. The Company recently applied for a new patent related to its Cannabis scale-up process, given its successful growing of Cannabis in Industrial Bioreactors which achieved a 700% production scaling increase versus previous levels. BioHarvest remains the only company in the world capable of growing Cannabis trichomes in liquid media leading to Cannabis biomass production without growing the plant itself.

Ilan Sobel, CEO of BioHarvest, said “I look forward to an outstanding year with significant revenue growth and major technological achievements. The 2022 projected revenue guidance demonstrates the growing demand for our VINIA® product and the anticipation for our Cannabis solutions. Our proprietary BioFarming platform technology creates the opportunity to expand the Company’s product offering both vertically and horizontally and we look forward to bringing innovative product solutions to the market. We also plan to start R&D development on a new vertical in 2022 where our platform technology can provide a disruptive solution for unmet consumer needs. For the above reasons we will continue to make significant investments in this platform that would solidify BHSC as a Biotech innovator and yield healthy long-term growth and profitability.”

All interested media and investors are invited to attend an ‘Introduction to BioHarvest’ webinar on January 26, at 11 am PST. The event will include a live Question and Answer session. Please register: Introduction to BioHarvest | BioHarvest Sciences (livestorm.co)

About BioHarvest Sciences Inc.

BioHarvest Sciences Inc. (CSE: BHSC) is a fast-growing Biotech firm listed on the Canadian Securities Exchange. BioHarvest has developed a patented bio-cell growth platform technology capable of growing the active and beneficial ingredients in fruit and plants, at industrial scale, without the need to grow the plant itself. This technology is economical, ensures consistency, and avoids the negative environmental impacts associated with traditional agriculture. BioHarvest is currently focused on nutraceuticals and the medicinal cannabis markets. Visit: www.bioharvest.com.