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6X0) Issues Update on Default Status

Delic Holdings (CSE: DELC) (OTCQB: DELCF) (FRA: 6X0), a leader in new medicines and treatments for a modern world, announced that it is providing a default status report; the report is being released in accordance with the alternative information guidelines set out in National Policy 12-203 Management Cease Trade Orders (“NP 12-203”). According to the announcement, Delic is experiencing delays to its audit, which means that the required annual financial statements and management’s discussion and analysis for FY 2021 have been delayed as well. The company had requested that a management cease trade order (“MCTO”) be imposed as a result of the late filing; that order was issued earlier this month. DELCF is reporting that the company is working diligently to complete the required filings and plans to file them by May 30, 2022, although management cannot assure that date. As part of the status update, Delic Holdings officials confirm that since the date of the default announcement no other material change to information set out in the default announcement has taken place that hasn’t been disclosed; that the company hasn’t failed to fulfill its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; there has been no additional specified default by the company under NP 12-203; and there is no other material information concerning the affairs of the company that has not been disclosed generally. In addition, the company reaffirmed that it will continue to satisfy the provisions of the alternative information guidelines set out in NP 12-203 as long as it remains in default of the requirement to file the annual filings.

To view the full press release, visit https://ibn.fm/ychjs

About Delic Holdings

Delic is a leader in new medicines and treatments for a modern world, improving access to health benefits across the country and reframing the conversation on psychedelics. The company owns and operates an umbrella of related businesses, including Ketamine Wellness Centers, the largest chain of psychedelic wellness clinics in the country, and Ketamine Infusion Centers; Delic Labs, the only licensed entity by Health Canada to exclusively focus on research and development of psilocybin vaporization technology; Meet Delic, the premier psychedelic wellness event; and trusted media and e-commerce platforms Reality Sandwich and Delic Radio. Delic is backed by a team of industry and cannabis veterans and a diverse network, whose mission is to provide education, research, high-quality products and effective treatment options to the masses. For more information about the company, visit www.DelicCorp.com.

NOTE TO INVESTORS: The latest news and updates relating to DELCF are available in the company’s newsroom at https://ibn.fm/DELCF

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