Steep Hill Inc. entered into a licensing agreement with SH Lab Holdings LLC, expanding its network of licensees to the state of Vermont. Under the terms of the License Agreement signed on April 20, 2022, the Company's wholly owned subsidiary, Steep Hill (US) granted to Steep Hill Vermont certain exclusive licenses with respect to Steep Hill's know-how and procedures, for purposes of operating a laboratory for testing cannabis, hemp and cannabis and hemp derived products in the state of Vermont under the "Steep Hill" brand.