Thoughtful Brands Inc. (CSE: TBI; FSE: 1WZ1; OTCQB: PEMTF) (the 'Company' or 'Thoughtful Brands'), a global natural health products and eCommerce technology company, is pleased to announce it has entered into a definitive agreement to acquire (the 'Transaction') American CBD Extraction Corp. ('American CBD') and its Kentucky-based wholly owned subsidiary East Kentucky Extractions, LLC ('EKE'), a hemp derived CBD extraction company.

The Transaction sets the stage for Thoughtful Brands to become a vertically integrated CBD retailer, controlling each aspect of the supply chain including production, logistics and value chain. 'The acquisition of American CBD will mark the start of a new era for Thoughtful Brands.' said CEO, Ryan Dean Hoggan. 'By having the ability to produce hemp extractions ourselves, we can ensure the quality of our brands and products more confidently than ever before, while also being in a prime position to reduce operating costs, expand sales and drive product innovation.'

About American CBD Extraction Corp.

Because of its location, American CBD's subsidiary has an abundant availability of biomass at economic prices, which is then processed using CO2 extraction to produce high-grade hemp derived CBD oil for the American market. American CBD has a fully built and licensed 41,000 sq ft facility with the ability to process over 1,200 lbs per day to produce winterized crude with the current extraction systems.

About Thoughtful Brands Inc.

Thoughtful Brands Inc. is an eCommerce technology company that researches, develops, markets, and distributes natural health products through various brands in North America and Europe. Through continuous strategic acquisitions, the Company has a strong footprint in the CBD market, as well as the burgeoning psychedelic medicine sector. Thoughtful Brands owns and operates a 110,000 square foot pharmaceutical manufacturing facility in Radebeul, Germany, where its highly skilled team conducts clinical studies utilizing naturally occurring psilocybin and other compounds found in psychedelics for the treatment of opiate addiction, while planning for future opportunities to create proprietary psilocybin products.

Contact:

Tel: +1.604.423.4733

Cautionary Note Regarding Forward-Looking Statement

All statements in this press release, other than statements of historical fact, are 'forward-looking information' with respect to the Company within the meaning of applicable securities laws, including with respect to the closing of the Transaction, the business plans and prospects of American CBD after the completion of the Transaction, the ability to create proprietary psilocybin products in the future. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

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