The Planting Hope Company Inc. (?Planting Hope? or the ?Company?) announced that it will implement a strategic review of the business (the ?Review?) to position the Company for the future by focusing in on core activities that are expected to drive long-term, sustainable growth. Under the Review, the Company has established, on an interim basis, an Office of the CEO (?Office?) led directly by three independent board directors of the Company, Kevin Phelps, Scott Carter, and Qing Meyerson.

The Company expects to substantially complete the Review during the next several months. As part of this Review, the Company intends to consider potential commercial alliance partnerships, including distribution opportunities for its products, and may divest certain assets in order to focus on its most compelling opportunities. Interim leadership transition: Concurrent with the implementation of its Review, the Company also announced the following leadership changes: Julia Stamberger, Founder, CEO, and Chairman of the Board is appointed to a new role as President and continues as a Board Director.

In the near-term Julia will focus on driving business development, brand development, and customer-facing initiatives to support the Company's strategic growth opportunities. Kevin Phelps, Board Director and Audit Committee Chairman, is appointed as Chairman of the Board in addition to supporting the Finance and Governance functions of the Office. Scott Carter, and Qing Meyerson, Directors, will support the commercial operations of the Company and the Review, respectively.

During the Review Julia Stamberger, Founder, and President, Susan Walters-Flood, COO, Tony Sansone, CFO, James Curley, EVP Sales, and Mary Barrett, SVP of Strategic Partnerships will report directly to the Office. Shelley Diamond has resigned from the Company's board of directors for personal reasons effective as of June 11, 2024. The Company's leadership thanks Shelley for her services to the shareholders of the Company in her role as a board member since August 2021.

The Company believes that this Review is important to position it for long-term, sustainable growth and improve overall competitiveness in today's market.