EDEN EMPIRE ANNOUNCES ISSUANCE OF LICENSE FOR DISPENSARY IN SALMON ARM

A Word to Shareholders

VANCOUVER, British Columbia; January 18, 2022 (GLOBE NEWSWIRE) -- Eden Empire Inc. (CSE: EDEN) (the "Company" or "Eden Empire") is pleased to announce that it has received its Cannabis Retail Store License Authorization (the “License”) from the Liquor & Cannabis Regulation Branch (the “LCRB”) for its cannabis dispensary location at 30 Lakeshore Dr NW in Salmon Arm, BC (the “Location”). The Company is also pleased to announce that it has entered into a debt settlement agreement (the “Debt Settlement”) with an arm’s length services provider of the Company to settle certain outstanding invoices and completed the closing for the acquisition of certain companies for an aggregate amount of CAD$235,000 (the “Outstanding Amount”).

Corporate Update

In full settlement and satisfaction of the Outstanding Amount, the Company has issued 4,700,000 common shares of the Company at a deemed price of $0.05 per common share (the “Debt Shares”). The issuance of the Debt Shares is subject to approval by the Canadian Securities Exchange. All Debt Shares issued in connection with the Debt Settlement are subject to a statutory hold period of four months plus a day from the date of issuance of the Debt Shares in accordance with applicable securities legislation.

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

For further information or should you have any questions, please feel free to email us at investors@edenempire.com.

Gerry Trapasso, CEO

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.