NOT good newsSire Bioscience Provides Update on Application for Management Cease Trade Order MISSISSAUGA, Ontario, February 18, 2021 Sire Bioscience Inc. (CSE:SIRE) (OTC:BLLXF) (FSE:BR1B) (Sire or the Company) announces that, further to its press release dated January 20, 2021, the Ontario Securities Commission (OSC) has denied the Companys application for a Management Cease Trade Order. As such, the OSC issued on February 3, 2021 a failure to file cease trade order (CTO) prohibiting the trading by any person of any securities of the Company in Canada, except as permitted under the CTO. Trading in the Companys common shares on the Canadian Securities Exchange (CSE) will remain halted as a result of the CTO. The CTO was issued as of result the Companys failure to file its annual audited financial statements, managements discussion and analysis and related certifications for the year ended September 30, 2020 (the Annual Filings) on or before the prescribed filing deadline, as required by National Instrument 51-102 Continuous Disclosure Obligations, and National Instrument 52-109 Certification of Disclosure in Issuers Annual and Interim Filings, respectively. The CTO will remain in place until such time as it is revoked following the filing of the Annual Filings by the Company, and trading in the Companys common shares on the CSE will remain halted for so long as the CTO remains in effect. There can be no assurance that the Company will be able to remedy its filing default and have the CTO lifted in a timely manner or at all. Shareholders of the Company may suffer a significant decline or total loss in value of its investment in the Companys common shares as a result. The Company's management and board of directors are working expeditiously to ensure the completion of the audit and filing of the Annual Filings. The Company will make further announcements with respect to the status of the Annual Filings as and when appropriate. About Sire Bioscience Inc. Sire is headquartered in Mississauga, Ontario, and is managed by a group of successful entrepreneurs who have extensive experience in the areas of consumer-packaged goods, manufacturing, logistics, and distribution. Sire is a CPG life science company focused on the plant-based foods and supplements industry. For additional information contact: Sire Bioscience Inc. Brian Polla, CEO T: 416.669.9392 E: ir@sirebioscience.com W: sirebioscience.com Socials: @sirebioscience