XPhyto Provides Comments on Promotional and Marketing Activity

VANCOUVER, BC / ACCESSWIRE / January 22, 2021 / XPhyto Therapeutics Corp. (CSE:XPHY)(OTCQB:XPHYF)(FSE:4XT) ("XPhyto" or the "Corporation") at the request of OTC Markets, is providing the following comments regarding recent promotional activity with respect to the Corporation.

The Corporation has been listed on the Canadian Securities Exchange from July 2019. Since that time, the Corporation has engaged various third parties to provide media, marketing and investor relations services ("Promotional Activity" or "Promotional Activities"). Most of the Corporation's Promotional Activities have been ongoing since listing. Most recently, the Corporation engaged Investor Channel Inc. in January 2021 to provide advertising placements and transaction services. All source materials and content for all Promotional Activity were provided by the Corporation and vetted for factual accuracy by a senior officer of the Corporation. Payment for Promotional Activities was made exclusively by the Corporation. In connection with the creation of the Promotional Activity, the Corporation through its executive management participated in the creation of promotional materials. The Corporation was not involved in the distribution of promotional materials and all Promotional Activities were undertaken pursuant to written or oral agreements with third party service providers and their sub-contractors. The Corporation ultimately had control over the content of all Promotional Activities.

The Company was aware of all Promotional Activities from when such activities were engaged (as set out in the Schedule A below) and confirms that the statements in the Promotional Activity are not false or misleading. The Corporation does not believe that the Promotional Activity had any material impact on the trading activity of the Corporation's shares but rather, the fact that the Corporation was developing its products and raising capital was the significant factor in the trading activity of the Corporation's shares.

The Corporation, verifies the truth and accuracy of the facts provided in or through all Promotional Activities and confirms that, after due inquiry, no third party has paid for or participated in the creation or distribution of Promotional Activity. The Corporation is not aware, after inquiry, if any, director, officer, employee or service provider providing Promotional Activity has traded in the shares of the Corporation in the preceding 90 days, save and except for the purchase of 10,000 shares of the Corporation on January 7, 2021 by a single service provider who provided Promotional Activity. The Corporation has not issued convertible securities at a discount to market price when such convertible securities were contracted. Schedule A is a list of third party service providers engaged by the Corporation to provide Promotional Activities in the preceding 12 months.

About XPhyto Therapeutics Corp.

XPhyto Therapeutics Corp. is a bioscience accelerator focused on next-generation drug delivery, diagnostic, and new active pharmaceutical ingredient investment opportunities, including: precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral health screening tests; and standardization of emerging active pharmaceutical ingredients for neurological applications, including psychedelic compounds and cannabinoids. The Company has research and development operations in North America and Europe, with an operational focus in Germany, and is currently focused on regulatory approval and commercialization of medical products for European markets.

XPhyto Therapeutics Corp.:
Hugh Rogers, CEO and Director

Investor Inquiries:
Mr. Knox Henderson
T: 604-551-2360
E: info@xphyto.com

Media Inquiries:
MC Services AG
Julia Hofmann, Andreas Jungfer
T: +49 89 210 228 0
E: xphyto@mc-services.eu

Forward looking statements

This news release includes statements containing forward-looking information within the meaning of applicable Canadian securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "develop", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "propose" and other similar words, or statements that certain events or conditions "may" or "will" occur, and in this release include the statement regarding the Company's goal of building a successful diagnostic, drug delivery, and medical cannabis company. Forward-looking statements are only predictions based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements, including: that the Company may not succeed in developing a commercial product; that the sale of products may not be a viable business; that the Company may be unable to scale its business; product liability risks; product regulatory risk; general economic conditions; adverse industry events; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; currency risks; competition; international risks; and other risks beyond the Company's control. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.

SCHEDULE A

SOURCE: XPhyto Therapeutics Corp.