Astron Connect Inc. Reports First Quarter 2023 Results

(TheNewswire)

VANCOUVER,BC–TheNewswire - February28,2023–AstronConnectInc.(the“Company”or“Astron”)(TSXV:AST)today announced its first quarter results for the three months ended December 31, 2022.

Highlights for the three months ended December 31, 2022:

Salesforthe three monthsendedDecember 31,2022 were$Nil(2021-$Nil).There were no revenues recorded in the first quarter as a result of the Covid-19 pandemic’s impact on the global economy and global supply change issues.

• Net loss of $86,446 for the three months ended December 31, 2022 (2021 – net loss of $156,416), a decrease of 83% from FY2021.

• Operating expenses of $87,064 for the three months ended December 31, 2022 (2021 - $156,183), a decrease of 44% from FY2021.

• As of December 31, 2022, the Company had a working capital of $393,289 (2022 - $479,735).

For further financial information, please refer to the annual audited consolidated financial statements www.sedar.com or www.astronconnect.com.

Financial Statements and MD&A

The Company's Financial Statements and Management's Discussion and Analysis (MD&A) for the three months ended December 31, 2022 will be accessible on SEDAR atwww.sedar.com under Astron's profile and on the Company's website atwww.astronconnect.com.

ABOUT ASTRON CONNECT

Astron Connect Inc. (TSX-V:AST) helps Canadian enterprises in the food and beverage industry break through the noise and bring their products to new international markets in the emerging world. Astron Connect bringsCanadianfoodandbeveragecompaniestotheworldthroughitsextensiveconnectionsandexport logisticscapabilitiesinChinaandemergingmarkets.MannaWaterandSachielWater(bothAstronbrands) supplyChinaandotheremergingmarketswithpureCanadianbottledspringwater.Formoreinformation, visitwww.astronconnect.com.

For more information, please contact:

S. Randall Smallbone Chairman and Director Astron Connect Inc.

randalls@astronconnect.com

TheTSXVhasneitherapprovednordisapprovedthecontentsofthisnewsrelease.NeithertheTSXVnor itsRegulationServiceProvider(asthattermisdefinedinthepoliciesoftheTSXV)acceptsresponsibility for the adequacy or accuracy of thisrelease.

Notice regarding forward looking statements:

This press release may contain “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein may be forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans” “expects” or “does not expect”, “proposed”, “is expected”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects the current beliefs of Astron and is based on information currently available to Astron and on assumptions Astron believes are reasonable. These assumptions include, but are not limited to, management’s assumptions about receiving TSXV acceptance of the Transaction as constituting Astron’s “qualifying transaction”.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Astron to be materially different from those expressed or implied by such forward-looking information. Although Astron has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward- looking information as there can be no assurance that the plans, intentions or expectations upon which theyareplacedwilloccur.Suchinformation,althoughconsideredreasonablebymanagementatthetime of preparation, may prove to be incorrect and actual results may differ materially from thoseanticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release represent the expectations of Astron asof the date of this press release and, accordingly, are subject to change after such date. However, Astron 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 securitieslaw.

Investors are cautioned that, except as disclosed in the filing statement prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

TheTSXVentureExchangehasinnowaypassedonthemeritsoftheTransactionandhasneitherapproved or disapproved the contents of this pressrelease.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility of the adequacy or accuracy of this press release.

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