Green Scientific Labs announces the sale of New Jersey and Illinois assets

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Green Scientific Labs Holdings Inc. ("Green Scientific Labs" or the "Company") (CSE: GSL), a leading multi-state provider of innovative cannabis and hemp testing technologies and methods, announces the sale of its New Jersey and Illinois locations, effective December 8, 2022.

Green Scientific Labs Holdings Inc. ("Green Scientific Labs" or the "Company") (CSE: GSL), a leading multi-state provider of innovative cannabis and hemp testing technologies and methods, announces the sale of its New Jersey and Illinois locations, effective December 8, 2022.

“The completion of this sale is an important step toward simplifying our business model while we improve operational execution in our core markets of Florida and Arizona” said Michael Richmond, Chairman.

As an accredited cannabis testing laboratory permitted to perform tests in compliance with the requirements of the Florida Office of Medical Marijuana Use (OMMU) and the Arizona Department of Health Services (AZDHS), GSL will continue to support its statewide marijuana clients and large portfolio of nationwide Hemp & CBD clients.

“We look forward to continuing to raise the cannabis compliance testing bar while ensuring patient safety and simultaneously helping our clients meet and exceed their goals,” concluded Richmond.

About Green Scientific Labs
Green Scientific Labs (CSE: GSL) is a leading, multi-state provider of innovative cannabis and hemp testing technologies and methods. The Company's labs perform product testing to help cultivators, manufacturers, and retailers stay compliant with state and federal regulations. Green Scientific Labs delivers superior marijuana, cannabis, hemp, and CBD testing services, and provides industry leading customer service for its clients.
For more information, please visit https://www.greenscientificlabs.com/.

Cautionary Statement Regarding Forward-Looking Information and Forward-Looking Statements
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of applicable United States securities legislation. Such forward looking information and forward looking statements are not representative of historical facts or information or current condition but instead represent only the Company's belief regarding future events, plans or objectives, many of which by their nature are inherently uncertain and outside of the Company's control. Often, but not always, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative and grammatical variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved Such forward looking information and forward-looking statements are based on the Company's ‎current projections and expectations about future events and financial trends that management ‎believes might affect its financial condition, results of operations, business strategy and financial ‎needs, and on certain assumptions and analysis made by the Company in light of the experience ‎and perception of historical trends, current conditions and expected future developments and ‎other factors management believes are appropriate. Forward-looking information and statements ‎involve and are subject to assumptions and known and unknown risks, uncertainties, and other ‎factors which may cause actual events, results, performance, or achievements of the Company ‎to be materially different from future events, results, performance, and achievements expressed ‎or implied by forward-looking information and statements herein. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, forward-looking information and statements are reasonable, in light of ‎the use of assumptions and the significant risks and uncertainties inherent in such information ‎and statements, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements as a result of known and unknown risk factors and uncertainties affecting the Company, including but not limited to, risks regarding the cannabis-testing industry or cannabis industry generally, failure to obtain regulatory or stock exchange approvals, economic factors, the equity markets generally and risks associated with growth and competition. Any forward-looking information and statements ‎herein are made as of the date hereof and the Company ‎assumes no obligation and disclaims any intention to update or revise any forward-looking ‎information and statements herein or to update the reasons that actual events or results could or ‎do differ from those projected in any forward looking information and statements herein, whether ‎as a result of new information, future events or results, or otherwise, except as may be required by ‎applicable securities laws.‎ All written and oral forward-looking information and forward-looking statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice regarding forward-looking information and forward-looking statements.

The Canadian Securities Exchange has not reviewed, approved, or disapproved the content of this news release.‎

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