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Shareholder Corporate Update

Subject: Zoglo’s Incredible™ Shareholder Corporate Update from CEO Anthony Morello

April 21, 2022

Greetings,

Now that we have completed our first 6 months of sales in retail stores in Canada with our new Zoglo's Incredible™ products, I would like to give you a quick update on our progress and what lies ahead. We are extremely proud of what we have been able to achieve in a very short period of time. At the end of September, our 12 new Zoglos Incredible™ products first hit the market. Walmart was the first retailer to receive distribution, followed closely by Metro Ontario and Calgary Co-Op. Both Metro and Calgary Co-Op listed all 12 products. In my many years in this industry, I don’t remember ever seeing a manufacturer launch 12 new products at once, let alone having major retailers take all 12!!

Since that time, we have continued to enhance our distribution to include the following retailers: Sobeys, Food Basics, Quality Foods, and Freshco (all 12 products). Over the next month, we will also gain distribution in RCSS (which will greatly increase our presence in Western Canada) and Fortinos. By September, we expect to close more major distribution gaps in Canada that remain after these new partners join the list. Our response from retailers and consumers has been very positive to date. Recently, we have had some strong feature activity from Metro Ontario, which will be followed by equally aggressive activity at Freshco and Walmart nationally. All of this activity is high profile within their ads and will result in unprecedented awareness building and trial for Zoglos Incredible™ with Canadian consumers.

What lies ahead?

Growth.

We recently partnered with a couple of boutique sales agents and together we are currently having discussions with major retailers in the U.S. As you all know, one major retailer in the U.S can result in sales that could rival our entire Canadian business. We are also looking at innovation and seeing what makes sense for us to add to our portfolio in this rapidly changing and evolving category. In addition, we will continue to look at our current products and see if there are any opportunities to enhance our ingredients, flavours and improve our nutritional components.

To recap,

it has been an exciting and productive first 6 months in the market for Zoglo's. Having said that, we continue to watch our stock price slide as we continue to make progress in the market. We believe that our stock price is extremely undervalued currently, particularly in comparison to other companies in this space. However, we are committed and will continue to build our business aggressively and responsibly and trust the stock price will follow suit soon.

Sincerely,
Anthony Morello
CEO – Zoglo's Incredible™

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