Steel Hill Inc. Provides An Update

Toronto, Ontario--(Newsfile Corp. - July 25, 2022) - Steep Hill Inc. (CSE: STPH) ("Steep Hill" or the "Company"), a leading cannabis science and technology company, was named as one of several defendants in a complaint filed in the United States District Court for the Eastern District of Arkansas. The complaint, brought by purchasers of medical marijuana in Arkansas, on behalf of a proposed class, alleges that the Company's licensee, Steep Hill Arkansas, and Arkansas based cannabis cultivators, violated federal laws prohibiting the cultivation and sale of marijuana and overstated the amount of THC in certain cannabis products.

Steep Hill Arkansas is an independent operator, licensed to conduct cannabis testing in Arkansas under the Steep Hill brand. Steep Hill stands by the quality of its laboratory methodologies which are industry leading, believes the claims filed against it are meritless, and intends to promptly move to dismiss the complaint.

ABOUT STEEP HILL

Steep Hill is a science and technology company focused on providing products and services, including analytical testing services within the hemp and cannabis market sectors. The Company's focus is on two areas: science and technology, by providing science-backed differentiated products and services that are critical within these sectors; and quality and compliance, by offering services that assist its customers to offer products and services that meet expected standards of quality, safety and compliance.

For further information, please contact:

Raj Ravindran - CFO

Christian Poole - VP of IR | Phone: (510) 562-74000 | [email protected]

www.steephill.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131784

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