PRESS RELEASE

Geneva, NEW YORK – August 10, 2022, Cirona Labs (“Cirona”), a New York-based cannabinoid ingredient supplier, has announced a new manufacturing agreement to enter the Thailand hemp market. The partnership is formed with Siam Herbal Tech (“SH”), one of Thailand’s leading providers of natural therapeutics and the first company in Southeast Asia to extract hemp-derived CBD for commercial purposes.

The agreement will enable Cirona’s best-in-class liquid emulsion technology to be combined with SH’s quality extraction capabilities, enabling new possibilities for CBD products in Southeast Asia. With a manufacturing agreement now set in place, SH and Cirona will collaborate on the commercialization of several functional beverages, tinctures, and topicals. Teams expect the first infused products to appear on shelves in late 2022.

“We are incredibly excited to announce our entry into the Thai market and are honored to work with our partners in Southeast Asia,” said Hunter Friedland, Founder & CEO of Cirona Labs. “We continue to be impressed with SH’s quality standards, production sophistication, and executive leadership. Combined with our deep library of water-soluble ingredients we can explore endless opportunities with CBD infusion.”

“Our team at SH is proud to work with Cirona Labs on CBD ingredients,” said Thanin Srisethi, Director of SH. “Developing high-quality water-soluble CBD is crucial for the growth of the commercial hemp industry in Thailand and Asia. This milestone provides important momentum for our cannabinoid industry.”

Thailand is an exciting growth market for Cirona as evolving regulations have legalized the use of CBD in food, beverage, and cosmetic products. With a functional beverage market valued at 7 billion THB ($200 million USD), hemp is poised to be an important ingredient in consumer product innovation.

About Cirona Labs

Cirona Labs is a premier supplier of water-soluble cannabinoids, with a heavy focus on emulsion chemistry and food science. Using advanced emulsion technology, their team has developed over 1,000 qualified blends of liquid emulsions and spray-dried powders. These ingredients power a variety of infused products, from beverages to tinctures to topicals.

Based in upstate New York, Cirona Labs is partnered with Cornell University’s Technology Farm, where the team works closely with some of the top academics to continue innovation in hemp. Cirona’s ingredients are made without preservatives, are cGMP-certified, and tested by trusted third-party labs. For more information, visit http://cironalabs.com/.

About Siam Herbal Tech

Siam Herbal Tech is a joint venture formed between DOD Biotech PCL (DOD) and the MFUSED
Group (MFUSED).

DOD is the only publicly listed one-stop solution OEM/ODM nutraceutical, dietary supplements, and cosmetics in Thailand with years of experience in manufacturing under a GMP, ISO, HACCP and FDA compliances environment.

MFUSED Group is the pioneer of hemp and cannabis processing with more than a decade of experience in extracting and manufacturing in the US market and is a multi-states operator, vertically integrated in the plant-based therapeutics value chain.

Siam Herbal Tech’s mission is to combine best-in-class technology, proven experience, and strict quality standards, to consistently produce the highest-grade plant-based therapeutic compounds for Southeast Asian markets.

SH offers an extensive hemp supply chain in Thailand, including an in-house GHP HACCP extraction facility and a network of grow and cultivation partner networks. This has allowed SHT to pioneer new milestones in CBD, and was the first company in Southeast Asia to extract hemp-derived CBD for commercial purposes. For more information, visit https://siamherbaltech.com/.