Benzinga | Dec 14, 2021 01:31AM EST

AREV Life Sciences Settles Pending Litigation with Harvey

VANCOUVER, BC TheNewswire -December 09, 2021-AREV Life Sciences Global Corp. (CSE:AREV) (CSE:AREV) (OTC:AREVF) ("AREV")is pleased to announce that it has reached a confidential settlement with Matthew Harvey, the vendor of the BC Bud Depot Assets, during aformalmediationprior to Trial.

The Company announced on January 31, 2020 that the Company had commenced litigation in the Supreme Court of British Columbia over the breaches of Agreement by the Defendant, Matthew Harvey, the vendor of the BC Bud Depot Assets.

The Company isverypleased with the outcome of the mediation, but cannot disclose the details of the settlementas the Mediation process is confidential.

Mr. Withrow, stated "Although the details of the transaction must remain confidential, the Company isconfidentthatit hasachievedan excellentoutcome for the Company and will be able toincreasethe shareholders' valuegiventhe assetswhichwill bedeliveredto the Company". He went on to say, "We want to thank all those that worked diligently to make this happen.We gainedassetson behalf of the Company and itsshareholders and also avoideda costly trial.We consider this a win for the Company and its shareholders."

For further information, contact Mike Withrow, arevlifesciences@gmail.com 778-929-6536. For more information visit www.arevlifesciences.com.

On behalf of the Board,

Mike Withrow

CEO & Director

About AREV Life Sciences Global Corp.

AREV is an early-stage life science discovery enterprise dedicated to delivering solutions to public health through discovery, collaborations in the life science industry, and pathogen remediation. AREV is invested in commercial innovations in phytomedicinal discoveries of small molecule antivirals and for related neglected chronic co-morbidities and innovations human nutrition including the late-stage development of a Ready-to-Use Therapeutic Food (RUTF) for Severe Acute Malnutrition (SAM) and an Enteral Formula targeting the long-term effects of chronic infection. AREV is dedicated to designing and delivering innovation in rational drug design, driven by presenting global epidemiological characteristics of multiple challenges to international human and animal health. AREV is a member of both BIOTECanada and The Biotechnology Innovation Organization (BIO).

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

FORWARD LOOKING INFORMATION

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required

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address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks various risk factors discussed in the Company's Management's Discussion and Analysis under the Company's profile on www.sedar.com.

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