EastWest Announces Resignation of CFO and Appointment of Interim CFO

PENTICTON, BC, January 6, 2021 – EastWest Bioscience Inc. (“EastWest” or the “Corporation“) announces that the Corporation has appointed Ciska Asriel to serve as interim Chief Financial Officer, in addition to her regular duties as Chief Operating Officer. Ms. Asriel will replace Paul Marjerrison as Chief Financial Officer and the Corporation would like to thank Mr. Marjerrison for his dedicated service.

Ciska Asriel is the current Chief Operating Officer of the Corporation. Ms. Asriel has degrees in Economics, Finance and Computer Science with an MBA in International Business. Before joining EastWest as a Co-Founder and Chief Operating Officer, Ms. Asriel worked as a consultant, senior analyst and project manager for small companies as well as major firms including Deloitte. Her career experience is with project management, data analysis and business development in industry sectors including information technology, retail franchise operations, automotive franchise operations and insurance, global shipping and most recently software engineering and the development of mobile applications. Ms. Asriel’s appointment is subject to approval by the TSX Venture Exchange.

About EastWest Bioscience Group

EastWest Bioscience is a vertically integrated wellness company with a multitude of business units and assets that allow for a seed-to-sale supply chain management. We source our raw material, process, manufacture, test, brand, market, and distribute our products to our customers in Canada, the United States, and beyond.

ON BEHALF OF THE BOARD OF DIRECTORS

EASTWEST BIOSCIENCE INC.

“Rodney Gelineau”

Chief Executive Officer and Director

TSXV – Symbol: EAST

For Further Information

Company Website: www.eastwestbioscience.com

Contact: Rodney Gelineau on 1-800-409-1930 or investors@eastwestscience.com.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the appointment of certain officers.  Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: management’s perceptions of the anticipated timeline in which the new appointment is complete, results of operations, operational matters, historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances.  There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.  The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.