Lobe Sciences Ltd. — Regulatory Filings 2021

Jan 9, 2021

Form 51-102F3 Material Change Report

Item 1

Name and Address of Company

Lobe Sciences Ltd. (“Lobe” or the “Company”) Suite 1400, 1199 West Hastings Street Vancouver, BC V6E 3T2

• Item 2

Date of Material Change

January 8, 2021

• Item 3 News Release

The news release was disseminated on January 8, 2021 through Newsfile Corp. and filed on SEDAR.

• Item 4 Summary of Material Change

The Company announced the appointment of Michael Petter as a director of the Company and the resignation of Thomas Baird from the position of director of the Company.

Item 5.1 Full Description of Material Change

Please see attached Schedule “A”.

Item 5.2 Disclosure for Restructuring Transactions

Not applicable

• Item 6 Reliance on subsection 7.1(2) or (3) of National Instrument 51-102

Not Applicable

• Item 7 Omitted Information

No significant facts remain confidential in, or no information has been omitted from, this report.

Item 8 Executive Officer

For more information, please contact Jonathan Gilbert Tel: 949-505-5623

• Item 9 Date of report:

January 8, 2021

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Schedule “A”

LOBE SCIENCES ANNOUNCES CHANGES TO BOARD OF DIRECTORS

Appointment of Michael Petter to the Board brings another seasoned board member with strong industry, capital markets and strategic planning expertise.

January 8, 2021 Vancouver, British Columbia – Lobe Sciences Ltd. (" Lobe " or the " Company ") (CSE: LOBE) (OTC Pink: GTSIF) is pleased to announce the appointment of Mr. Michael Petter as an independent director to the Company’s Board of Directors, effective immediately. Mr. Petter replaces Thomas Baird, who resigned from the Company’s Board of Directors effective today, but still remains CEO of the Company.

Michael Petter is an accomplished leader and entrepreneur with significant experience in the psychedelics and cannabis industry, co-founding and acting as a director of several companies that successfully completed M&A transactions. He holds a Bachelors in Computer Science from London University, is a Chartered Engineer and private pilot. Since January 2009, he has been the Managing Director of Eyvo eProcurement Solutions, a USbased private company that is a leading eProcurement provider in the SaaS space. He also runs a business mentoring program that assists businesses and individuals with change management.

Mr. Petter has significant psychedelic and cannabis industry expertise. Mike was co-founder and director of Eleusian Biosciences Corp., which the Company acquired in July 2020. He also co-founded and was a director of Tassili Life Sciences Corp. which was acquired by CSE-listed Champignon Brands Inc. in March 2020. Mr. Petter has independent board experience being chairman of a compensation committee and as a member of an audit committee. His executive advisory skills focus on providing guidance on strategy, operations, finance and logistics.

Jonathan Gilbert, Executive Chairman of Lobe states, “We are extremely pleased to have Mike join our team with his extensive leadership and industry expertise. I have had the privilege of working with him co-founding several companies including Tassili and Eleusian. Michael is a successful businessman and his experience as a seasoned board member in our industry will be extremely valuable to the Company as we continue to drive innovation, and strive to be a leader in this exciting and emerging industry.”

The Company would also like to thank Mr. Baird for his contributions to the Board of Directors.

About Lobe Sciences Ltd.

Lobe is a growth-oriented research, technology & services company that provides financial, management, IP and branding support to businesses. The Company operates a portfolio of companies focused on developing transformational medicines and applies refined strategies to help partner companies reach their full potential. Based in Vancouver, BC, Lobe Sciences creates value through acquisitions and development of assets, products and technologies by leveraging its scientific, engineering, branding and operational expertise supported by strong capital markets acumen.

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For further information please contact:

Lobe Sciences Ltd.

Jonathan Gilbert, Executive Chairman info@lobesciences.com Tel: (949) 505-5623

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Disclaimer for Forward Looking Statements

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact included in this release, including statements regarding the future plans and objectives of the Company, growth of the business, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are risks detailed from time to time in the filings made by the Company with securities regulations. Readers are cautioned that assumptions used in the preparation of the forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including changes to the regulatory environment; and that the current Board and management may not be able to attain the Company's corporate goals and objectives. As a result, the Company cannot guarantee that any forwardlooking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Forwardlooking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made only as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as expressly required by applicable Canadian securities laws.