Auralite Completes Strategic Investment Into Craft Mushroom Distributor and Formulator, Champignon Brands Inc.; Establishes Formal Health and Wellness Investment Committee and Appoints New Director

VANCOUVER, British Columbia, July 17, 2019 (GLOBE NEWSWIRE) -- Auralite Investments Inc. (TSX Venture-AAAA) (the "Company" or "Auralite"), is pleased to announce its completion of a C$150,000.00 strategic investment into British Columbia based craft mushroom distributor and product formulator, Champignon Brands Inc. ("Champignon").

Champignon is a private research driven company specializing in the formulation and end distribution of a suite of premium artisanal mushroom health supplements, with the objective of promoting holistic health and wellness. Champignon is equipped with proprietary formulations for three flagship mushroom extract-infused tea blends and is in the process of conducting extensive taste and product quality tests. Further information is available on Champignon's website which may be accessed through the following URL:

•  https://champignonbrands.com/

In connection with the Company's strategic investment into Champignon, Auralite has amended its investment policy to include the health and wellness sector and has formally assembled a dedicated health and wellness investment committee to explore complementary investments within this burgeoning industry. Auralite is of the belief that the health and wellness sector provides significant opportunities and the Company looks forward to evaluating potential investments.

Robert Meister, Chief Executive Officer and a director of Auralite stated: "The global mushroom market accounted for US$38.13 billion in 2017 and is forecasted to expand at a CAGR of 7.9 per cent from 2018 to 2026¹. This growth will be further bolstered by the increasing demand for meat substitutes, as well as shifting consumer preference towards plant-based foods. Leveraging its newly formed health and wellness committee, Auralite will look to actively pursue alpha generating investments within this flourishing sector."

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Auralite is also pleased to announce the appointment of Peter Nguyen to its board of directors. Mr. Nguyen is a Chartered Professional Accountant and an alumnus of the University of British Columbia. Mr. Nguyen serves as the CFO of two publicly traded international cannabis corporations and was instrumental in managing the financial operations and the vertically integrated business strategies. In addition, Mr. Nguyen serves as an officer and director of several publicly traded companies in a variety of industries. Mr. Nguyen has more than 10 years of experience in various financial reporting and business strategy positions and has held several senior financial positions for public and private entities where he provide assurance, corporate financing, tax and business advisory services.

Mr. Nguyen replaces Jason Morton who has resigned as a director effective July 16, 2019. The Company would like to thank Mr. Morton for his service and contribution to date.

ABOUT AURALITE

Auralite is an investment issuer with interests in Singapore-based EVVO Labs Pte. Ltd., South Korea-based Fourth-Link Inc., and Canada-based Champignon Brands Inc.

ON BEHALF OF AURALITE INVESTMENTS INC. BOARD OF DIRECTORS

"Robert Meister"

For more information contact:
(604) 351-6647

Or Email: [email protected] 
http://www.auraliteinvestments.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 news release.

This news release contains forward-looking statements including statements regarding the Company's plans to pursue investments in the health and wellness sector, management's beliefs as to potential opportunities in the health and wellness sector and the increase in demand for mushrooms as a result of a shift to plant-based meat substitutes, as well other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, investor interest in the business and future prospects of the Company.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.