BioHarvest Sciences Inc. (NASDAQ:BHST) (TASE: BHST) (FSE: 8MV0) ("BioHarvest" or the "Company"), a Botanical Synthesis company developing and manufacturing proprietary plant-based compositions for customers, partners and its own portfolio, announced today that its Board of Directors has authorized a share repurchase program, structured in accordance with Canadian practices as a normal course issuer bid (the "NCIB").

The Company's Board of Directors believes that the market price of the Common Shares may not fully reflect the underlying value of the Company's business and future growth prospects. Consequently, the Board believes that adding the flexibility to strategically repurchase Common Shares represents an advantageous and effective allocation of capital that is in the best interests of the Company and its shareholders.

Under the terms of the NCIB, the Company will purchase up to 5% of its outstanding common shares (the maximum percentage allowed in any 12-month period under a normal course issuer bid), equating to a maximum of 1,133,392 shares. The NCIB will not commence earlier than 5 days following this announcement and will terminate on the earlier of: (i) 12 months from the start of the NCIB (ii) the date on which the maximum number of Common Shares authorized under the NCIB have been purchased, or (iii) the date on which the NCIB is earlier terminated at the option of the Company.

All purchases made under the NCIB will be executed through the facilities of Nasdaq Stock Market ("Nasdaq") in accordance with Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended, and in such a manner to satisfy the safe harbor requirements of Rule 10b-18.

Purchases will be made by the Company in the open market at prevailing market prices at the time of acquisition. The actual number of Common Shares repurchased, the timing of any repurchases, and the price at which they are bought will be determined at the discretion of management, subject to applicable securities laws. All Common Shares repurchased under the NCIB will be retired.