Elixxer Ltd. Provides Update on Continuous Disclosure Filings Following Temporary Relief by the Canadian Securities Administrators

MONTRÉAL, July 02, 2020 (GLOBE NEWSWIRE) -- Elixxer Ltd. (the "Corporation” or "Elixxer”) (TSX-V: ELXR and OTC-QB: ELIXF) provides update further to its press release of June 1, 2020 pursuant to which the Corporation announced that it would postpone the filing of its interim financial statements for the three-month period ended March 31, 2020, the accompanying management’s discussion and analysis and the related CEO and CFO certifications (collectively, the "Interim Filings”) by relying on the blanket exemption provided by the Autorité des marchés financiers and similar exemptions provided by the other members of the Canadian Securities Administrators granting an additional 45 days to complete their regulatory filings due to logistics and delays caused by the COVID-19 pandemic.

The Corporation is continuing to work diligently and expeditiously to complete the Interim Filings and expects to file the Interim Filings on or prior to the extended deadline of July 16, 2020.

Until such time as the Interim Filings are filed, Elixxer’s management and other insiders will continue to be subject to a trading black-out that reflects the principles in Section 9 of Policy Statement 11-207.

The Corporation confirms that since the issuance of its press release dated June 1, 2020, there have been no material business developments other than those that have been publicly disclosed as required under applicable securities laws and stock exchange requirements.

About Elixxer Ltd. (www.elixxer.com)

Elixxer Ltd. is a leading cannabis investment firm with a focus on the legal global cannabis market. Through its growing portfolio of investment companies, ELXR is building a transversal integrated organization of interconnected legal cannabis companies with cultivation, processing and distribution in Australia, Jamaica, Switzerland, Italy, and Canada serving domestic and export markets. Elixxer Ltd. is a Canadian incorporated public company listed on the TSX Venture Exchange (TSX-V: ELXR) and the US OTC-QB exchange (OTCQB: ELIXF).

For further information please contact:

President, John McMullen, +1-416-803-0698, john@elixxer.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.

Notice Regarding Forward Looking Statements

This press release may contain forward-looking statements with respect to Elixxer and its operations, strategy, investments, financial performance and condition. These statements can generally be identified by use of forward-looking words such as "may”, "will”, "expect”, "estimate”, "anticipate”, "intends”, "believe” or "continue” or the negative thereof or similar variations. The actual results and performance of Elixxer could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, government regulation and the factors described under "Risk Factors and Risk Management” in Elixxer’s most recent Management’s Discussion and Analysis filed on SEDAR (www.sedar.com). The cautionary statements qualify all forward-looking statements attributable to Elixxer and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release, and Elixxer has no obligation to update such statements, except to the extent required by applicable securities laws.