Sweet Poison Announces Debt Settlement and Private Placement

Trading Symbol: SPS

NOT FOR DISTRIBUTION IN THE UNITED STATES

News Release

Sweet Poison Announces Debt Settlement and Private Placement

Vancouver, British Columbia –Sweet Poison Spirits Inc. (CSE: SPS) (the “Company” or “Sweet Poison") announces that its Board of Directors has approved resolutions regarding a debt settlement and proposed private placement.

Debt Settlement: The Company has arranged to settle certain outstanding debt with two insiders in the aggregate amount of $134,240 through the issuance of up to 2,684,800 shares at a price of $0.05 per share (the "Debt Settlement").

The proposed Debt Settlement involves amounts owing to non-arm's length parties, with $64,500 owing to the Company's Chief Executive Officer and $69,740 owing to the Chief Financial Officer and companies controlled by him, as follows:

1. to the CEO: $25,500 in funds advanced and $39,000 in unpaid management fees over the last 13 months; and
2. to the CFO: $25,500 in funds advanced, $35,000 in unpaid management fees over the last 14 months, and $9,240 in office fees and reimbursements.

Private Placement: The Company also announces that it has arranged a non-brokered private placement of up to $450,000 (the "Financing") through the issuance of up to 9,000,000 units (the “Units”) at a price of $0.05 per Unit. Each Unit will be comprised of one common share and one common share purchase warrant (“Warrant”), with each Warrant entitling the holder to purchase one common share of Sweet Poison at a price of $0.075 per share for a period of 24 months from closing.

ON BEHALF OF THE BOARD

(Sgd.) “Robert Eadie”
Robert Eadie, President, Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT:

Contact: Robert Eadie
Telephone: 1-604-602-4935 ext. 205

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Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains "forward-looking” statements and information (“forward-looking statements”). All statements, other than statements of historical facts, including, without limitation, management's expectations and the completion of the private placement announced herein, are forward looking statements. Forward-looking statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company's management and reflect the beliefs, opinions, and projections on the date the statements are made. Forward-looking statements involve various risks and uncertainties and accordingly, readers are advised not to place undue reliance on forward-looking statements. 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. The Company assumes no obligation to update forward-looking statements or beliefs, opinions, projections or other factors, except as required by law.