Grove, Inc. Announces Pricing of $11.0 Million Initial Public Offering and Nasdaq Listing

HENDERSON, NV – (NewMediaWire) – June 23, 2021 – Grove,
Inc. (NASDAQ:GRVI) (“Grove” or the “Company”), today announced the pricing of an underwritten
initial public offering of 2,200,000 shares of common stock at a public
offering price of $5.00 per share for gross proceeds of approximately $11.0
million, prior to deducting underwriting discounts, commissions, and other
offering expenses. In addition, the Company has granted the underwriters a
45-day option to purchase up to an additional 330,000 shares at the public
offering price less the underwriting discounts and commissions. The offering is
expected to close on or about June 28, 2021, subject to satisfaction of
customary closing conditions.

The Company has received approval to list
its common stock on the Nasdaq Capital Market under the symbol “GRVI”, with
trading expected to begin on June 24, 2021.

EF Hutton, division of Benchmark Investments, LLC, is acting as the sole
book-running manager for the offering.

A registration statement relating to these securities was declared effective
by the Securities and Exchange Commission on June 23,
2021. A final prospectus relating to this offering will be
filed with the SEC. The offering is being made only by means of a prospectus,
copies of which may be obtained, when available, from:
EF Hutton, division of Benchmark Investments LLC, 590 Madison Avenue, 39^th
Floor, New York, NY 10022, Attention: Syndicate Department, or via email
at syndicate@efhuttongroup.com or telephone at (212) 404-7002.

This press release shall
not constitute an offer to sell or the solicitation of an offer to buy any of
the securities described herein, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.

About Grove, Inc.

Grove, Inc. is in the
business of developing, producing, marketing and selling raw materials, white
label products and end consumer products containing the industrial hemp plant
extract, Cannabidiol (“CBD”). The Company sells to numerous consumer markets
including the botanical, beauty care, pet care and functional food sectors. It
seeks to take advantage of an emerging worldwide trend to re-energize the
production of industrial hemp and to foster its many uses for consumers.

Forward-Looking
Statements

This press release
contains statements that constitute “forward-looking statements,”
including with respect to the Company’s initial public offering. No assurance
can be given that the offering will be completed on the terms described, or at
all. Forward-looking statements are subject to numerous conditions, many of which
are beyond the control of the Company, including those set forth in the Risk
Factors section of the Company’s registration statement and preliminary
prospectus for the offering filed with the SEC. Copies are available on the
SEC’s website, www.sec.gov. The Company undertakes no obligation to update
these statements for revisions or changes after the date of this release,
except as required by law.

Company
Contact

Andrew
Norstrud

Email:
investorinfo@cbd.io

Phone:
(702) 332-5591

Investor
Relations Contact

TraDigital
IR

John
McNamara

Email:
john@tradigitalir.com

Phone:
(917) 658-2602