Calgary, Alberta--(Newsfile Corp. - December 1, 2022) - High Mountain 2 Capital Corporation (TSXV: HMCC.P) (the "Corporation" or "HM2") provides the following update concerning its proposed arm's length qualifying transaction (the "Transaction") announced September 28, 2022, involving a proposed business combination with Interactive Health, Inc. ("IHI"), a private company incorporated under the laws of British Columbia.

The Corporation and IHI entered into an agreement on November 30, 2022 to amend the non-binding letter of intent between the Corporation and IHI dated September 27, 2022 (the "LOI") with respect to the Transaction (the "Amending Agreement"). The Amending Agreement extends the deadline for entering into a formal agreement for the Transaction (the "Formal Agreement") from November 30, 2022, to February 15, 2023. All other terms of the LOI remain unamended.

It is intended that the Transaction, when completed, will constitute the Corporation's "Qualifying Transaction" in accordance with Policy 2.4 of the TSX Venture Exchange ("Exchange"). The Transaction is subject to the approval of the Exchange, execution of the Formal Agreement, and completion of private placement financings (as more particularly described in the news release of the Corporation dated September 28, 2022), as well as other closing conditions customary for a transaction of this nature. A comprehensive news release will be issued by the Corporation disclosing details of the Transaction. Trading in the common shares of the Corporation will remain halted and is not expected to resume trading until the Transaction is completed or until the Exchange receives the requisite documentation to resume trading.

For further information, please contact:

High Mountain 2 Capital Corporation
William Kanters - President, Chief Executive Officer, and Director
Phone: (403) 619-7118

Interactive Health, Inc.
Abdul Karim Qayumi - President, Chief Executive Officer, and Director
Phone: (604) 250-7013

Forward-Looking Information Cautionary Statement

Certain statements contained in this press release constitute forward-looking information including, but not limited to, statements with respect to Exchange approval, the execution of a Formal Agreement, and the completion of private placement financings. The use of any of the words "will", "expected", "view" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, statements pertaining to the terms and completion of the Transaction constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statement made in this press release are made as of the date hereof. The Corporation disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

Completion of the Transaction is subject to a number of conditions, including but not limited to, execution of the Formal Agreement relating to the Transaction, completion of satisfactory due diligence, Exchange acceptance, receipt of requisite regulatory approvals, and if applicable pursuant to Exchange requirements, majority of the minority shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approvals, and any ancillary matters thereto, are obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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