Artelo Biosciences Engineers Reverse Stock Split

*SOLANA BEACH, Calif. —* The Artelo Biosciences Inc. board of directors
approved a 6-for-1 reverse stock split of the company’s common stock. The
shares will begin trading on a split-adjusted basis on the Nasdaq Capital
Market commencing at market open June 13. The Board of Directors determined
the 6-for-1 ratio to be appropriate in order to increase the price per
share of the vommon stock to meet the continued listing requirement of the
Nasdaq Stock Market of a minimum of $1 per share closing bid price. The new
CUSIP number for the Common Stock following the Reverse Split will be
04301G607.

As a result of the Reverse Split, each six shares of the Company’s issued
and outstanding common shares automatically will be combined and converted
into one issued and outstanding share. Each shareholder’s pro-rata
percentage ownership will remain unchanged as a result of the reverse split
and no further action is required by shareholders. All of the company’s
current outstanding warrants to purchase shares of common stock and other
derivatives automatically adjust per their terms to reflect the reverse
split.

Immediately after the reverse split becomes effective, there will be
approximately 546,667 shares of common stock issued and outstanding
About Artelo Biosciences

Artelo Biosciences Inc. is a clinical-stage pharmaceutical company
dedicated to the development and commercialization of proprietary
therapeutics that modulate lipid-signaling pathways. Artelo is advancing a
portfolio of broadly applicable product candidates designed to address
significant unmet needs in multiple diseases and conditions, including
anorexia, cancer, anxiety, dermatologic conditions, pain, and inflammation.
Led by biopharmaceutical executives collaborating with researchers and
technology experts, the company applies leading-edge scientific,
regulatory, and commercial discipline to develop high-impact therapies.