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Monday, 10/15/2018 4:26:04 AM

Monday, October 15, 2018 4:26:04 AM

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Level Brands, Inc. Announces Closing of $6.9 Million Public Offering

(BUSINESS WIRE)-- Level Brands, Inc. (NYSE American: LEVB) (the “Company”), an innovative marketing and licensing company that provides bold, unconventional, and socially responsible branding for leading businesses, today announced the closing of its previously announced underwritten public offering for total gross proceeds of $6,899,998, before deducting underwriting discounts, commissions and other offering expenses payable by the Company. The Company sold an aggregate of 1,971,428 shares of its common stock at a purchase price of $3.50 per share in this offering, which included the full exercise of the over-allotment option of 257,142 shares of common stock. The Company intends to use the net proceeds from the offering for brand development and expansion, acquisitions and general working capital.

ThinkEquity, a division of Fordham Financial Management, Inc., acted as sole book-running manager for the offering.

The shares described above were offered by Level Brands, Inc. pursuant to a registration statement on Form S-1 (Registration No. 333-227529) previously filed with the U.S. Securities and Exchange Commission (“SEC”) and declared effective on September 28, 2018. A final prospectus relating to this offering was filed with the SEC on September 28, 2018. The offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained by contacting ThinkEquity, 17 State Street, 22nd Floor, New York, NY 10004, telephone (646) 968-9355, email: prospectus@think-equity.com. Investors may also obtain these documents at no cost by visiting the SEC's website at http://www.sec.gov.