SmartKem, Inc. Announces DTC Eligibility of its Common Stock

MANCHESTER,England,Dec. 31,2021 --SmartKem,Inc. (OTCQB: SMTK),a company seeking to reshape the world of electronics with a revolutionary semiconductor platform that enables a new generation of displays,sensors and logic,announced today that it has received confirmation from the Depository Trust Company ("DTC") that its shares of common stock are now eligible for electronic clearing and settlement through DTC in the United States.

SmartKem CEO,Ian Jenks,commented,"We're delighted that we now have DTC approval and will soon be trading our common stock on the OTCQB. We look forward to inviting existing and prospective investors to be a part of SmartKem's ambition to continue to grow and facilitate the future generation of electronics."

DTC is a subsidiary of the Depository Trust & Clearing Corporation,a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered "DTC eligible".

DTC eligibility is expected to simplify the process of trading and enhance liquidity of the Company's common shares in the United States. With DTC eligibility,existing investors benefit from potentially greater liquidity and execution speeds,whilst opening the door to new investors that may have been previously restricted from the Company's common shares.

SmartKem will be trading on the OTCQB market of OTC Markets Group Inc.,under the symbol "SMTK". SmartKem's OTCQB information can be found on the OTC Markets website: www.otcmarkets.com/stock/SMTK/overview

About SmartKem

SmartKem is seeking to reshape the world of electronics with a revolutionary semiconductor platform that enables a new generation of displays,sensors and logic. SmartKem's patented TRUFLEX® inks are solution deposited at a low temperature,on low-cost substrates to make organic thin-film transistor (OTFT) circuits. The company's semiconductor platform can be used in a number of applications including mini-LED displays,AMOLED displays,fingerprint sensors and integrated logic circuits. SmartKem develops its materials at its research and development facility in Manchester,UK,and its semiconductor manufacturing process at the Centre of Process Innovation (CPI) at Sedgefield,UK. The company has an extensive IP portfolio including approximately 120 issued patents. For more information,visit: https://www.smartkem.com/ and follow us on Twitter at @SmartKemTruFLEX

Forward-Looking Statements

All statements in this press release that are not historical are forward-looking statements,including,among other things,statements relating to the SmartKem's expectations regarding its market position and market opportunity,expectations and plans as to its product development,manufacturing and sales,and relations with its partners and investors. These statements are not historical facts but rather are based on SmartKem Inc.'s current expectations,estimates,and projections regarding its business,operations and other similar or related factors. Words such as "may," will," "could," "would," "should," "anticipate," "predict," "potential," "continue," "expect," "intend," "plan," "project," "believe," "estimate," and other similar or elated expressions are used to identify these forward-looking statements,although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks,uncertainties,and assumptions that are difficult or impossible to predict and,in some cases,beyond the Company's control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors,including those described in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future,even if new information becomes available.