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A Uniq ue I nve stme nt Ve hic le in L a b o ra to ry T e sting SAFE HARBOR STATEMENT Ce rta in sta te me nts c o nta ine d in this pre se nta tio n, inc luding , witho ut limita tio n, sta te me nts c o nta ining the wo rd s b e lie ve

SLIDE 1

A Uniq ue I nve stme nt Ve hic le in L a b o ra to ry T e sting

SLIDE 2

SAFE HARBOR STATEMENT

Ce rta in sta te me nts c o nta ine d in this pre se nta tio n, inc luding , witho ut limita tio n, sta te me nts c o nta ining the wo rd s “b e lie ve s,” “pla ns,” “e xpe c ts,” “a ntic ipa te s,” a nd wo rd s o f simila r impo rt, c o nstitute “fo rwa rd -lo o king sta te me nts” within the me a ning o f the Priva te Se c uritie s L itig a tio n Re fo rm Ac t o f 1995. Suc h fo rwa rd -lo o king sta te me nts invo lve kno wn a nd unkno wn risks, unc e rta intie s a nd o the r fa c to rs tha t ma y c a use the a c tua l re sults, pe rfo rma nc e o r a c hie ve me nts o f Dig iPa th, Inc . (to g e the r with Dig iPa th L a b s, I nc ., T he Na tio nal Ma rijua na Ne ws Co rp ., a nd the ir re spe c tive a ffilia te s, the “Co mpa ny” o r “Dig iPa th”) to b e ma te ria lly diffe re nt fro m a ny future re sults, pe rfo rma nc e o r a c hie ve me nts e xpre sse d o r implie d b y suc h fo rwa rd -lo o king sta te me nts. Suc h fa c to rs inc lude , a mo ng o the rs, the fo llo wing : the Co mpa ny's ne e d fo r a d d itio na l fund ing , g o ve rnme ntal re g ula tio n o f the c a nna b is ind ustry, the d e ma nd fo r the Co mpa ny's pro d uc ts, the intro d uc tio n o f ne w pro d uc ts, the Co mpa ny's a b ility to ma inta in c usto me r a nd stra te g ic b usine ss re la tio nships, the impa c t o f c o mpe titive pro d uc ts a nd pric ing , g ro wth in ta rg e te d ma rke ts, the a d e q ua c y o f the Co mpa ny's liquid ity a nd fina nc ia l stre ng th to suppo rt its g ro wth, the Co mpa ny’ s a b ility to suc c e ssfully inte g ra te a ny a c q uisitio n it ma y ma ke , a nd o the r risks d e ta ile d in the mo st re c e nt q ua rte rly a nd a nnua l re po rts a nd o the r filing s. Give n the se unc e rta intie s, und ue re lia nc e sho uld no t b e plac e d o n suc h fo rwa rd -lo o king sta te me nts. T he Co mpa ny d isc la ims a ny o blig a tio n to upd a te a ny suc h fa c to rs o r to public ly a nno unc e the re sults o f a ny re visio ns to a ny o f the fo rwa rd -lo o king sta te me nts c o nta ine d he re in to re fle c t future e ve nts o r d e ve lo pme nts e xc e pt a s re q uire d b y la w. T his d o c ume nt is so le ly fo r info rma tio n purpo se s a nd is no t to b e c o nstrue d a s inve stme nt a d vic e o r a s a n o ffe r to se ll o r the so lic ita tio n o f a n o ffe r to b uy a ny se c urity in a ny sta te . T his d o c ume nt a nd its c o nte nts a re c o nfid e ntia l to the pe rso n(s) to who m it is d e live re d a nd sho uld no t b e c o pie d o r d istrib ute d , in who le o r in p a rt, o r its c o nte nts d isc lo se d b y suc h pe rso n(s) to a ny o the r pe rso n. Any p a rty re c e iving a nd / o r re vie wing this ma te ria l, in c o nsid e ra tio n the re fo re , a g re e s no t to c irc umve nt the b usine ss pro po sa ls e xplic itly o r implic itly c o nta ine d he re in in a ny ma nne r, d ire c tly o r ind ire c tly. F urthe r, a ny re c ipie nt he re o f a g re e s to ma inta in a ll info rma tio n re c e ive d in the stric te st c o nfid e nc e a nd sha ll no t d isc lo se to a ny third p a rtie s a ny info rma tio n ma te ria l to the o ppo rtunity c o nta ine d he re in a nd , upo n re vie w he re o f, a g re e s tha t a ny una utho rize d d isc lo sure b y a ny p a rty will re sult in irre pa ra b le d a ma g e fo r whic h mo ne ta ry d a ma g e s wo uld b e d iffic ult o r impo ssible to a c c ura te ly d e te rmine . Re c ipie nts re c o g nize , a nd he re b y a g re e , tha t the pro prie ta ry info rma tio n d isc lo se d he re in re pre se nts c o nfid e ntia l a nd valua ble pro prie ta ry info rma tio n a nd , the re fo re , will no t, witho ut e xpre ss prio r writte n c o nse nt, d isc lo se suc h info rma tio n to a ny pe rso n, c o mpa ny, e ntity o r o the r third pa rty, unle ss so d o ing wo uld c o ntra ve ne g o ve rning law o r re g ula tio ns. T his d o c ume nt is a n o utline o f ma tte rs fo r d isc ussio n o nly. T his d o c ume nt d o e s no t c o nstitute a nd sho uld no t b e inte rpre te d a s a d vic e , inc lud ing le g al, ta x o r a c c o unting a d vic e . T his pre se nta tio n inc lud e s sta te me nts tha t re pre se nt o pinio ns, e stima te s a nd fo re c a sts, whic h ma y no t b e re a lize d . We b e lie ve the info rma tio n pro vid e d he re in is re lia ble , a s o f the d a te he re o f, b ut d o no t wa rra nt a c c ura c y o r c o mple te ne ss. In pre pa ring the se ma te ria ls, we ha ve re lie d upo n a nd a ssume d , witho ut ind e pe nd e nt ve rific a tio n, the a c c ura c y a nd c o mple te ne ss o f a ll info rma tio n a va ila b le fro m pub lic a nd c o mpa ny so urc e s.

SLIDE 3

CORPORATE OVERVIEW

T he National Mar ijuana Ne ws Cor

p. pro vide s a b a la nc e d a ppro a c h to

c a nna b is ne ws, inte rvie ws, a nd e d uc a tio n with a ne ws/ ta lk ra dio sho w a nd na tio na l ma rijua na ne ws we b site fo c using

n the

po litic a l, e c o no mic , me dic ina l, sc ie ntific , a nd c ultura l dime nsio ns o f the ra pidly e vo lving , a nd pro fo undly c o ntro ve rsia l, me dic ina l a nd re c re a tio na l ma rijua na industry.

DigiPath L abs, Inc . is se tting the industry sta nda rd fo r te sting a ll

fo rms o f c a nna b is-b a se d pro duc ts using F DA-c o mplia nt la b o ra to ry e q uipme nt a nd pro c e sse s to re po rt pro duc t sa fe ty a nd e ffic a c y. I n Ma y 2015, the Co mpa ny o pe ne d its first te sting la b in L a s Ve g a s, Ne va da a nd ha s pla ns to o pe n la b s in o the r le g a l sta te s. Dig iPa th, I nc . (“Dig iPa th” o r “the Co mpa ny”) is a pub lic ly tra de d (OT CQB:DI GP) inde pe nd e nt la b o ra to ry te sting a nd me dia firm fo r the c a nna b is industry. T he Co mpa ny utilize s its e xpe rtise a nd e xpe rie nc e to pro vide re lia b le c a nna b is sa fe ty a nd po te nc y te sting , c a nna b is ne ws c o ve ra g e , a nd c o mpre he nsive ma rijua na e duc a tio n. 3

SLIDE 4

Growth of Legal Cannabis Market

*Annual Proje c tion of total value of the US Marke t, if all 50 state s we re le gal

*

SLIDE 5

GROWTH IN CANNABIS LAB TESTING

As le g a liza tio n spre a ds so do sta te ma nda te s fo r c a nna b is la b te sting fo r a n inc re a sing list o f re q uire me nts:

MOIST URE CONT E NT

HC POT E NCY - CANNABINOID PROF IL ING - T E RPE NOID PROF IL ING – PE ST ICIDE S HE AVY ME T AL S - MICROBIAL SCRE E N - MYCOT OXIN SCRE E NING - RE SIDUAL SOL VE NT S

Curre ntly, 15
f the 26 le g a l sta te s re q uire c ultiva tio n c e nte rs/ dispe nsa rie s to c o mply with va rio us la b te sting

re q uire me nts.

Gre e nWa ve Adviso rs, a n ind e pe nd e nt re se a rc h firm, pro je c ts lo ng -te rm re ve nue o f $553 million for lab te sting

alone if the U.S. le g a lize s c a nna b is o n a fe de ra l le ve l.

Whe n a dding in re la te d se rvic e s, suc h a s da ta a na lytic s a nd c o nsulting , the re ve nue po te ntia l c o uld surpa ss $866

million.

SLIDE 6

DIGIPATH LABS – LABORATORY TESTING

Dig iPa th L

a b s’ missio n is to pro vide pha rma c e utic a l-g ra de a na lysis a nd te sting to the c a nna b is industry to e nsure c o nsume rs a nd pa tie nts kno w e xa c tly wha t is in the c a nna b is the y ing e st a nd to he lp ma ximize the q ua lity o f its c lie nt’ s pro duc ts thro ug h re se a rc h, de ve lo pme nt, a nd sta nda rdiza tio n.

Dig iPa th L

a b s is c o mmitte d to fo llo wing Go o d L a b Pra c tic e s tha t a re in line with c urre nt F e de ra l a nd Sta te g o ve rning b o die s.

Dr. Cindy Orse r, Ph.D., a 20-ye a r b io te c h a nd dia g no stic industry ve te ra n, le a ds the se e ffo rts o n b e ha lf o f Dig iPa th, se rving

a s Chie f Sc ie nc e Offic e r a nd a ssists c a nna b is pro vide rs a nd re g ula to ry a g e nc ie s, a s we ll a s wo rking in a c a de mia in se ve ra l ke y ro le s. In a dditio n to he r wo rk, she ho lds 18 pa te nts a nd a utho re d 41 pe e r-re vie we d pub lic a tio ns.

Dig iPa th L

a b s b e g a n e a rning sub sta ntive re ve nue in Oc to b e r 2015 a nd ha s no w te ste d mo re tha n 1,700 c a nna b is pro duc t sa mple s, re pre se nting o ve r8,500 po unds o f c ure d flo we rfro m ma ny o f the 34 g ro we rs lic e nse d b y the Sta te o f Ne va da .*

*Note tha t pa st pe r

for ma nc e ma y not be indic a tive of futur e r e sults. T he r e for e , it should not be a ssume d tha t futur e pe r for ma nc e of Dig iPa th, Inc . (tog e the r with Dig iPa th L a bs, Inc ., T he Na tiona l Ma r ijua na Ne ws Cor p., a nd the ir r e spe c tive a ffilia te s) will be pr

fita ble or

e qua l the c or r e sponding indic a te d pa st pe r for ma nc e le ve l(s).

SLIDE 7

ENSURING SAFETY & COMPLIANCE

Dig iPa th L a b s sc re e ns me d ic ina l c a nna b is fo r its q ua lity, po te nc y, a nd c a nna b ino id a nd te rpe ne no id pro file s, a s we ll a s po te ntia lly ha rmful c o nta mina nts, inc luding :

Re sidua l so lve nts (fo r no n-CO2 e xtra c ts)
Pe stic ide s
He a vy me ta ls (inc luding me rc ury, a rse nic ,

le a d, a nd c a dmium)

Mo ld a nd ye a st
Bio lo g ic a l

to xins (suc h a s myc o to xins, a fla to xins, a nd o c ra to xins)

Mic ro b ia l c o nta mina nts (inc luding E

. c o li, sa lmo ne lla , Aspe rg illus, a nd fung i)

T
ta l a e ro b ic b a c te ria c o unt
Gra m ne g a tive b a c te ria

SLIDE 8

CREATING TESTING STANDARDS

he Co mpa ny

ffe rs c o mpre he nsive

me dic a l c a nna b is sa fe ty sc re e ning a nd a n inde pe nd e nt c e rtific a tio n syste m, inc luding the “Dig iPa th L a b s Ce rtifie d” c e rtific a tio n se a l.

Ce rtific a tio n se a ls a re

ma de a va ila b le to tho se c lie nts who se pro duc ts ha ve und e rg o ne a ll o f Dig iPa th te sts (a s a pplic a b le ), unle ss the sa mple in q ue stio n do e s no t me e t lo c a l re g ula to ry sta nda rds.

Dig iPa th Ce rtifie d Se a ls e nsure tha t Dig iPa th ha s te ste d the

pro duc t in q ue stio n, a nd influe nc e c o nsume r b uying de c isio ns b y c le a rly ma rking whic h b ra nds a re inve ste d in the pro duc ts tha t pro vide , va luing sa fe ty, e ffe c tive ne ss, a nd o ve ra ll q ua lity. Re c o g nizing tha t the le g a l c a nna b is industry’ s yo uthfulne ss ha s re sulte d in a la c k o f struc ture a nd o ve rsig ht, Dig iPa th de ve lo pe d its la b te sting so lutio ns a nd te c hno lo g y to c re a te struc ture a nd pro c e ss a nd , in the e nd , e nsure ma ximum c a nna b is sa fe ty thro ug h e duc a tio n, te sting , a nd c e rtific a tio n.

QUAL IT Y ASSURANCE

SLIDE 9

GENETIC TESTING SERVICES – STRAINSEEK™

Dig iPa th L a b s o ffe rs Stra inSE E K ™, a me dic ina l g e no mic s pro prie ta ry DNA se q ue nc ing se rvic e fo r the c a nna b is pla nt. T he se rvic e de te c ts a nd re c o rds the uniq ue g e ne tic pro file o f a ny c a nna b is stra in.

Stra inSE

E K ™ is the

pla tfo rm tha t e na b le s the pe rma ne nt dig ita l pub lishing o f a stra in’ s uniq ue g e ne tic I D fo r future re fe re nc e .

Stra inSE

E K ™ a llo ws fo r a n individua l stra in to b e ma ppe d a g a inst Me dic ina l Ge no mic s’ Ca nna b is Phylo g e ne tic T re e .

Stra inSE

E K ™ use rs c a n vie w the ir stra ins g e ne tic pro ximity to se ve ra l c a nna b is la nd ra c e s a s we ll a s ma ny mo de rn c ultiva rs. As the phylo g e ne tic tre e g ro ws, a distrib ute d c o nse nsus o n the a c c ura c y o f na ming c o nve ntio ns will e me rg e . T his will e nd the “stra in na me g a me ” a nd will pro vide me d ic a l c a nna b is pa tie nts with a me a ns to ide ntify me dic ina l stra ins with pro ve n the ra pe utic b e ne fits. 9

SLIDE 10

NEVADA LAB TESTING MARKET GROWS

he Co mpa ny ha s no w te ste d mo re tha n 1,700 c a nna b is sa mple s, re pre se nting o ve r 8500 po unds o f c ure d flo we r fro m 24 o f the 39 po te ntia l c usto me rs tha t ha ve b e e n g ra nte d lic e nse s o f o pe ra tio n fro m the Sta te o f Ne va da .

he Co mpa ny furthe r a ntic ipa te s tha t the numb e r o f po te ntia l c usto me rs with Sta te lic e nse s will mo re tha n do ub le to o ve r 70 b y the e nd o f 2016.*

n a dditio n, Ne va da ’ s po lic y

re c ipro c ity, i.e . a c c e pting me dic a l ma rijua na (MMJ) pa tie nts fro m

ut o f the

sta te , po sitio ns Ne va da to b e c o me a mo ng the la rg e st a nd fa ste st g ro wing MMJ ma rke ts in the c o untry. Dig iPa th g a ine d stro ng mo me ntum during the first ha lf o f 2016. T he Co mpa ny sig ne d thre e ne w c usto me rs to e xc lusive la b o ra to ry te sting c o ntra c ts in the se c o nd q ua rte r o f 2016, fo llo wing the fo ur ne w c usto me rs tha t we re sig ne d during the first q ua rte r.

50 100 150 200 250 300 May-15 Jun-15 Jul- 15 Aug-15 Se p-15 Oc t- 15 Nov-15 De c -15 Jan-16 F e b- 16 Mar

Apr-16 May-16

Cannabis Sample s T e ste d by Month

#…

L AB IS E QUIPPE D T O DO 200 SAMPL E S PE R DAY

*Note tha t the infor

ma tion c onta ine d in the for e c a st c onstitute s for wa r d- looking sta te me nts, whic h involve r isks a nd unc e r ta intie s. T he Compa ny's a c tua l r e sults ma y diffe r sig nific a ntly fr

m the for

e c a st for a numbe r

e a sons, inc luding fa ilur e to a c hie ve a ny of the a ssumptions unde r lying suc h for e c a st or a ny numbe r

isk fa c tor s inc luding the ina bility to r a ise suffic ie nt c a pita l. Se e Risk F a c tor

s. T

he Compa ny e xpr e ssly disc la ims a ny oblig a tions or unde r ta king to r e le a se a ny upda te s or r e visions to the for e c a st.

SLIDE 11

EVOLUTION AS A MARKET LEADER

hro ug h Dr. Cindy Orse r’ s wo rk with Ne va da sta te o ffic ia ls, Dig iPa th pio ne e re d c a nna b is la b te sting pro to c o ls in Ne va da ’ s imple me nta tio n o f the na tio n’ s mo st string e nt po lic ie s o n c a nna b is sa fe ty, whic h ha s po sitio ne d the c o mpa ny a s a ma rke t le a de r in c a nna b is la b te sting .

hro ug h the Co mpa ny’ s inva lua b le e xpe rie nc e in Ne va da , Dig iPa th ha s d e ve lo pe d a g re a te r und e rsta nding o f the nua nc e d ne e ds o f the industry a s we ll a s a n a b ility to na vig a te the c o mple x re g ula to ry e nviro nme nt a t the sta te le ve l re g a rding c a nna b is te sting .

Sta te s na tio nwid e a re lo o king to de ve lo p la b te sting po lic ie s simila r to Ne va da ’ s string e nt re q uire me nts, whic h

c re a te de ma nd fo r q ua lifie d la b o ra to rie s to pe rfo rm suc h te sting .

Dig iPa th is c urre ntly a ssisting re g ula to ry a utho ritie s in sta te s a nd lo c a litie s pro po sing ne w le g isla tio n in dra fting la b

te sting re g ula tio ns fo r le g a l c a nna b is sta te s.

Be ing invo lve d in the intro duc tio n o f the b e nc hma rk fo r re g ula tio ns in the industry ha s pro vide d a uniq ue ma rke t

a dva nta g e a nd o ppo rtunity to e sta b lish the Dig iPa th b ra nd o n the na tio na l le ve l. As a re sult, the Co mpa ny is po sitio ne d a s a first mo ve r in e a c h o f the ne w sta te s in whic h c a nna b is is de e me d le g a l. 11

SLIDE 12

LICENSING OPPORTUNITY EVOLVES

As a dditio na l sta te s, a nd c o untrie s, vo te o n a nd imple me nt le g a lize d c a nna b is pro g ra ms, ma ny will lo o k to de ve lo p la b te sting po lic ie s a nd pro c e d ure s simila r to Ne va da ’ s string e nt re q uire me nts. So will the ne wly lic e nse d la b te sting c o mpa nie s in the se ma rke ts. As suc h, Dig ipa th is in po sitio n to a c t a s a c o nsulta nt to the se sta te s/ c o untrie s, a nd la b te sting c o mpa nie s, re g a rding its o pe ra tio na l, te c hnic a l a nd b usine ss kno w ho w, inc luding :

a b fa c ility b uild o ut

Pa tie nt ma nua ls
Da ta a nd da ta a na lytic s
T

e sting pro to c o ls

Sta nda rd o pe ra ting pro c e dure s
E

duc a tio na l ma te ria ls

I MS (L a b o ra to ry I nfo rma tio n Ma na g e me nt Syste m)

Ma rke ting ma te ria ls

Dig ipa th will c o lle c t upfro nt a nd o ng o ing lic e nse fe e s a nd c o nsulting fe e s a s c o mpe nsa tio n. 12

SLIDE 13

THE NATIONAL MARIJUANA NEWS*

n Ma y 2014, the Co mpa ny e sta b lishe d a n o nline ra dio pro g ra m c a lle d T he Na tio na l Ma rijua na Ne ws (T NMNe ws).

NMNe ws e d uc a te s the pub lic re g a rding the po litic a l, e c o no mic , me dic ina l, sc ie ntific , a nd c ultura l dime nsio ns o f the ra pidly e vo lving a nd c o ntro ve rsia l me dic ina l a nd re c re a tio na l ma rijua na industry fro m dive rse a nd disse nting pe rspe c tive s with ne ws a nd inte rvie ws.

he Co mpa ny la unc he d T NMNe ws’ I nte rne t ra dio pro g ra m o n L ive 365 in 2014, (no w a t ra dio .c o m) a nd its po pula rity ha s c o ntinue d to g ro w. Ove r the 2015 fisc a l ye a r, the pro g ra m g re w fro m 120,000 to o ve r 190,000 stre a ms pe r mo nth.

he Co mpa ny a lso la unc he d its a pplic a tio n fo r b o th iOS a nd Go o g le Pla y a nd re -la unc he d its we b site , whic h no w re c e ive s o ve r 200,000 pa g e visits pe r mo nth.

NMNe ws F a c e b o o k pa g e ha s a lso g a rne re d o ve r 140,000 pa g e like s

*Note tha t pa st pe r

fita ble or

e qua l the c or r e sponding indic a te d pa st pe r for ma nc e le ve l(s).

SLIDE 14

MARKETING/ADVERTISING OUR BRAND

Dr. Cind y Orse r

Spo nso re d b y:

We b Mo b ile So c ia l

SLIDE 15

NATIONWIDE EXPANSION STRATEGY

wo str aight for war d gr

wth str

ate gie s

Ca pita lize o n the c o mpa ny’ s e xisting stre ng ths
Ac q uisitio n o ppo rtunitie s

Re a lizing the hig hly fra g me nte d na ture

f the

c a nna b is te sting industry ha s c re a te d sub sta ntia l c o nso lida tio n o ppo rtunitie s, Dig iPa th re struc ture d its b usine ss to fo c us o n re plic a ting the Dig iPa th L a b s mo d e l in o the r c a nna b is-le g a l sta te s, b o th thro ug h o rg a nic g ro wth a nd a c q uisitio n o ppo rtunitie s. Unde r the le a de rship

f Dr. Cindy Orse r, Chie f Sc ie nc e Offic e r o f Dig iPa th L

a b s, the Co mpa ny ho pe s to

pe n a te sting fa c ility in 2016 in De nve r, CO. Mo re o ve r, the Co mpa ny is e xplo ring
ppo rtunitie s in o the r sta te s, inc luding Ne w Yo rk, I

llino is, a nd Ca lifo rnia .

SLIDE 16

EXPANSION INTO CLINICAL LAB TESTING

I n a dditio n to e xpa nding Dig iPa th c o re c a nna b is te sting b usine ss thro ug h inte rna l g ro wth, the Co mpa ny inte nd s to c a pita lize o n ta rg e te d g ro wth o ppo rtunitie s within the b ro a de r c linic a l la b o ra to ry te sting industry.

n 2015, the U.S. c linic a l la b o ra to ry te sting industry g e ne ra te d re ve nue s o f a ppro xima te ly $60 b illio n.

he Ce nte rs fo r Me dic a re a nd Me dic a id Se rvic e s (CMS) e stima te d tha t in 2015 the re we re a ppro xima te ly 9,000 ho spita l-b a se d la b o ra to rie s, mo re tha n 122,000 physic ia n-

ffic e

la b o ra to rie s, a nd mo re tha n 6,000 inde pe nde nt c linic a l la b o ra to rie s in the U.S.

While

the re ha s b e e n sig nific a nt c o nso lida tio n in the c linic a l la b o ra to ry te sting industry in re c e nt ye a rs, the industry re ma ins fra g me nte d a nd hig hly c o mpe titive , with the a ve ra g e re ve nue pe r e sta b lishme nt b e lo w $1.5 millio n. 16

SLIDE 17

ACQUISITION OPPORTUNITIES IN THE CLINICAL LAB TESTING MARKET

Due to the fra g me nte d na ture a nd stro ng g ro wth pro spe c ts o f the c linic a l la b o ra to ry te sting industry, Dig iPa th ha s prio ritize d g ro wing the c o mpa ny thro ug h a c q uisitio ns o f tra ditio na l, we ll-re spe c te d c linic a l la b o ra to ry o pe ra tio ns in sta te s, re g a rdle ss o f the le g a l sta tus o f c a nna b is, a nd thro ug h a c q uiring a dditio na l c a pa b ilitie s to b ro a de n the Co mpa ny’ s pro duc t o ffe ring s in a re a s re la te d to la b o ra to ry se rvic e s. Ma na g e me nt b e lie ve s tha t thro ug h a stra te g ic ro ll up stra te g y, Dig iPa th will b e a b le to ra pidly inc re a se its sha re

f the o ve ra ll c linic a l la b o ra to ry te sting ma rke t d ue to a

numb e r o f fa c to rs, inc luding

Co st e ffic ie nc ie s a ffo rde d b y la rg e -sc a le a uto ma te d

te sting

Me rg e rs a nd a c q uisitio ns o f c o mple me nta ry b usine sse s
Re imb urse me nt re d uc tio ns a nd de ma nds fro m he a lth

pla ns a nd o the r he a lthc a re o rg a niza tio ns fo r g re a te r e ffic ie nc y

a rg e , inte g ra te d se rvic e ne two rks.

DigiPath’s Str ate gic Ac quisition T ar ge ts

SLIDE 18

MANAGEMENT’S ABILITY TO IMPLEMENT ACQUISITION STRATEGY

T he re c e nt a ppo intme nt o f Jo se ph Bia nc o a s Dig iPa th’ s c hie f e xe c utive o ffic e r b ring s to the Co mpa ny a n e xe c utive with a d e mo nstra b le tra c k re c o rd o f suc c e ss in spo tting a nd imple me nting stra te g ic g ro wth a nd c o nso lida tio n

ppo rtunitie s in hig hly fra g me nte d ma rke ts.

Afte r g ra dua ting fro m Ya le L a w Sc ho o l a nd te a c hing la w fo r se ve ra l ye a rs, Mr. Bia nc o fo und e d British Pe rfo rma nc e Ca rs, I nc ., the e xc lusive U.S. distrib uto r o f the L

tus Ma rq ue , whic h wa s e ve ntua lly so ld

to Ge ne ra l Mo to rs. Sub se q ue ntly, he fo rme d Allia nc e E nte rta inme nt Co rp., whic h wa s liste d o n the NYSE a nd wa s the n the la rg e st inde pe nd e nt distrib uto r o f re c o rd e d music in the wo rld. Allia nc e , whic h wa s e ve ntua lly so ld to a priva te e q uity fund , wa s the pro duc t o f a ro ll-up o f o ve r a do ze n sma lle r c o mpa nie s. By le ve ra g ing Mr. Bia nc o 's e xpe rtise , the Co mpa ny is po sitio ne d to utilize Dig iPa th a s a pub lic ve hic le to no t o nly g e ne ra te fina nc ia l va lue thro ug h the suc c e ssful inte g ra tio n o f a c q uire d a sse ts b ut a lso a rb itra g e va lue b y a c q uiring priva te la b te sting c o mpa nie s a t a disc o unt to the ir po te ntia l va lue in the pub lic ma rke ts. 18

SLIDE 19

ARBITRAGE OPPORTUNITY

Company Name Exchange:Ticker Sales EBITDA (TTM) EBITDA Margin EV EV / Sales EV / EBITDA

($Millions)

Medical Testing Labs

Laboratory Corp of America Holdings NYSE:LH $9,030 $1,740 19.3% $19,550 2.2x 11.2x Quest Diagnostics Inc NYSE:DGX $7,520 $1,480 19.7% $15,400 2.0x 10.4x

Life Sciences Tools & Services

Waters Corp NYSE:WAT $2,060 $662 32.1% $11,070 5.4x 16.7x Agilent Technologies Inc NYSE:A $4,100 $844 20.6% $14,500 3.5x 17.2x PerkinElmer Inc NYSE:PKI $2,270 $427 18.8% $6,790 3.0x 15.9x Thermo Fisher Scientific Inc NYSE:TMO $17,340 $4,240 24.5% $74,250 4.3x 17.5x

Environmental & Facilities Services

Republic Services Inc NYSE:RSG $9,190 $2,575 28.0% $25,450 2.8x 9.9x Stericycle Inc NASDAQGS:SRCL $3,200 $816 25.5% $12,000 3.8x 14.7x Waste Management Inc NYSE:WM $13,010 $3,460 26.6% $42,920 3.3x 12.4x

Other Labs & Related Services

Danaher Corp NYSE:DHR $21,260 $4,910 23.1% $67,420 3.2x 13.7x Ecology and Environment Inc NASDAQGM:EEI $115 $7 5.7% $36 0.3x 5.5x IDEXX Laboratories Inc NASDAQGS:IDXX $1,640 $380 23.2% $9,370 5.7x 24.6x Clean Harbors Inc NYSE:CLH $3,180 $484 15.2% $4,320 1.4x 8.9x

Average $7,112 $1,605 20.9% $17,867 3.1x 13.7x Median $4,038 $775 21.7% $10,965 3.2x 13.7x

SLIDE 20

FINANCIAL FORECASTS*

Year Ending Year Ending Year Ending Year Ending Description Sep-16 Sep-17 Sep-18 Total ASSUMPTIONS

Approx. Samples per Day

40 135 725 900 # of Projected Samples per Quarter 2,622 8,747 47,090 58,459 REVENUE Total Testing Revenue (wtd avg $ per test of $300) $ 777,430 $ 2,624,170 $ 14,127,048 $ 17,528,648 COST OF REVENUE Total Cost of Revenue $ 363,083 $ 1,049,667 $ 5,650,818 $ 7,063,568 GROSS PROFIT $ 414,347 $ 1,574,503 $ 8,476,230 $ 10,465,080 OPERATING EXPENSES General and administrative $ 976,684 $ 1,162,500 $ 1,697,112 $ 3,836,296 Professional fees (Chief Scientist, legal, IR, etc) 377,392 278,760 278,760 934,912 Stock-based compensation 1,257,211 300,000 300,000 1,857,211 Bad debts (27,625) 26,242 141,271 139,888 Total Operating Expenses, Excl Int, Taxes & Depreciation $ 2,583,662 $ 1,767,502 $ 2,417,143 $ 6,768,307 EBITDA $ (2,169,315) $ (192,999) $ 6,059,087 $ 3,696,773 Interest, Taxes & Depreciation Interest $ - $ - $ - $ - Taxes

23,008

1,165,146 1,188,154 Depreciation 244,557 244,660 281,359 770,576 Total Interest, Taxes & Depreciation $ 244,557 $ 267,668 $ 1,446,505 $ 1,958,730 OTHER INCOME(EXPENSE) $ 919,049 $ (48,000) $ (48,000) $ 823,049 NET INCOME/(LOSS) $ (3,332,921) $ (412,667) $ 4,660,583 $ 914,994

*Note tha t the infor

m the for

e c a st for a numbe r

e a sons, inc luding fa ilur e to a c hie ve a ny of the a ssumptions unde r lying suc h for e c a st or a ny numbe r

isk fa c tor s inc luding the ina bility to r a ise suffic ie nt c a pita l. Se e Risk F a c tor

s. T

he Compa ny e xpr e ssly disc la ims a ny oblig a tions or unde r ta king to r e le a se a ny upda te s or r e visions to the for e c a st.

SLIDE 21

ASSUMPTIONS

Re ve nue inc lude s re c re a tio na l, whic h will b e vo te d o n in No ve mb e r a nd if pa sse d ,

imple me nte d in Q4 o f 2017, c urre ntly a ppro x. 28 c usto me rs

Onc e

Dig iPa th re a c he s a ppro x. 100 sa mple s pe r da y the Co mpa ny will ne e d a dditio na l e q uipme nt, a s fa c to re d in with inc re a se d de pre c ia tio n

Curre ntly 42 lic e nse d c ultiva to rs & 19 pro duc tio n fa c ilitie s, whic h will g ro w to 70 & 30

b y o ur fisc a l Q1 o f 2017 b a se d

n a wa rde d

lic e nse s, Dig iPa th c urre ntly ha s a ppro xima te ly 28 c usto me rs

Numb e r o f ne w pa tie nts ha s b e e n inc re a sing b y we ll o ve r 1,000 pe r mo nth
E

stima te d a 60% g ro ss ma rg in b a se d o n Dig iPa th’ s re a lize d g ro ss ma rg in o ve r the la st 6 mo nths

SLIDE 22

EXPERIENCED MANAGEMENT TEAM

Jose ph Bianc o, Chie f E

xe c utive Offic e r& Chairman Jo se ph Bia nc o wa s a ppo inte d to Dig iPa th’ s Bo a rd o f Dire c to rs in Oc to b e r 2015 a nd se rve s a s its c ha irma n, a nd , in June 2016, he wa s a lso a ppo inte d Chie f E xe c utive Offic e r. Mr. Bia nc o ha s b e e n the CE O o f Whyte L yo n & Co mpa ny, I nc . sinc e 1984. Afte r g ra d ua ting fro m Ya le L a w Sc ho o l a nd te a c hing la w fo r se ve ra l ye a rs, Bia nc o fo und e d British Pe rfo rma nc e Ca rs, I nc ., the e xc lusive U.S. distrib uto r o f the L

tus Ma rq ue , whic h wa s e ve ntua lly so ld to Ge ne ra l Mo to rs. Sub se q ue ntly, he

fo rme d Allia nc e E nte rta inme nt Co rp., whic h wa s liste d o n the NYSE a nd wa s the n the la rg e st inde pe nd e nt distrib uto r o f re c o rd e d music in the wo rld . Allia nc e , whic h wa s e ve ntua lly so ld to a priva te e q uity fund , wa s the pro duc t o f a ro ll-up o f o ve r a do ze n sma lle r c o mpa nie s. Mr. Bia nc o 's a c q uisitio ns e xpe rie nc e will b e e spe c ia lly re le va nt to Dig iPa th's g ro wth stra te g y. Mr. Bia nc o a lso c urre ntly se rve s a s c ha irma n a nd CE O o f Oa k T re e E duc a tio n. He is a lso c ha irma n o f E ve rg re e n Re vie w, I nc ., a no t-fo r-pro fit re viva l o f a lite ra ry ma g a zine pro mine nt in the 1960’ s a nd 1970’ s. He b e g a n te a c hing la w, jo ining the fa c ulty o f Ca rdo zo la w sc ho o l whe re he b e c a me Asso c ia te De a n. He a utho re d two b o o ks, “T he L a w o f Co rpo ra tio ns” (F

unda tio n Pre ss, Unive rsity Ca se b o o k

Se rie s) with Ya le pro fe sso r Ja n De utsc h a nd “T he L a w o f Unma rrie d Co uple s” (De ll), a s we ll a s se ve ra l sc ho la rly a rtic le s. During this pe rio d, he a lso c o nsulte d to nume ro us c o rpo ra tio ns a nd inve stme nt b a nks, princ ipa lly o n ta x ma tte rs. 22

SLIDE 23

EXPERIENCED MANAGEMENT TEAM

dd De nkin, Pre side nt & Chie f Ope rating Offic e r

Ove r the la st ye a r, T

dd De nkin ha s tra nsfo rme d Dig iPa th, I

nc . fro m a pure d ig ita l pa tho lo g y so lutio n pro vide r into a firm tha t ho lds a le a de rship po sitio n in the me dic a l c a nna b is te sting ma rke t. Mo st no ta b ly, in 2009 T

dd ide ntifie d the tre nd in g ro w-yo ur-o wn hydro po nic syste ms a nd

c o -fo und e d the se lf-c o nta ine d hydro po nic syste m le a de r Pho to tro n Ho lding s (PHOT ), he lping ta ke the c o mpa ny pub lic a nd se rving a s its pre side nt. F ro m 2000 to 2008 T

dd , re c o g nize d the po we r
f stre a ming me dia o ve r the inte rne t a nd he lpe d la unc h Dig ita l F

X I nte rna tio na l (DXN), ta ke tha t c o mpa ny pub lic , a nd g ro w it to a $300 millio n ma rke t c a p. He is a lso the Pre side nt a nd Ho st o f T he Na tio na l Ma rijua na Ne ws, whic h a irs we e kly o n T NMNe ws.c o m, o ne o f Dig iPa th’ s who lly o wne d sub sidia rie s. He is a 30-ye a r ve te ra n o f the T V a nd film industry, wo rking a t to p c o mpa nie s like Dic k Cla rk Pro duc tio ns, Nic ke lo de o n Ne two rk, Disne y/ MGM Studio s, a nd T ime Wa rne r. Mr. De nkin ha s b e e n a ke y c o ntrib uto r to sho ws fo r ABC, NBC, CBS, E SPN, a nd MT

V. He a lso dire c te d a nd

pro duc e d “T he Austra lia n E xpe rie nc e ,” a film fe a ture d o n T he T

d a y Sho w a nd sc re e ne d a t the
pe ning c e re mo nie s o f the 2000 Olympic s.

SLIDE 24

EXPERIENCED MANAGEMENT TEAM

Cindy Or se r , Ph.D., Chie f Sc ie nc e Offic e r

As Chie f Sc ie nc e Offic e r a t Dig iPa th L a b s, Cindy Orse r, Ph.D., ha s de ve lo pe d a n industry-le a ding me dic a l c a nna b is te sting fa c ility in L a s Ve g a s, NV. T he la b se rve s a s a mo de l the c o mpa ny pla ns to re plic a te in o the r sta te s whe re c a nna b is is a llo we d b y sta te la w. Dr. Orse r is ro utine ly c a lle d upo n to d e live r e xpe rt te stimo ny

c a nna b is te sting , whic h he lps la wma ke rs a nd la w e nfo rc e me nt und e rsta nd the impo rta nc e o f c a nna b is te sting a nd a do pting rig o ro us sta nda rds. I n mid-2015, she a ddre sse d the Co nfe re nc e o f We ste rn Atto rne ys Ge ne ra l (CWAG) o n the sa lie nt po ints. With e ig hte e n pa te nts a nd fo rty-o ne pub lishe d pa pe rs, Dr. Orse r dra ws fro m o ve r 25 ye a rs

f e xpe rie nc e inno va ting in a c a de mia a nd priva te industry. He r a c hie ve me nts ha ve c e nte re d o n

visio na ry, stra te g ic pla nning a nd e xe c uting , fundra ising , b udg e ting , sta ffing , ma na g ing pe rso nne l, ide ntifying o utside c o lla b o ra to rs, a nd dire c ting sub c o ntra c to rs. She ha s a lso se rve d a s the lia iso n b e twe e n he r c o mpa ny, Big Sky Bio syste ms I nc ., a nd fe de ra l re g ula to ry c o mplia nc e a g e nc ie s suc h a s the F DA, CDC, a nd ARC. 24

SLIDE 25

EXPERIENCED MANAGEMENT TEAM

dd Pe te r

son, CPA, Chie f F

inanc ial Offic e r T

dd Pe te rso n, CPA, ha s b e e n the c hie f fina nc ia l o ffic e r o f Dig iPa th sinc e June 19, 2015. Mr.

Pe te rso n ha d pre vio usly, sinc e Aug ust 2008, b e e n the pre side nt o f K SNE 2 E nte rprise s, L L C, a n a c c o unting a nd c o nsulting firm lo c a te d in L a s Ve g a s, Ne va da tha t spe c ia lize s in pub lic ly tra de d mic ro c a p c o mpa nie s. F ro m F e b rua ry 2007 to Aug ust 2008, he wa s the se nio r a c c o unting ma na g e r o f Ac c uity F ina nc ia l, a n a c c o unting firm lo c a te d in L a s Ve g a s, Ne va da tha t spe c ia lize s in pub lic ly tra de d mic ro c a p c o mpa nie s. Mr. Pe te rso n wa s the a ud it ma na g e r o f De Jo ya Griffith a nd Co mpa ny, a PCAOB re g iste re d a ud it firm lo c a te d in L a s Ve g a s, Ne va da , pro viding a udit a nd a c c o unting se rvic e s prima rily to pub lic ly tra d e d mic ro c a p c o mpa nie s fro m No ve mb e r 2004 to F e b rua ry 2007. He wa s the a udit ma na g e r o f Oc e l, He ime r & Asso c ia te s, L td ., a re g io na l a udit firm lo c a te d in Minne a po lis, Minne so ta fro m 1999 to 2004. Upo n g ra dua ting fro m the Unive rsity o f St. T ho ma s with a Ba c he lo r o f Arts de g re e in a c c o unting in 1997, Mr. Pe te rso n wo rke d a s a sta ff a c c o unta nt during 1998 fo r R.W. Ra msa y & Asso c ia te s, L td. 25

SLIDE 26

CAPITAL RAISE

DigiPath is se e king to r aise up to $500K of Se c ur e d Conve r tible Note s, whic h will be use d for wor king c apital

One Unit, a t a pric e o f $50,000 pe r Unit, c o nsists o f a se c ure d c o nve rtib le a nd a Wa rra nt to purc ha se 75% o f the numb e r o f sha re s
f Co mmo n Sto c k o f the Co mpa ny into whic h the Co nve rtib le No te is initia lly c o nve rtib le into
T

he Co nve rtib le No te s will c o nve rt into Co mmo n Sto c k o f the Co mpa ny, a t the ho lde r’ s o ptio n, a t a 25% disc o unt to the ma rke t pric e o f the Co mmo n Sto c k a t the time o f c o nve rsio n, pro vide d tha t the c o nve rsio n pric e sha ll no t b e le ss tha n $0.15 pe r sha re .

he Co nve rtib le No te s will ma ture 18 mo nths fro m the da te o f issua nc e a nd b e a r inte re st a t a ra te o f 10% pe r a nnum, pa ya b le a t ma turity.

he Co mpa ny will ha ve the rig ht to pre pa y the Co nve rtib le No te s prio r to ma turity upo n 15 da ys’ no tic e to the ho lde rs the re o f, sub je c t to the ho lde rs’ c o nve rsio n rig hts whic h ma y b e e xe rc ise d fo llo wing suc h no tic e a nd prio r to re pa yme nt.

he Co nve rtib le No te s will b e se c ure d b y a lie n o n the c o mmo n sto c k o f T NM Ne ws Co rp.

he Wa rra nts will b e e xe rc isa b le fo r a pe rio d o f thre e ye a rs fo llo wing the da te o f issua nc e a t a n e xe rc ise pric e o f $0.30 pe r sha re

f Co mmo n Sto c k.

SLIDE 27

DIGIPATH, INC. (OTCQB:DIGP)

Jo se ph Bia nc o , CE O Pho ne : 702.209.2429 E

ma il: to dd@ dig ipa th.c o m

Sc o tt Gre ipe r Viridia n Ca pita l Adviso rs, L L C/ Pic kwic k Ca pita l Pa rtne rs, L L C Pho ne : +1-212-333-0202 E ma il: sg re ipe r@ viridia nc a .c o m

ke r
De ale r

Se r vic e s Pr

vide d T

ugh Pic kwic k Capital Par

tne r s, L L C, Me mbe r F INRA/ SIPC T his doc ume nt doe s not c onstitute an offe r

f se c ur

itie s. Ple ase se e Disc laime r

n page 25.

SLIDE 28

DISCLOSURE

T his o ve rvie w is fo r info rma tio na l purpo se s o nly a nd do e s no t c o nstitute a n o ffe r to se ll o r a so lic ita tio n o f a n o ffe r to b uy a ny units (“units”) in Dig iPa th. Any suc h o ffe rwill b e ma de o nly pursua nt to Dig iPa th’ s Priva te Pla c e me nt Me mo ra ndum. T his o ve rvie w inc lude s pro je c tio ns, va lua tio ns, e stima te s a nd o the r fina nc ia l da ta . Any info rma tio n re g a rding pro je c te d o r e stima te d inve stme nt re turns a re e stima te s o nly a nd sho uld no t b e c o nside re d indic a tive o f the a c tua l re sults tha t ma y b e re a lize d o r pre dic tive o f the pe rfo rma nc e o f Dig iPa th. Prio r to inve sting , inve sto rs a re stro ng ly urg e d to re vie w c a re fully the Priva te Pla c e me nt Me mo ra ndum (inc luding the risk fa c to rs de sc rib e d the re in), the Dig iPa th Ope ra ting Ag re e me nt a nd the Sub sc riptio n Do c ume nts, to a sk suc h q ue stio ns o f Dig iPa th ma na g e me nt a s the y de e m a ppro pria te , a nd to disc uss a ny pro spe c tive inve stme nt in Dig iPa th with the ir le g a l a nd ta x a dvise rs in o rde r to ma ke a n inde pe nde nt de te rmina tio n o f the suita b ility a nd c o nse q ue nc e s o f a n inve stme nt. I nve stme nt in Dig iPa th is suita b le o nly fo r so phistic a te d inve sto rs who fully unde rsta nd, a nd a re willing to a ssume , the risks invo lve d in a n inve stme nt in Dig iPa th. No pe rso n ha s b e e n a utho rize d to g ive a ny info rma tio n o r to ma ke a ny re pre se nta tio n, wa rra nty, sta te me nt o r a ssura nc e no t c o nta ine d in the Priva te Pla c e me nt Me mo ra ndum a nd, if g ive n o r ma de , suc h o the r info rma tio n o r re pre se nta tio n, wa rra nty, sta te me nt o ra ssura nc e ma y no t b e re lie d upo n. T he o ffe ring o f units in Dig iPa th will b e ma de in re lia nc e upo n a n e xe mptio n fro m re g istra tio n unde r Re g ula tio n D pro mulg a te d unde r the Se c uritie s Ac t

f 1933, a s a me nde d , fo r o ffe rs a nd sa le s o f units tha t do no t invo lve a pub lic o ffe ring . No pub lic o r o the r ma rke t will de ve lo p fo r the units, a nd the

units a re no t g e ne ra lly o the rwise tra nsfe ra b le . E a c h purc ha se r o f units in Dig iPa th must b e a n “a c c re dite d inve sto r” a s de fine d in Rule 501 o f Re g ula tio n D. No pa rt o f this ma te ria l ma y b e (i) c o pie d, pho to c o pie d o r duplic a te d in a ny fo rm, b y a ny me a ns, o r (ii) re distrib ute d witho ut Dig iPa th’ s prio r writte n c o nse nt.