Mr. Ian Chadsey reports

DELTA 9 PROVIDES GUIDANCE & TIMING FOR Q2 2023 RESULTS

Delta 9 Cannabis Inc. has provided guidance on its revenue forecast for the three- and six-month periods ending June 30, 2023, based on preliminary results:

• The company anticipates revenue for the three-month period ending June 30, 2023, to be between $18.2-million and $18.8-million, compared with:
  • $16.9-million for the first quarter of 2023;
  • $17.5-million for the second quarter of 2022.
• The company anticipates revenue for the six-month period ending June 30, 2023, to be between $35.1-million and $35.7-million, compared with $30.0-million for the second quarter of 2022.

"Sequentially and year over year, Delta 9 anticipates another quarter with all three business units contributing to the success of a record quarter," said John Arbuthnot, co-founder and chief executive officer of Delta 9. "We remain optimistic that the rest of 2023 will continue to outperform the first half of the year for Delta 9."

Delta 9 will provide investors with a full breakdown of our revenue and financial results as part of the second quarter news release, which will be issued on Aug. 14, 2023, after markets close. This will be followed by a conference call the following day on Aug. 15, 2023, the details of which can be found at the end of this news release.

The preliminary estimated revenues for the three-month period ended June 30, 2023, set forth above are subject to the completion of the company's financial closing procedures. These preliminary estimated financial results have been prepared by and are the responsibility of the company's management.

The company currently expects that its final results for revenue will be consistent with the estimates set forth above, but such estimates are preliminary, and the company's actual results of operations and other data could differ materially from these estimates due to the completion of its financial closing procedures, final adjustments and other developments that may arise between now and the time such consolidated financial statements for the period ended June 30, 2023, are issued.

2023 second quarter results conference call

Delta 9 will release results for the second quarter of 2023 on Aug. 14, 2023, after markets close. A conference call to discuss the above results is scheduled for Aug. 15, 2023. The conference call will be hosted that day at 11 a.m. Eastern Time by John Arbuthnot, chief executive officer, and Jim Lawson, chief financial officer, followed by a question-and-answer period.

Date:  Aug. 15, 2023

Time:  11 a.m. Eastern Time

Dial-in:  1-888-886-7786

Replay:  877-674-6060 (available until 12 a.m. Eastern Time, Sept. 15, 2023

Replay passcode:  823449 followed by the pound key

About Delta 9 Cannabis Inc.

Delta 9 is a vertically integrated cannabis company focused on bringing the highest-quality cannabis products to market. The company sells cannabis products through its wholesale and retail sales channels and sells its cannabis grow pods to other businesses. Delta 9's wholly owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis and operates a 95,000-square-foot production facility in Winnipeg, Man., Canada. Delta 9 owns and operates a chain of retail stores under the Delta 9 Cannabis Store brand. Delta 9's shares trade on the Toronto Stock Exchange under the symbol DN and on the OTC under the symbol DLTNF.

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