An anonymous director reports

CANNARA BIOTECH ANNOUNCES NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS TO BE HELD VIRTUALLY ON JANUARY 25TH, 2024

Cannara Biotech Inc. will host the company's annual general meeting of shareholders on Jan. 25, 2024, at 11 a.m. EST. The meeting will be held by way of a live webcast and teleconference (per the instructions as follows).

Shareholders are encouraged to vote on the matters before the meeting by proxy and to join the meeting by webcast. Those who attend the meeting by teleconference are requested to read the notes to form of proxy and then to complete, sign and mail the enclosed form of proxy in accordance with the instructions set out in the proxy and in the information circular.

Holders of record of ordinary shares of the company at the close of business on Dec. 5, 2023, will be asked by the company for disinterested shareholder approval for the extension of the expiry date of 3,723,800 options that are currently issued and outstanding to employees of the company by two years, including 3,503,500 options that are currently issued to company insiders. These options are set to expire five years from grant date, and the company is seeking approval to amend the expiration to seven years from initial grant date. Shareholders will also be asked to approve the company's rolling employee stock option plan and restricted share unit plan, as is required on an annual basis.

Shareholders will be able to join the annual general meeting on-line.

To join the meeting by teleconference, please dial 1-650-479-3208 and use meeting code 2634 285 6848 and passcode LOVE2024.

Note on teleconference: Shareholders accessing the meeting by teleconference will not be able to vote or speak at the meeting. To vote or speak at the meeting, shareholders will need to join the webcast and utilize the chat function during the meeting. A moderator will be present to allow shareholders to vote or speak at the meeting at the appropriate time.

About Cannara Biotech Inc.

Cannara Biotech is a vertically integrated producer of affordable premium-grade cannabis and cannabis-derivative products for the Canadian markets. Cannara owns two megafacilities based in Quebec spanning over 1.65 million square feet, providing the company with 100,000 kilograms of potential annualized cultivation output. Leveraging Quebec's low electricity costs, Cannara's facilities produce premium-grade cannabis products at an affordable price.

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