Mr. Nicholas Sosiak reports

CANNARA BIOTECH ACHIEVES ITS HIGHEST NATIONAL MARKET SHARE OF 3.2% IN JULY 2024 AND ANNOUNCES INVESTOR WEBCAST SCHEDULED FOR AUGUST 20, 2024

Cannara Biotech Inc. has achieved its highest national market share of 3.2 per cent in July, 2024, which places Cannara as the ninth-largest licensed producer in Canada by market share.

"We are thrilled to report that July, 2024, marks a significant milestone for Cannara, with our highest monthly national retail sales in the company's history, including an approximate 11.8-per-cent market share in Quebec. This achievement is a testament to the dedication and hard work of our entire team as well as the growing demand for our premium cannabis products. We look forward to discussing these results in more detail during our upcoming investor webcast, where we will provide further insights into our third quarter of 2024 financial performance and future growth strategies," commented Nicholas Sosiak, chief financial officer of Cannara.

Cannara will host a live investor webcast on Tuesday, Aug. 20, 2024, at 2 p.m. ET. Mr. Sosiak will lead the presentation, covering key aspects of the business and delivering a detailed update on Q3 2024 financial results. Following the presentation, investors will have the opportunity to participate in an interactive question-and-answer session.

Date and time:  Aug. 20, 2024, at 2 p.m. ET

To listen to the webcast or participate in the live question-and-answer session, please preregister on-line.

For those unable to attend the live event, an archived version of the webcast and presentation will be available on the company's investor relations website.

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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