Mr. Philip Campbell reports

LUFF ENTERPRISES TO ACQUIRE LICENSED PRODUCER AS NEXT STEP IN ONLINE MARKETPLACE STRATEGY

Luff Enterprises Ltd. has signed a definitive agreement to acquire a licensed producer in British Columbia. Luff plans to acquire, largely for share consideration, the National Green Biomed group of companies. NG Biomed is a licensed producer of cannabis products for both the recreational and medical consumer markets.

Philip Campbell, chief executive officer, commented: "We are pleased to announce the next step in our on-line marketplace strategy, with the acquisition of a licensed producer. This acquisition will allow us to accelerate our launch of on-line sales in Canada and establish a new on-line wellness marketplace. I look forward to welcoming our new shareholders and employees."

Luff's on-line marketplace strategy will allow the company to offer a broader range of competitively priced products while capturing intermediary margins by selling directly to the final consumer. With the large oversupply of cannabis in Canada and the compression of wholesale prices, Luff believes this capital-efficient, technology-focused strategy will allow the company to scale up sales quickly and efficiently while capturing strong gross margins.

The acquisition of NG Biomed will be effected by way of a three-cornered amalgamation in accordance with the provisions of the Business Corporations Act (British Columbia) whereby the shareholders of NG Biomed will exchange their shares for up to 170 million common shares in Luff at a deemed price of 2.5 cents per share. At closing, Luff will also assume up to a maximum of $500,000 in debt and up to $200,000 in other net liabilities.

Upon closing of the acquisition, the company plans to appoint the Hon. Herb Dhaliwal, NG Biomed's chairman, to Luff's board of directors. Mr. Dhaliwal is a former member of Parliament and Minister of National Revenue, Minister of Fisheries & Oceans and Minister of Natural Resources. He is the former vice-chair of B.C. Hydro Power and Authority.

The acquisition of NG Biomed remains subject to approval from NG Biomed's shareholders, approval from the Canadian Securities Exchange, if needed, and completion of customary closing conditions.

The company has also entered into a definitive agreement to sell certain assets and licences at its Portland, Ore., facility for cash consideration. Luff plans to continue to sell branded and private label CBD products in the United States using its network of partners. This transaction is expected to close within the next three months.

About Luff Enterprises Ltd.

Luff is a hemp and wellness company, focused on providing premium quality, innovative products across the United States through its on-line store. Committed to plant-based science, Luff produces and sources a suite of thoughtfully designed products to benefit a wide range of user needs.

Currently, the company focuses on identifying unique products and formulations leveraging cannabinoids to empower people to realize the full potential of everyday life. Luff's scientifically formulated products are non-GMO (genetically modified organism), THC-free, third party tested and only crafted with hemp grown in the United States.

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