Ms. Marcie Kiziak reports

SNDL AND NOVA CANNABIS EXTEND OUTSIDE DATE FOR CLOSING OF THE STRATEGIC PARTNERSHIP

Due to continuing review by regulators with respect to required approvals, the outside date for the closing of SNDL Inc. and Nova Cannabis Inc.'s previously announced strategic partnership as contemplated by the implementation agreement entered into between SNDL and Nova dated Dec. 20, 2022, as amended on April 3, 2023, and June 16, 2023, has been extended. SNDL and Nova anticipate that the transaction will close on or before July 25, 2023, subject to receipt of regulatory approvals and the amendment to certain terms of the transaction that are mutually satisfactory to SNDL and Nova.

"We have been closely collaborating with regulators and continue to progress toward completion of the transaction," said Marcie Kiziak, Nova's chief executive officer. "We are excited to further solidify Nova's leadership position in the Canadian cannabis retail market and continue to drive sustainable growth through a well-capitalized cannabis retail platform and our partnership with SNDL."

In addition, SNDL and Nova have extended the maturity date of Nova's revolving credit facility with SNDL to July 25, 2023.

To date, all preclosing conditions for completion of the transaction have been satisfied other than the parties' receipt of certain key regulatory approvals.

About Nova Cannabis Inc.

Nova Cannabis (TSX: NOVC) is one of Canada's largest and fastest-growing cannabis retailers with a goal of disrupting the cannabis retail market by offering a wide range of high-quality cannabis products at every-day best value prices. Nova currently owns and/or operates 91 locations across Alberta, Ontario and Saskatchewan, primarily under its Value Buds banner.

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