Mr. Rav Mlait reports

CANNABIX TECHNOLOGIES ANNOUNCES NON-BROKERED LIFE PRIVATE PLACEMENT

Cannabix Technologies Inc. intends to complete a non-brokered private placement of a minimum of one million and up to two million units at a price of 50 cents per unit for gross proceeds of a minimum of $500,000 and up to $1-million. Each unit will consist of one common share in the capital of the company and one non-transferable common share purchase warrant. Each whole warrant will be exercisable to acquire one share at an exercise price of 65 cents per share for a period of 24 months from the date of issuance, subject to the following acceleration right. If, at any time after the date of issuance of the warrants, the closing price of the shares on the Canadian Securities Exchange (or such other stock exchange on which the shares may be traded from time to time) is at or above 75 cents per share for a period of 10 consecutive trading days, the company may, within five days of the triggering event, accelerate the expiry date of the warrants by giving notice thereof to the holders of the warrants, by way of news release, and in such case the warrants will expire on the first day that is 30 calendar days after the date on which such notice is given by the company announcing the triggering event.

Certain insiders of the company may acquire units in the offering. Any participation by insiders in the offering would constitute a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. All securities issued to insiders will be issued on the same terms and conditions as those issued to arm's-length subscribers, and no insiders will receive any preferential treatment or benefit in connection with their participation. The company confirms that no proceeds of the offering will be used to repay insider debt, pay compensation to insiders, or finance transactions involving insiders or their affiliates. The participation of insiders in the offering is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the units subscribed for by the insiders, nor the consideration for the units paid by such insiders, would exceed 25 per cent of the company's market capitalization.

Cannabix plans to use the net proceeds of this financing to finance manufacturing inventory and labour, general and administrative expenses (including investor relations), and unallocated working capital.

There is an offering document related to the offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision. The offering is available to purchasers resident in Canada, except Quebec, the United States, or countries other than the United States and Canada, in reliance on the listed issuer financing exemption under Part 5A of National Instrument 45-106, Prospectus Exemptions. In accordance with the listed issuer financing exemption, shares issued under the offering will not be subject to resale restrictions pursuant to applicable Canadian securities laws.

An investor of the company holds a contractual participation right until May 15, 2026, in respect of future equity financings by the company. The company has received an executed waiver from such investor indicating that they will not exercise their participation right in connection with the offering.

We seek Safe Harbor.