Mr. Rob Fia reports

CITY VIEW GREEN HOLDINGS INC. EXITS RETAIL CANNABIS THROUGH OWNERSHIP IN BUDD HUTT & ANNOUNCES DIRECTOR RESIGNATION

City View Green Holdings Inc. has exited the retail cannabis space through its ownership in Budd Hutt Inc. Budd Hutt recently relinquished its last two licences and no longer operates in the province of Alberta.

Budd Hutt was under intense pressure from competition and sustained losses which no longer made it viable to operate stores in Alberta. Retailers are often surrounded by competition in small towns, making it difficult to turn a profit.

Rob Fia, chief executive officer, commented: "It is unfortunate that once stores were purchased by Budd Hutt, soon after the company experienced extensive delays due to the moratorium on licences for retail cannabis stores. Once the moratorium was lifted, there were further delays related to due diligence before Budd Hutt received its licences in Alberta. When Budd Hutt finally received its licences, the small markets Budd Hutt operated in were oversaturated with competitors and combined with poor capital markets, specifically for cannabis retail. This led to an unprofitable situation. City View will focus its efforts on manufacturing edibles and continues the strategic review process, as announced in November, 2023."

Gunter Bell has resigned as a director of the company due to personal reasons. The company would like to thank Mr. Bell for his efforts and for serving on City View's board.

About City View Green Holdings Inc.

City View is a leading consumer packaged goods company focused on the development of cannabis-infused edibles with the receipt of its Cannabis Act processing licence on April 30, 2021.

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