Mr. David McGorman reports

VENCANNA VENTURES ANNOUNCES VOLUNTARY LIQUIDATION OF THE CANNAVATIVE GROUP

Vencanna Ventures Inc. is voluntarily liquidating The Cannavative Group, LLC, a Nevada limited liability company and the company's principal operating subsidiary held through direct subsidiary Vencanna Acquisition Inc. Cannavative will cease operations and undergo voluntary liquidation, dissolution and winding-up. AcquisitionCo, as the sole member of Cannavative, has approved the voluntary liquidation, dissolution and winding-up under the Nevada Revised Statutes and has authorized and directed Cannavative's officers to prepare, execute and file articles of dissolution with the Nevada Secretary of State. The dissolution will become effective upon such filing.

Established in 2016, Cannavative is a licensed manufacturer and distributor of recreational cannabis flower and extracted products. During the past two years, Cannavative has focused on implementing various cost-saving measures, including a reduction in head count, improved transportation logistics, lower supply costs and the elimination of redundant administrative costs, in addition to relocating to a new facility that better reflected the company's needs at a much-reduced carrying cost. While the cost-saving measures allowed Cannavative to remain competitively priced, maintaining its sales has been a challenge amid price compression and market consolidation in the Nevada cannabis market.

The decision to wind up Cannavative follows a thorough review of its operations and financial position. Despite the restructuring efforts, Cannavative continues to operate at a loss. The board of directors of AcquisitionCo has determined that Cannavative's continued operations are not economically viable. Cannavative has engaged Sonoran Capital Advisors, LLL as the company's liquidating agent to assist on the company's orderly liquidation process.

Vencanna continues to review cannabis investment options, with a particular focus in the United States.

About Vencanna Ventures Inc.

On Sept. 24, 2018, the company completed a recapitalization financing, appointed a new management team and board of directors, and commenced trading on the Canadian Securities Exchange as an investment issuer. The transactions transitioned the company from an oil and gas issuer to a merchant capital firm, and rebranded as Vencanna Ventures.

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