(via TheNewswire)

 September 16, 2026 - Calgary, Alberta- TheNewswire – Vencanna Ventures Inc. (the " Company " or " Vencanna ") (CSE:VENI) announces that The Cannavative Group, LLC (“ Cannavative ”), a Nevada limited liability company and the Company’s principal operating subsidiary held through the Company’s direct subsidiary Vencanna Acquisition Inc. (“ AcquisitionCo ”), 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 headcount, 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 ongoing 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.

In connection with the cessation of operations and dissolution, certain one-time costs are expected to be incurred, estimated to be C$25,000 to C$50,000 in professional fees and other related charges. During this process, Cannavative is committed to ensuring minimal disruption to all stakeholders.

Vencanna would like to thank all of Cannavative’s team members for their contributions over the years and is committed to providing support and guidance to all employees during this transition to ensure a smooth and respectful process.

About Vencanna

On September 24, 2018, the Company completed a recapitalization financing, appointed a new management team and board of directors, and commenced trading on the CSE 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".

On April 30, 2024 Vencanna acquired Cannavative, a cultivation and extraction company in the state of Nevada. Cannavative was established in 2016, and began operations in 2017.  The acquisition of Cannavative transitioned the Company from a merchant capital firm to an operating company.  On September 15, 2026, Cannavative initiated voluntary liquidation, dissolution and winding-up of its operations.  

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

For further information regarding this news release, please contact:

Vencanna Ventures Inc.

David McGorman

Chief Executive Officer and Director

info@vencanna.com

Sonoran Capital Advisors, LLC

Tegan Christianson

tchristianson@sonorancap.com

Reader Advisories

Neither the CSE nor the Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Statements

This news release may include "forward-looking statements" which reflect the Company's current expectations regarding the future results of operations, performance and achievements of the Company, including but not limited to: the business plan of the Company and Cannavative; the market for medical and recreational cannabis in the United States and the Company’s brand exposure; the state of the cannabis market and U.S. regulatory changes in respect thereof; the voluntary liquidation, dissolution and winding-up of Cannavative, including the filing of Articles of Dissolution with the Nevada Secretary of State and the expected timing and completion thereof; expected nature and amount of costs to be incurred in connection with the cessation of operations and dissolution of Cannavative; the Company’s ability to ensure minimal disruption to stakeholders during the wind-up process; and expectations regarding the business plans of the Company and its subsidiaries. When used in this news release, the words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by the Company, including expectations and assumptions concerning: timing and amount of capital expenditures; the legislative and regulatory environments of the jurisdictions where the Company will carry on business, have operations or plan to have operations; the Company's ability to obtain additional financing on satisfactory terms or at all; that the dissolution of Cannavative will be completed in the manner and on the timeline currently anticipated; that the costs incurred in connection with the dissolution of Cannavative are consistent with the Company’s expectations; conditions in general economic and financial markets; and the ability of the Company's investments to execute on their business plan. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized.

Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, that unforeseen liabilities, claims or regulatory actions may arise in connection with the winding-up of Cannavative, that the wind-up of Cannavative will not be completed on anticipated timelines or the manner anticipated by the Company, t hat the costs associated with the wind-up of Cannavative may materially exceed the Company’s expectations,  that the Company and its subsidiaries may be unable to execute their business plans due to changes in market conditions, regulatory developments, financing constraints or operational challenges, changes to global cannabis laws, how the developing U.S. legal regime will impact the cannabis industry, the ability of the Company to implement its corporate strategy, the state of domestic and international capital markets, the ability to obtain financing, changes in general market conditions and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities. Except as required by applicable laws, the Company does not undertake any obligation to publicly update or revise any forward-looking statements.

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