Mr. Dale McClanaghan reports

LOTUS SUBMITS CANNABIS LICENSE EVIDENCE PACKAGE TO HEALTH CANADA

Lotus Ventures Inc. has reached a major milestone by submitting its cannabis licence evidence package to Health Canada. The company has constructed its state-of-the-art indoor production facility, located in British Columbia's Okanagan Valley, to comply with the regulations under the Cannabis Act and now awaits a licence from Health Canada to cultivate. Once licensed, Lotus will commence cultivation from its climate-controlled facility, utilizing the talents of its lead growers. The team has deep roots in the British Columbia cannabis community, which will give Lotus the ability to consistently produce some of the best quality cannabis available.

Lotus would like to thank everyone who has contributed to this project so far, including builders, suppliers and local officials. "We look forward to the next catalysts throughout the year as we obtain our licences, ramp up production, build new facilities and launch our retail brand," commented Dale McClanaghan, chief executive officer of Lotus Ventures.

The company wishes to thank its shareholders for their patience over these many years. Lotus Ventures looks forward to sharing its successes with you as it takes its place in this disruptive new industry.

About Lotus Ventures Inc.

Lotus Ventures is a late-stage licensed producer applicant under the Cannabis Act, in active review with Health Canada. The unique business model combines an upstream royalty financing model with Auxly and a downstream licensing model with farmer/grower partners using Lotus technology and intellectual property. The first facility in Spallumcheen, B.C., is a purpose built, state-of-the-art indoor facility with proprietary processes.