Mr. John Campbell reports

BEVCANNA RECEIVES CONFIRMATION OF ITS 2021 AUDITED ANNUAL CONSOLIDATED FINANCIAL STATEMENTS

Bevcanna Enterprises Inc. has received confirmation from its auditors, Dale Matheson Carr-Hilton Labonte LLP, chartered professional accountants (DMCL), regarding the completion and delivery of its audited annual consolidated financial statements for the year ended Dec. 31, 2021, on or before June 2, 2023. The company has independently prepared the corresponding management's discussion and analysis (MD&A) and necessary certifications.

Following the receipt of the audited annual consolidated financial statements for 2021 and 2022, and the interim financial statements for the three months ended March 31, 2023, Bevcanna plans to submit a revocation application to the British Columbia Securities Commission in relation to the previously issued cease trade order resulting from the delayed filing of the company's financial statements.

Bevcanna remains dedicated to fulfilling its regulatory obligations and looks forward to resolving the cease trade order, thereby enabling the company to resume normal trading activities. The company will continue to provide updates to its stakeholders regarding the progress of its filings, regulatory efforts and the application process. The company appreciates the continued support of its shareholders throughout this process.

This news release has been reviewed and approved by DMCL.

About Bevcanna Enterprises Inc.

Bevcanna Enterprises is a diversified health and wellness beverage and natural products company. Bevcanna develops and manufactures a range of alkaline, plant-based and cannabinoid beverages and supplements for both in-house brands and white-label clients.

Based in British Columbia, Canada, Bevcanna owns a pristine alkaline spring water aquifer and a high capacity 40,000-square-foot, Health Canada and hazard analysis and critical control points certified flexible manufacturing facility in Osoyoos, B.C. The company's extensive distribution network includes more than 3,000 points of traditional and regulated retail distribution, and on-line through its market-leading Trace brand, its Pure Therapy natural health and wellness e-commerce platform, its fully licensed Canadian cannabis manufacturing and distribution network, and a partnership with No. 1 U.S. cannabis beverage company Keef Brands.

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