Mr. John Campbell reports

BEVCANNA ANNOUNCES EFFECTIVE DATE OF PREVIOUSLY ANNOUNCED SHARE CONSOLIDATION; COMPANY CONSOLIDATION TO TAKE EFFECT AT MARKET OPEN ON DECEMBER 21, 2023

Further to the news release dated Dec. 15, 2023, Bevcanna Enterprises Inc. has set Dec. 21, 2023, as the record date for the share consolidation. As previously announced, the company intends to consolidate all of its issued and outstanding common shares on the basis of one postconsolidation common share for every 10 preconsolidation common shares.

The share consolidation will become effective at the opening of the market on Dec. 21, 2023. The common shares will trade under the existing company name and trading symbols. The new Cusip number is 08783B200, and new ISIN is CA08783B2003.

As a result of the share consolidation, the number of outstanding common shares will be reduced from 323,447,753 common shares to approximately 32,344,775 common shares, subject to adjustments for rounding. No fractional common shares will be issued as a result of the share consolidation. Where the exchange results in a fractional share, the number of common shares will be rounded up to the nearest whole common share.

The exercise or conversion price and/or the number of common shares issuable with respect to any of the company's outstanding convertible securities will be proportionately adjusted in connection with the share consolidation.

Common shares held in uncertificated form by non-registered shareholders through brokerage accounts will be converted at the consolidation ratio through each shareholder's brokerage account. Non-registered shareholders should consult with their broker for further information. A letter of transmittal describing the process by which registered shareholders may obtain new certificates representing their consolidated common shares has been mailed to registered shareholders by the company's transfer agent Olympia Trust Company. All registered shareholders will be required to send their share certificates, along with a properly executed letter of transmittal, to Olympia Trust, in accordance with the instructions provided in the letter of transmittal. A copy of the letter of transmittal has been posted on the company's issuer profile on SEDAR+.

About Bevcanna Enterprises Inc.

Bevcanna (Canadian Securities Exchange: BEV, OTC: BVNNF and Frankfurt Stock Exchange: 7BC) is a diversified lifestyle and wellness consumer packaged goods company. Bevcanna develops and manufactures a range of alkaline, mineralized 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 critical control point certified flexible manufacturing facility in Osoyoos, B.C. The company's extensive distribution network includes traditional and regulated retail distribution and on-line through its market-leading brands.

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