Mr. Vern Vipul reports

FINCANNA CAPITAL CORP. ANNOUNCES ELECTION TO ISSUE COMMON SHARES IN SATISFACTION OF CONVERTIBLE DEBENTURE INTEREST PAYMENTS

Fincanna Capital Corp. has received debentureholder approval to amend its outstanding convertible debentures to allow, for up to two more consecutive quarters, interest payments under the convertible debentures to be satisfied with the issuance of common shares of the company. The company has elected to issue shares to satisfy convertible debenture interest payments due Oct. 6, 2023, and Oct. 10, 2023.

The company previously issued convertible debentures, as amended from time to time, in February, 2019, and July, 2020. The convertible debentures, as amended, mature on Jan. 10, 2024, and Feb. 8, 2024, respectively, and bear interest at 12 per cent per annum.

The common shares are issuable at 0.5 cent per common share on the interest payment dates.

The issuance of the common shares as payment for interest owing on the debentures is subject to the terms and conditions of the convertible debenture indenture, as well as the receipt of all requisite approvals, including, without limitation, the approval of the Canadian Securities Exchange. If required by the CSE, the common shares issued in consideration for the interest owing on the debentures will bear the appropriate legends.

About Fincanna Capital Corp.

Fincanna was an investment company, providing growth capital to rapidly emerging private companies operating in the licensed U.S. cannabis industry. Fincanna no longer has active business operations.

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