Mr. David Schwede reports

HERITAGE CANNABIS ANNOUNCES CLOSING OF PREVIOUSLY ANNOUNCED SALE LEASE BACK TRANSACTION AND THIRD AMENDMENT TO ITS SENIOR SECURED LOAN

Heritage Cannabis Holdings Corp. has closed its previously announced: (i) sale and leaseback of the company's real estate properties in Ontario and British Columbia to BJK Developments Ltd. for a net purchase price of $9,714,475, with a two-year option to repurchase the real estate; (ii) a third amending agreement with BJK Holdings Ltd., a related entity of the purchaser, amending the existing credit facilities with BJK, which include a term loan and line of credit; and (iii) amendment of existing warrant certificates held by BJK which entitle BJK to subscribe for up to 60 million common shares of Heritage.

The purchase price has been paid to BJK to set off the amount owing by the company to BJK which has reduced the company's remaining term loan debt by approximately 64 per cent to $5,256,379.

About Heritage Cannabis Holdings Corp.

Heritage Cannabis is a leading cannabis company offering innovative products to both the medical and recreational legal cannabis markets in Canada and the United States, operating under two licensed manufacturing facilities in Canada. The company has an extensive portfolio of high-quality cannabis products under the brands Purefarma, Pura Vida, Rad, Premium 5, Thrifty, Adults Only, feelgood, the CB4 suite of medical products in Canada and ArthroCBD in the United States.

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