Mr. Feng Lu reports

CRAFTPORT CANNABIS CORP. ANNOUNCES CEASE TRADE ORDER AND FORECLOSURE APPLICATION BY MORTGAGE HOLDER

Craftport Cannabis Corp. has been issued a cease trade order (CTO) from the British Columbia Securities Commission effective as of May 8, 2023. The CTO was issued in response to the company's failure to file its audited annual financial statements, accompanying management's discussion and analysis, and certifications for the year ended Dec. 31, 2022, by the filing deadline of May 1, 2023.

The failure to file the required filings is due to the company not having sufficient capital at this time to begin the year-end audit process. The company is working diligently to remedy the default by securing additional capital to start the audit process and with its auditor to ensure the filing of its required filings as soon as possible.

The company also announces that the mortgage holder of the property located at 13460 Rippington Rd., Pitt Meadows, B.C., has applied to start foreclosure of the property, pursuant to a mortgage loan agreement dated Jan. 24, 2020, to secure repayment of loans made by the mortgage holder. The property is owned by 1139000 B.C. Ltd., of which the company owns 51 per cent. The company does not intend to defend this action.

About Craftport Cannabis Corp.

Craftport Cannabis is a Canadian cannabis licensed producer operating out of Peachland, B.C. The company is focused on the Canadian premium craft cannabis recreational market by utilizing an outsourced cultivation model.

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