MONTREAL, Oct. 05, 2026 (GLOBE NEWSWIRE) -- Cannara Biotech Inc. (“Cannara”, the “Company”, “us” or “we”) (TSX: LOVE) (OTCQX: LOVFF) (FRA: 8CB0), a vertically integrated producer of premium-grade cannabis products at affordable prices with two mega facilities in Québec spanning over 1,600,000 sq. ft., is pleased to announce an expansion of its long-term international supply agreement (the “Agreement”) with Curaleaf International Limited (“Curaleaf”), previously announced on July 14, 2026. If fully realized, the amended Agreement has a potential aggregate contract value of approximately C$34 million over its two-year term, compared with up to C$21 million under the original Agreement, based on committed supply volumes and the terms and conditions of the Agreement. The expanded relationship builds on Cannara’s first long-term international supply commitment and provides an opportunity to grow international sales through Curaleaf’s established distribution network while continuing to support the Company’s Canadian growth strategy.

“The expansion of our agreement reflects the strong relationship we are building with Curaleaf and the quality of the cannabis we have supplied from our Valleyfield facility,” said Zohar Krivorot, Founder and Chief Executive Officer of Cannara. “We see a meaningful opportunity to grow together as partners, supplying Québec-grown cannabis to international medical markets while continuing to execute our growth strategy here in Canada.”

“This expanded agreement demonstrates our ability to grow within the cultivation infrastructure we already own at Valleyfield, where we now have 15 of our 24 grow rooms active,” said Niko Sosiak, Chief Operating Officer of Cannara. “With a fully funded build-out plan, our remaining capacity gives us a clear runway to scale production as demand grows, while maintaining consistent quality and the cost discipline that support our growth in Canada and internationally.”

Curaleaf also continues to support Cannara’s pursuit of EU-GMP certification for its processing center at Valleyfield. In the interim, cannabis flower supplied under the Agreement will be dried and processed under EU-GMP conditions at Curaleaf’s EU-GMP certified facility in Canada before release into international medical markets.

CONTACT

Scott Carroll, PhD, MBA
Vice President, Investor Relations & Commercial Strategy
scott.carroll@cannara.ca

ABOUT CANNARA

Cannara Biotech Inc. (TSX: LOVE) (OTCQX: LOVFF) (FRA: 8CB0), is a vertically integrated producer of affordable premium-grade cannabis and cannabis-derivative products. Cannara owns two mega facilities based in Québec spanning over 1,600,000 sq. ft., providing the Company with 100,000 kg of potential annualized cultivation output. Leveraging Québec’s favourable energy costs, Cannara maintains an efficient, low-cost production model. For more information, please visit cannara.ca.

ABOUT CURALEAF

Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) is a leading international provider of consumer products in cannabis with a mission to enhance lives by cultivating, sharing and celebrating the power of the plant. Curaleaf International’s unique distribution network throughout Europe, Canada and Australasia brings together pioneering science and research with cutting-edge cultivation, extraction and production. For more information, please visit ir.curaleaf.com

CAUTIONARY STATEMENT REGARDING “FORWARD-LOOKING” INFORMATION

This news release may contain “forward-looking information” within the meaning of Canadian securities legislation (“forward-looking statements”). These forward-looking statements are made as of the date of this press release and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required under applicable securities legislation. Forward-looking statements relate to future events or future performance and reflect Company management’s expectations or beliefs regarding future events and include, but are not limited to, statements regarding the anticipated benefits of the amended Agreement, the timing and extent of the increased cultivation allocation, expected plant volumes and supply of cannabis flower, the potential aggregate contract value and the extent to which it is realized, anticipated international sales and Canadian growth, the parties’ performance of their respective obligations, the pursuit and potential receipt of EU-GMP certification and future dried-flower pricing.

In certain cases, forward-looking statements can be identified by the use of words such as “plans,” “expects” or “does not expect,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates” or “does not anticipate,” or “believes,” or variations of such words and phrases or statements that certain actions, events or results “may,” “could,” “would,” “might” or “will be taken,” “occur” or “be achieved” or the negative of these terms or comparable terminology. In this document, certain forward-looking statements are identified by words including “may,” “future,” “expected,” “intends” and “estimates.” By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

Forward-looking information is based upon a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those that are disclosed in, or implied by, such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors which are discussed in greater detail under “Risk Factors” in the Company’s AIF available on SEDAR+ at www.sedarplus.ca and under the “Investor Area” section of our website at https://www.cannara.ca/en/investor-area.

Other risks not presently known to the Company or that the Company believes are not significant could also cause actual results to differ materially from those expressed in its forward-looking statements. Although the forward-looking information contained herein is based upon what we believe are reasonable assumptions, readers are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Certain assumptions were made in preparing the forward-looking information concerning the availability of capital resources, business performance, market conditions, as well as customer demand. Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein is provided as of the date hereof, and we do not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.