Mr. Sonny Newman reports

C21 INVESTMENTS ANNOUNCES Q4 EARNINGS DATE AND PROVIDES OPERATIONAL UPDATE

C21 Investments Inc. has set the expected date for releasing its audited fiscal year-end financial results for the period ended March 31, 2025. The company is also taking the opportunity to provide an operational update for the period. All currency is reported in U.S. dollars. The company recently changed its fiscal reporting period to a March 31 year-end and will not have traditional year-over-year comparable reporting periods for its fourth quarter.

The company is pleased to share an update on its existing operations for its fourth quarter ended March 31, 2025. C21 anticipates releasing audited results by June 24, 2025.

For fourth quarter (January to March, 2025), C21 reported revenue of $8.1-million, a 3-per-cent increase from $7.9-million in third quarter (October to December, 2024). Compared with the previous Q4 (ended Jan. 31, 2024), revenue grew by 24 per cent. Gross margins for Q4 are projected at approximately 45 per cent. Over the fiscal year (fourth quarter versus first quarter), C21 achieved a 23-per-cent revenue increase (see table below). The company sustained robust retail sales growth, with a 26-per-cent increase over the same period.

All Silver State Relief dispensaries recorded sequential same-store-sales growth in Q4. Notably, the South Reno store, opened in July, 2024, has achieved over 100-per-cent same-store-sales growth, rising from $273,000 in its first full operational month, July, 2024, to $580,780 in March, 2025. Customer transactions grew consistently across all dispensaries each quarter, with a 38-per-cent increase in retail transactions over the fiscal year (Q4 versus Q1).

Chief executive officer and president Sonny Newman stated: "We look forward to sharing our fourth quarter and year-end results in June, which will showcase sequential same-store-sales growth across each of our Silver State Relief dispensaries despite seasonal and industry challenges. Our performance underscores the strength of our retail brand and the exceptional dedication of our team."

About C21 Investments Inc.

C21 is a vertically integrated cannabis company that cultivates, processes and distributes quality cannabis and hemp-derived consumer products in the United States. The company is focused on value creation through the disciplined acquisition and integration of core retail, manufacturing and distribution assets in strategic markets, leveraging industry-leading retail revenues with high-growth potential multimarket branded consumer packaged goods. The company owns Silver State Relief and Silver State Cultivation in Nevada, including legacy Oregon brands Phantom Farms, Hood Oil and Eco Firma Farms. These brands produce and distribute a broad range of tetrahydrocannabinol and cannabidiol products from cannabis flowers, prerolls, cannabis oil, vaporizer cartridges and edibles. The company is based in Vancouver, Canada.

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