Mr. Obie Strickler reports

GROWN ROGUE COMPLETES FISCAL YEAR END CHANGE, REPORTS AUDITED FINANCIAL RESULTS FOR THE TWO MONTHS ENDING DECEMBER 31, 2023

Grown Rogue International Inc. has released its audited financial results for the two months ending Dec. 31, 2023. The company is reporting this two-month period as part of its earlier announced transition to a financial year-end of Dec. 31, so the company's financial quarters align with peers on calendar quarters going forward, and the company's annual harvest cycle. All financial information is provided in United States dollars unless otherwise indicated.

Management commentary

"We are excited to complete the transition of our fiscal year to now align with the calendar year. It was great to see that during November and December, typically the two slowest months for the company, we saw 30-per-cent year-over-year revenue growth in our core markets of Oregon and Michigan," said Obie Strickler, chief executive officer of Grown Rogue.

"We are also pleased with the construction and business planning progress in New Jersey, and are excited to soon be bringing our high-quality, craft cannabis to the great people of New Jersey. We set aggressive timelines for the cultivation facility, and would like to thank our team for their effort and commitment to achieving these timelines," continued Mr. Strickler.

"The recent warrant exercises, which resulted in the company adding an additional $4.7-million (U.S.) in cash, have positioned us well to finance our current growth initiatives with cash on the balance sheet, while leaving us with enough liquidity to move quickly if an attractive opportunity presents itself.

"I want to personally thank the entire Grown Rogue team, our shareholders and our customers for the continued support to help Grown Rogue achieve our goal of becoming the first nationally recognized craft cannabis company in the U.S."

About Grown Rogue International Inc.

Grown Rogue International is a craft cannabis company operating in Oregon, Michigan, Minnesota, Maryland and New Jersey, focused on delighting customers with premium flower and flower-derived products at fair prices. The company's roots are in southern Oregon, where it has proven its capabilities in the highly competitive and discerning Oregon market. The company's passion for quality product and value, combined with a disciplined approach to growth, prioritizes profitability and return on capital without sacrificing quality. The company's strategy is to pursue capital efficient methods to expand into new markets, bringing craft-quality product at fair prices to more consumers. The company also continues to make modest investments to improve outdoor craft cultivation capabilities in preparation for eventual interstate commerce.

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