Mr. Darren Peddle reports

GREENWAY ANNOUNCES OVERSUBSCRIBED CLOSING OF $3.5 MILLION PRIVATE PLACEMENT OF CONVERTIBLE DEBENTURES

Greenway Greenhouse Cannabis Corp. has closed its previously announced non-brokered private placement. The company is pleased that the offering has closed oversubscribed for gross proceeds of $3.5-million of 13 per cent secured convertible debentures.

"I want to again thank our new and existing investors, for showing trust and faith in the Greenway team. Our hard work, and their trust in our strategy is why we were able to close this private placement above our original target," said Jamie D'Alimonte, CEO. "With this funding in we are able to be more nimble with our go to market strategy for Greenway branded consumer products, while continuing to keep up with the increasing demand for our high-quality flower in the wholesale market."

Information regarding the Offering, including the terms of the Debentures, is set out in the Company's press release dated October 20, 2023. A copy of the debenture indenture governing the Debentures will be filed by the Company on its SEDAR+ profile at www.sedarplus.ca.

Abingdon Capital Corporation (the "Advisor") acted as the exclusive financial advisor for the Offering. As part of the Offering, the Company shall pay finder's fees to the Advisor as well as a one-time arrangement fee to all subscribers equal to 2% of the principal amount of their respective Debentures. The net proceeds from the Offering will be used to make final payments of the outstanding expenses related to the recently completed facility expansion, general corporate expenses and working capital requirements.

All securities issued in connection with the Offering will be subject to a statutory hold period until February 28, 2024 in accordance with applicable securities legislation.

Option Cancellation

The Company also announces that certain officers, directors, and employees have agreed to cancel options to acquire up to 7,725,000 Common Shares at a weighted average exercise price of $0.60.

About Greenway

Greenway Greenhouse Cannabis Corporation is a federally licensed cultivator for the Canadian cannabis marketplace. Greenway is headquartered in Kingsville, Ontario, and leverages its agriculture and cannabis expertise in its aspiration to be a leading cannabis cultivator in Canada. More information can be found on Greenway.ca and updates can be followed on Instagram , Twitter , Facebook , and LinkedIn .

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