Mr. Daniel Petrov reports

KIARO APPOINTS KELLY ABBOTT TO BOARD OF DIRECTORS

Subject to the approval of the TSX Venture Exchange, Kiaro Holdings Corp. has appointed Kelly Abbott to its board of directors, effective as of June 24, 2022.

Mr. Abbott has over 10 years of experience in entrepreneurship and has founded multiple companies ranging in size and industry. He has extensive experience in public markets, and has helped secure millions of dollars in capital in private and public sectors. His expertise is in marketing, corporate strategy, venture capital and business development. He has overseen the corporate development function of various private and public companies within the mining and resource, technology, cannabis, and psychedelic sectors.

"I am pleased to join Kiaro's board of directors," said Mr. Abbott. "Kiaro is poised to see its efforts to date reflected in further growth and market share. I am looking forward to assisting the management team, along with the board in executing the company's strategic and financial goals."

About Kiaro Holdings Corp.

Based in Vancouver, B.C., Kiaro is an independent, omnichannel cannabis retailer and distributor. Through existing storefronts across British Columbia, Saskatchewan and Ontario, and with the completion of the recent acquisition of Hemisphere Cannabis from Aegis Brands, Kiaro has 17 stores with another two expected in the fourth quarter of this fiscal year. This is in addition to its wholesale distribution division servicing Saskatchewan, and e-commerce sites in Canada, the United States and Australia. Kiaro is driven to introduce new and experienced consumers to a lifelong exploration of cannabis. With more than 70 years of collective retail- and wholesale-focused experience, Kiaro's leadership team has a proven record of executing on acquisitions and financings and moreover building brands across North America. The company plans to continue its growth trajectory through its consumer-centric retail, e-commerce and wholesale distribution segments over the coming years.

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