An anonymous director reports

KIARO ANNOUNCES CLOSING OF ITS ASSET PURCHASE AGREEMENT

Kiaro Holdings Corp., further to the news releases dated Sept. 15, 2022, Dec. 2, 2022, and Dec. 16, 2022, has closed its asset purchase agreement with 1371511 B.C. Ltd. in which 1371511 B.C. Ltd. has exercised the right of first refusal to purchase interest in and to certain cannabis retail stores operated by Kiaro Brands Inc.

As part of the asset acquisition agreement, the following stores have been purchased including certain books and records, assumed contracts, permits, inventory, fixed assets, leaseholds and intangibles of the four retail cannabis stores located in British Columbia owned by KBI:

2816 St. Johns St., Port Moody, B.C., V3H 2C1

1666 Graveley St., Vancouver, B.C., V5L 3A7

475 Gorge Rd. East, Victoria, B.C., V8T 2W1

1650 Pandosy St., Kelowna, B.C., V1Y 1P7

Kiaro Holdings Corp.

Based in Vancouver, B.C., Kiaro is an independent, omni-channel cannabis retailer. Kiaro is driven to introduce new and experienced consumers to a lifelong exploration of cannabis and cannabis-related accessories.