Mr. Chris Reid reports

MEDCOLCANNA ORGANICS ANNOUNCES BRIDGE LOAN ARRANGEMENT

Medcolcanna Organics Inc. has entered into a bridge loan arrangement with a significant shareholder of the company. Under the terms of the bridge loan, the lender provided a bridge loan financing amount of $500,000 (U.S.) for a nine-month term at an annual interest rate of 12 per cent per annum, with interest payments to begin on Jan. 1, 2024, and with an additional $500,000 (U.S.) being available for a period of two months, bringing the total available loan amount to $1-million (U.S.). The purpose of the bridge loan is to cover working capital requirements, including payroll and related business expenses, until the company can become financially self-sustaining and to cover some of the costs associated with paying for audit related expenses so that the company can file its outstanding financial statements and get its shares relisted and reposted for trading on the Canadian Securities Exchange (CSE). Final details of the bridge loan are subject to acceptance of the CSE.

This loan is considered to be a related party transaction pursuant to Multilateral Instrument 61-101, but the company is availing itself of the exemptions from obtaining a formal valuation and obtaining majority of the minority approval due to the exemptions available in sections 5.5(b) and 5.7(f) of said instrument.

About Medcolcanna Organics Inc.

Medcolcanna is a Canadian integrated medical cannabis company, whose fully licensed operations are based in Colombia. Led by a proven and successful management team, Medcolcanna has facilities in optimal growing locations; this positions the company to become a global leader in the medical cannabis market.

Medcolcanna employs state-of-the-art organic agricultural technology and innovative pharmaceutical processes to produce high-quality products. The company's scalable production model and network of pharmaceutical partnerships globally ensure that the company remains at the forefront of the medical cannabis industry.

We seek Safe Harbor.