Mr. Dean Medwid reports

NEW LEAF VENTURES WELCOMES NEW CEO AND DIRECTOR AND ANNOUNCES RESIGNATION OF PREVIOUS EXECUTIVES AND DIRECTORS

New Leaf Ventures Inc. has appointed Dean Medwid as chief executive officer and director following the resignation of Michael Stier. Mr. Medwid formerly held the position of president and chief operating officer of New Leaf. Alongside this change, Christopher Cooper and Daryn Gordon have also tendered their resignations as members of New Leaf's board of directors. New Leaf has appointed Ryan Arthur to the board of directors and as corporate secretary. These changes reflect the company's commitment to growth, innovation and strategic vision. Additionally, Jason Garnett will continue with his role as director and chief scientific officer for New Leaf, and to provide the needed continuity to maintain the momentum that the company has created since his appointment.

Mr. Arthur is currently the president of CR7 Investments Inc., which actively identifies prospective ventures for strategic investment and technical partnerships, fostering their growth and prosperity. With a rich and diverse background encompassing the retail, mining, cannabis, industrial and technology sectors, he brings a wealth of expertise to the table. Demonstrating his prowess in capital markets, Mr. Arthur has been instrumental in raising capital for numerous public companies. Additionally, his leadership extends to directorial positions at Nova Lithium Corp. and ISM Resources Corp. since 2021.

The company would like to thank Mr. Stier, Mr. Cooper and Mr. Gordon for their invaluable contributions over the past several years, driving New Leaf's progress and success to date. The company commends their vision, expertise and dedication, and wishes them continued success in their future endeavours.

About New Leaf Ventures Inc.

New Leaf is developing a cannabis-sector-based scalable concept of focused financing and applied management to achieve earnings growth through targeted investment. The company's flagship enterprise is New Leaf USA and its subsidiaries, which provide licences, real property, intellectual property and equipment for lease, certain administrative services, and other ancillary services to a Washington-based producer for the processing, packaging and distribution of cannabis and cannabis-related products.

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