Mr. Jeffrey Ciachurski reports

CAPTIVA VERDE WELLNESS TO ACQUIRE THE MIAMI PADEL CLUB

Further to Captiva Verde Wellness Corp.'s news release of July 18, 2023, where the company has signed a binding letter of intent with respect to the proposed acquisition of a professional sports franchise, Captiva Verde has named the professional sports team in question, which is the Miami Padel Club.

The Miami Padel Club of the Pro Padel League

Padel is considered to be the racquet sport of this century, and according to the International Padel Federation, it's one of the fastest-growing sport globally. The sport has gone through a rapid growth during the last 20 years - there are over 25 million players and over 4,000 Padel clubs in 90 countries around the world and the popularity is set to increase. Invented in Mexico in the 1960s, the sport has become widely spread throughout the whole of Latin America and the United States. Miami is the strategic hub for the world of Padel and Captiva is excited to be in this major location for the worldwide explosion of Padel. The Miami Padel Club was the 2023 regular season leader of the Pro Padel League with a 5-1 season record. The ten (10) teams of the Pro Padel League are now Miami, New York, Los Angeles, San Diego, Cancun, Toronto, Las Vegas, Houston, Orlando and Arkansas.

There exists between the team ownership, their respective players and ambassadors over 100 million followers on all social media platforms, giving the League a solid presence.

Detailed information about the Pro Padel League can be found at:

https://propadelleague.com

Jeff Ciachurski, CEO of Captiva states: "We are deeply honoured and committed to enter into an agreement to acquire a professional sports team as an addition to our infrastructure health and wellness platform. The problem has long been the general public has always had difficulty investing into a fast-growing new sport franchise, yet the success of a public company owning a sports franchise is well documented in all having enterprise value build-ups through the democratization of investing into a sports franchise through a public company. This adds several years of additional growth for the Captiva Wellness shareholders."

About the Transaction

Captiva does not expect the Transaction to constitute a "Fundamental Change" or "Change of Business" under the policies of the CSE.

In connection with the closing of the Transaction, Captiva expects to appoint a nominee of the vendor to its board of directors and to adopt an equity compensation plan with a restricted share unit component.

There is no finder's fee payable in connection with the Transaction.

Update on Private Placement

The CEO of Captiva will be purchasing 14 million units of the $0.032 per unit private placement as previously disclosed on July 18, 2023. The closing price of the shares of Captiva on July 18, 2023 was $0.030 and the 20-day VWAP was less than $0.030. The CFO of Captiva will be purchasing 1 million units.

We seek Safe Harbor.