Mr. Edoardo Mattei reports

RED WHITE & BLOOM PROVIDES UPDATE RELATING TO ALEAFIA HEALTH

Red White & Bloom Brands Inc. has provided an update on matters relating to Aleafia Health Inc.

Following receipt of the approval and reverse vesting order from the Ontario Superior Court of Justice (Commercial List) on Oct. 31, 2023, Red White & Bloom has continued to work with Aleafia Health and certain subsidiaries of Aleafia Health to implement the transactions contemplated by the previously announced stalking horse asset purchase and share subscription agreement, as amended and restated on Oct. 24, 2023, among Red White & Bloom, Aleafia Health, and certain subsidiaries of Aleafia Health.

As of Nov. 22, 2023, the parties to the amended stalking horse agreement have satisfied substantially all of the conditions to closing set forth in the amended stalking horse agreement. The parties are continuing to collaboratively pursue, with the applicable government authorities, the remaining conditions required to obtain the required regulatory approvals. For this purpose, the parties have agreed to extend the outside date in the amended stalking horse agreement from Nov. 22, 2023, to Dec. 15, 2023, and currently anticipate closing the transactions contemplated under the amended stalking horse agreement by no later than Dec. 15, 2023.

About Red White & Bloom Brands Inc.

Red White & Bloom is a multistate cannabis operator and house of premium brands in the U.S. legal cannabis sector. Red White & Bloom is predominantly focusing its investments on the major U.S. markets, including Arizona, California, Florida, Massachusetts, Missouri and Michigan.

We seek Safe Harbor.