An anonymous director of Pelorus Fund reports

PELORUS FUND REIT SUPPORTS STATEHOUSE HOLDINGS' INITIATION OF BANKRUPTCY PROCEEDINGS IN CANADA

Pelorus Fund REIT LLC, a private mortgage real estate investment trust and significant owner of debt issued by Statehouse Holdings Inc., a California-focused, vertically integrated cannabis company, has issued the following statement supporting Statehouse's decision to commence bankruptcy proceedings for the company's Canadian parent entity. "We are pleased at the progress made since we initially filed our receivership complaint in September and to enter into a stipulation earlier this week with majority holders of the company's 9.0 per cent secured notes and the company for the appointment of a receiver. That action, combined with today's filing, protects Statehouse employees, customers, business partners and vendors and preserves the company's ongoing operations in the state of California, enabling it to operate as normal across its production and distribution footprint in the state. As we have stated since we initiated these proceedings, we recognize the significant value of Statehouse's business, employees and operations and look forward to continuing to work with the company and the court-appointed receiver to ensure it is well positioned with a cleaner, more efficient and appropriate structure moving forward."