Mr. John Miller reports

THC BIOMED INTL LTD. ANNOUNCES FILING DELAY

THC Biomed Intl Ltd. was unable to file its audited financial statements and the accompanying management's discussion and analysis for the financial year ended July 31, 2023, by Nov. 28, 2023, being the date that such filings were due under applicable Canadian securities law requirements.

Audit fees must be paid by the company before the auditor can begin the audit of the annual financial statements. While the company is currently owed more than enough to cover those fees by various Canadian provincial cannabis operations, it does not expect to receive those funds until December and January. In the meantime, the company is taking steps to resolve the cash flow issue.

The British Columbia Securities Commission has granted a management cease trade order (MCTO) that restricts management from trading in securities of the company until the annual filings are filed. The company has put plans in place with the auditor, contingent on resolving the cash flow issue, and now expects to file the annual filings on or before Jan. 29, 2024. The company will issue a press release confirming completion of these filings at such time. Until the company files the annual filings, it will comply with the alternative information guidelines set out in National Policy 12-203 -- Management Cease Trade Order. The guidelines, among other things, require the company to issue biweekly default status reports by way of a news release for as long as the annual filings have not been filed. During the MCTO, the general investing public will continue to be able to trade in the company's shares.

The company confirms that, other than as disclosed in prior press releases and material change reports, there have been no material business developments since the filing on June 29, 2023, of the company's latest interim financial reports for the period ended April 30, 2023.

About THC Biomed Intl Ltd.

THC Biomed is one of Canada's oldest active licensed cannabis companies. It was first licensed to deal with cannabis in 2013 under a Health Canada Section 56 exemption under the Controlled Drugs and Substances Act and has been a licensed producer under the current regime since 2016. Its product focus is on high-quality, high-potency beverages and edibles.

THC Biomed is a Cannabis Act licensed producer of medical and recreational cannabis. It is licensed to cultivate and sell dried, extract, edible and topical cannabis. The company is on the leading edge of scientific research and the development of products and services in the medical and recreational cannabis industry. Management believes THC Biomed is well positioned to be in the forefront of this industry.

We seek Safe Harbor.