Mr. Michael Bumby reports

VIVO CANNABIS ANNOUNCES THIRD SUPPLEMENTAL DEBENTURE INDENTURE

Further to its news release of Sept. 19, 2022, Vivo Cannabis Inc. has entered into a third supplemental debenture indenture dated Sept. 29, 2022, with TSX Trust Company (TSXT) in respect of its outstanding unsecured convertible debentures in the aggregate principal amount of $5,546,808. The Supplemental Indenture amends the debenture indenture dated February 28, 2018 between the Company and TSXT, as amended and supplemented by a first supplemental debenture dated April 24, 2020 and a second supplemental debenture indenture dated September 15, 2020.

The Supplemental Indenture provides for, among other things, (i) the extension of the maturity date from September 15, 2022 to September 15, 2024, (ii) an increase of the interest payable on the Debentures from 6.0% to 10.0%, and (iii) the prepayment of Debentures in the aggregate principal amount of $3 million, on a pro rata basis, in $500,000 installments (the "Prepayments"), with the first such payment to be made within three business days after the execution of the Supplemental Indenture and the balance to be made every 30 days after the date of the Supplemental Indenture (with the last such payment expected to occur on or about February 29, 2023).

ATB Capital Markets Inc. acted as financial advisor to VIVO on the amendments to the Debentures.

About VIVO Cannabis

VIVO Cannabis(TM) is recognized for trusted, premium cannabis products and services. It holds production and sales licences from Health Canada and operates world-class indoor cultivation facilities. VIVO has a collection of premium brands, each targeting different customer segments, including Canna Farms(TM), Beacon Medical(TM), Fireside(TM), and Lumina(TM). Harvest Medicine(TM), VIVO's patient-centric network of medical cannabis clinics, has serviced over 200,000 patient visits. VIVO is pursuing focuses its international efforts on Germany and Australia.

We seek Safe Harbor.