Mercanto Holdings Announces Board Change and Provides Normal Course Issuer Bid Update

TORONTO, Oct. 14, 2026 /CNW/ -- Mercanto Holdings Inc. (TSXV: MUSH) ("Mercanto" or the "Company") announces that Steve Saviuk has resigned from its Board of Directors, effective October 8, 2026, and is focusing on his other business ventures.

Mr. Saviuk joined the Board in April 2021, when the Company became a public issuer, and chaired its Audit Committee throughout his tenure. Drawing on more than 30 years in venture capital and public-company leadership, he helped guide the Company through its transition to the public markets and was a steady source of advice on issuer requirements, continuous disclosure, financial reporting and governance best practices. He gave generously of his time and experience.

The Board thanks Mr. Saviuk for his contributions and his collegiality over the past five years. He will be missed, and the Board wishes him every success in his future endeavours.

Normal Course Issuer Bid Update

Since its normal course issuer bid commenced on July 15, 2026 (the "NCIB"), the Company has purchased a total of 163,000 common shares through Raymond James Ltd. as at September 30, 2026, at a weighted average price of $0.1235 per share (excluding commissions), for aggregate consideration of approximately $20,130. All shares are purchased for cancellation. Up to 2,688,771 common shares remain available for purchase under the NCIB, which will terminate no later than July 14, 2027.

The Company intends to continue purchasing shares opportunistically under the NCIB and may increase the pace of its purchases, depending on market conditions, the trading price of its shares and its cash position. All purchases are made through the facilities of the TSX Venture Exchange in accordance with its policies and applicable securities laws, and are funded from working capital.

Fiscal 2026 Results

The Company expects to report its audited results for the year ended July 31, 2026 by the end of November 2026.

About Mercanto Holdings Inc.

Mercanto Holdings Inc. (TSXV: MUSH) is a Québec-based house of cannabis and wellness brands. Through its wholly owned subsidiary Teonan Biomedical Inc., a Health Canada standard processing licence holder, the Company develops, manufactures and markets Nordique Royale (hash and vape cartridges), Velada (capsules, hash and pre-rolls) and Le P'tit Snack (edibles), sold through provincially authorized retailers, primarily in Québec. Learn more at mercantoholdings.com.

Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian securities legislation, including statements regarding future purchases under the NCIB, including their timing, pace and volume, the search for an additional independent director and the expected timing of the Company's fiscal 2026 results. Forward-looking information is based on management's current expectations and assumptions and is subject to risks and uncertainties that could cause actual results to differ materially, including market conditions, the trading price and liquidity of the Company's shares, the Company's cash requirements and the other risks described in the Company's filings available under its profile at www.sedarplus.ca. There can be no assurance that any further shares will be purchased under the NCIB. The Company undertakes no obligation to update forward-looking information except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Mercanto Holdings Inc.

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