AgriCann Solutions To Raise Up To $274K Via Rights Offering

AgriCann Solutions Corp. will be conducting a rights offering to holders of its common shares at the close of business on the record date of January 3, 2023. The offering will be to raise gross proceeds of up to CA$370,302 ($274,080) from issuing 18.5 million common shares.

Shares are being issued pursuant to the rights offering at the price of CA$0.02 per share, which will allow all shareholders to maintain their interest at low cost and to potentially increase their interest using the "additional subscription privilege", as described further below.

Details of the Rights Offering

Rights will be offered on the basis of one right for each common share held at the record date. Each right will entitle the holder to subscribe for one common share upon payment of the subscription price of CA$0.02 per common share.

The rights will not be listed for trading on any securities exchange. All rights will expire at 2:00 pm (Vancouver time) / 5:00 p.m. (Toronto time) on January 25, 2023, after which time unexercised rights will be void and of no value. Shareholders who fully exercise their rights will be entitled to subscribe for additional common shares, on a pro-rata basis, if available as a result of unexercised rights prior to the expiry time, subject to certain limitations set out in AgriCann's offering circular for the rights offering.

The rights offering will be conducted in all provinces and territories of Canada. Certain holders of common shares in jurisdictions outside of Canada may be able to participate in the rights offering where they can establish that the transaction is exempt under applicable legislation. If you are a holder of common shares and reside outside of Canada, please review the Notice of rights offering, Rights offering circular and Notice to ineligible shareholders to determine your eligibility and the process and timing requirements to receive and, or, exercise your rights. The company requests any ineligible shareholder interested in exercising their rights to contact the company at their earliest convenience after the rights are mailed out, which is expected to be on or after January 5, 2023.

Details of the rights pffering will be set out in the Notice of rights offering and the Rights offering circular which will be available under AgriCann's profile at www.sedar.com and on the company's website. Registered shareholders who wish to exercise their rights must forward the completed rights statement, together with the applicable funds, to the rights agent, Computershare Investor Services Inc., on or before the expiry time. Shareholders who own their common shares through an intermediary, such as a bank, trust company, securities dealer or broker, will receive materials and instructions through their intermediary.

Neither the rights being offered or the common shares issuable upon exercise of the rights have been or will be registered under the United States Securities Act of 1933, as amended, and may not be exercised, offered or sold, as applicable, in the United States absent registration or an applicable exemption from the registration requirements.

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