10552763 Canada Corp. Receives Shares of Delta 9 Cannabis Inc. in Exchange for Certain Assets

WINNIPEG, Manitoba, Sept. 13, 2022 (GLOBE NEWSWIRE) -- Pursuant to the early warning requirements of applicable Canadian securities laws, 10552763 Canada Corp. (the “Acquiror”), 3150 S. Sheridan Boulevard, Unit 1, Denver, Colorado 80212, announces that on September 6, 2022 it acquired 17,944,785 common shares ("Common Shares") of Delta 9 Cannabis Inc. (“Delta 9”), P.O. Box 68096 Osborne Village, Winnipeg, Manitoba R3L 2V9 from treasury pursuant to an asset purchase agreement between the Acquiror and Delta 9 dated August 12, 2022, whereby Delta 9 acquired all or substantially all of the Acquiror’s assets relating to the operation of three Garden Variety branded retail cannabis stores located in Manitoba, two in Winnipeg and one in Brandon (the “Transaction”). The purchase price paid by Delta 9 relating to the Transaction was $3,250,000, subject to customary adjustments (the "Purchase Price"). $2,925,000 of the Purchase Price was satisfied through the issuance of 17,944,785 Common Shares at a deemed price of $0.163 per Common Share, representing the ten (10) day volume weighted average price of the Common Shares on the Toronto Stock Exchange on September 2, 2022 (the “Common Share Price”). $325,000 of the Purchase Price will be satisfied through the issuance of 1,993,865 Common Shares at a deemed price of the Common Share Price per Common Share, which will be issued in approximately six months.

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