Settlement Date for Midwest Sale Deferred to 28 February

On 22 December 2022, Cannasouth Ltd (NZX:CBD) (the Company) announced that it had signed a Sale and Purchase Agreement (SPA) for assets of its manufacturing subsidiary, Midwest Pharmaceutics NZ Ltd (Midwest) to Harker Herbal Products Ltd. Completion of the sale was anticipated to occur on or about 31 January 2023 subject to the satisfaction of certain conditions. Due to the timing of internal processes one government agency is unable to complete the transfer of consents by the proposed settlement date of 31 January. Completion of the agency's consent is expected by mid-February, and the parties have agreed to defer the proposed settlement date to 28 February 2023. -ENDS- For further information visit www.cannasouth.co.nz or contact: Mark Lucas CEO / Executive Director Email: mark.lucas@cannasouth.co.nz Mobile: 021 484 649 Colin Foster CFO / Company Secretary Email: colin.foster@cannasouth.co.nz Mobile: 027 577 1498 End CA:00406113 For:CBD Type:TRANSACT Time:2023-02-01 09:54:59