Settlement Date Confirmed for Sale of Midwest Assets

On 22 December 2022, Cannasouth Ltd (NZX:CBD) announced that it had signed a Sale and Purchase Agreement for assets of its manufacturing subsidiary, Midwest Pharmaceutics NZ Ltd to Harker Herbal Products Ltd. All conditions have been satisfied and the settlement date of Tuesday 28 February 2023 has been agreed by the parties. The purchase price is $2.2 million plus stock at valuation. The assets sold comprised goodwill, and certain plant and equipment, and stock, but excludes cannabinoid related plant and equipment and cannabinoid intellectual property. -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:00407354 For:CBD Type:TRANSACT Time:2023-02-27 08:30:40