First Commercial Export to Australia

Cannasouth Limited (NZX:CBD), New Zealand's largest publicly listed medicinal cannabis company, is pleased to announce it has achieved another significant milestone with the successful export of its first commercial scale shipment of high-quality dried cannabis-flower to Australia. This signals the commencement of Cannasouth's export program into Australia. Australia is a key market for Cannasouth. This market has achieved critical mass for prescriptions of medicinal cannabis, with exponential growth year-on-year. New Australia TGA requirements from 1 July 2023 requires all medicinal cannabis products released for supply in Australia, including imports, to meet GMP quality standards. This is a game-changer, promising a surge in demand for GMP-compliant products. Cannasouth is GMP Licenced to Manufacture Medicines to produce dried cannabis flower (to the global GMP standard) at its cultivation facility. On 1 June 2023 Cannasouth merged with Eqalis Group, enabling Cannasouth to operate end-to-end with GMP approval for producing dried cannabis flower, and manufacturing cannabis-based ingredients and medicinal cannabis products, including oral solutions. CEO Mark Lucas says, "Cannasouth's quality certifications dovetail perfectly with Australia's regulatory environment. This positions us for robust market penetration in Australia whilst also progressing flower products for the New Zealand market. "We anticipate expanding our offerings to include sales of CBD ingredients and medicinal cannabis products, such as oral solutions, once we receive verification from the New Zealand Medicinal Cannabis Agency." -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:00412610 For:CBD Type:MKTUPDTE Time:2023-06-06 12:14:30