ANNOUNCEMENT: Closing of First Tranche of $4.5 Million Private Placement

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION (INCLUDING THE UNITED STATES) WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

Sativa Wellness Group Inc.

(“Sativa” or “Sativa Wellness” the “Company” or the “Group”)

9th April 2021

Closing of First Tranche of $4.5 Million Private Placement

Sativa Wellness Group is pleased to announce that it has closed the first tranche of its non-brokered private placement of units of the Company (each, a “Unit”) previously announced on February 24, 2021 (the “Offering”). In this closing, the Company issued an aggregate of 45,888,730 Units at a price of C$0.07875 per Unit for aggregate gross proceeds of C$3,613,737.49. Each Unit is comprised of one common share (each, a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one common share in the capital of the Company (a “Warrant Share”) at a price of C$0.105 per Warrant Share until March 31, 2023.

In conjunction with the first tranche of the Offering, the Company issued and paid 2,531,098 finder’s units (each, a “Finder’s Unit) and 2,531,098 finder’s warrants (each, a “Finder’s Warrant”) to Canaccord Genuity Corp. Each Finder’s Unit consists of one common share (each, a “Finder’s Share”) and one-half of one Finder’s Warrant. Each Finder’s Warrant entitles the holder thereof to purchase one common share of the Company at an exercise price of C$0.105 per common share up to and including March 31, 2023.

All securities issued under the first tranche of the Offering will be subject to a statutory hold period expiring on August 1, 2021, in accordance with applicable Canadian securities laws.
The proceeds from the Offering will be used for working capital and investment across the whole wellness business.
The Company intends to complete a second tranche of the Offering in the near future.

The Directors of the Company accept responsibility for the contents of this announcement.
On behalf of the Board of Directors,

Geremy Thomas
Executive Chairman
Sativa Wellness Group Inc.
+44 (0) 20 7971 1255
[email protected]
www.sativawellnessgroup.com

Joseph Colliver
Chief Financial Officer
Sativa Wellness Group Inc.
+44 (0) 20 7971 1255
[email protected]
www.sativawellnessgroup.com

AQSE Growth Market Corporate Advisor
Corporate Finance
Guy Miller/Allie Feuerlein
Peterhouse Capital Limited
+44 (0) 20 7220 9795

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