Medcolcanna Announces Postponement of AGM Scheduled for May 19, 2021

Medcolcanna Announces Postponement of AGM Scheduled for May 19, 2021

Bogotá, Colombia–(Newsfile Corp. – May 14, 2021) – Medcolcanna Organics Inc. (TSXV: MCCN) (“Medcolcanna“, “MCCN” or the “Company“), a Canadian medical cannabis company with operations in Colombia, announces that its annual general and special meeting of holders of common shares scheduled for Wednesday, May 19, 2021 at 11:00 a.m. (Bogota time) at the offices of the Company will be postponed to a later date, with details of the new date and time to be provided in a future news release. The Company expects that some of the items of business to be voted on may change and is therefore delaying the meeting in order to allow for the provision of new materials to the shareholders in conjunction with the meeting.

ABOUT MEDCOLCANNA

Medcolcanna is a Canadian integrated medical cannabis company, whose fully licensed operations are based in Colombia. Led by a proven and successful management team, Medcolcanna has facilities in optimal growing locations which positions the Company to become a global leader in the medical cannabis market. Medcolcanna employs state of the art organic agricultural technology and innovative pharmaceutical processes to produce high-quality products. The Company’s scalable production model and network of pharmaceutical partnerships globally ensures that they remain at the forefront of the medical cannabis industry. If you would like to receive News Releases via email as soon as they are published, please subscribe here: https://medcolcanna.com/contact-us/ or write to info@medcolcanna.com.

Additional information about Medcolcanna can be found on its web site at www.medcolcanna.com

Medcolcanna Investor Relations Contact:

Chris Reid, CFO

Carrera 49b # 93-62 Bogotá, Colombia

Phone: +571 642-9113

Email: info@medcolcanna.com

Forward-Looking Statements

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “ forward-looking statements ”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forwardlooking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder or regulatory approvals for any proposed transaction, including those discussed herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release.

Medcolcanna assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

May 14 • 2021

Postponement of AGM Scheduled for May 19, 2021