Craftport Cannabis Closes $1.5 Million Private Placement

Peachland, British Columbia--(Newsfile Corp. - July 19, 2022) - Craftport Cannabis Corp. (CSE: CFT) ("Craftport Cannabis" or the "Company") is pleased to announce that it has closed a non-brokered private placement offering (the "Offering") of 18,750,000 common shares (each, a "Common Share") at a price of $0.08 per common share for gross proceeds of $1.5 million. The Company initially announced the Offering in a press release on May 27, 2022.

Net proceeds of the Offering are expected to be used by the Company for general working capital purposes.

The Common Shares of the Company issued pursuant to the Offering are subject to resale restrictions for a period of four months and a day expiring on November 19, 2022.

No finders fees have been or will be paid in connection with the Offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Offering in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Craftport Cannabis

Craftport Cannabis is a Canadian cannabis licensed producer operating out of Peachland, British Columbia. The Company is focused on the Canadian premium craft cannabis recreational market by utilizing an outsourced cultivation model.

For more information about Craftport Cannabis, please refer to information available under the Company's profile on SEDAR at www.sedar.com and the CSE website.

Mike Cosic
Interim Chief Financial Officer
Craftport Cannabis Corp.
mike.c@craftportcannabis.com
416-723-2103

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131242

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