Early Warning News Release

Toronto, Ontario--(Newsfile Corp. - December 30, 2022) - Bob Simpson, indirectly through 2852138 Ontario Inc. ("285 Ont") announces the acquisition of 484,006 common shares ("Shares") and 877,500 convertible debentures ("Debentures") of FinCanna Capital Corp. ("FinCanna" or the "Company") at an aggregate price of $23. Each Debenture is conditionally convertible into one (1) Share of the Company at a conversion price of $0.005 per Share. Before the acquisition, 285 Ont owned, nil Shares and nil Debentures of the Company.

After the acquisition, 285 Ont owns 484,006 Shares representing approximately 0.716% of FinCanna's outstanding Shares, representing an increase of approximately 0.716% of the Shares held by 285 Ont. Upon conditional conversion of the principal amount of the acquired 877,500 Debentures, at a conditional conversion price of $0.005 per Share, 285 Ont would own an additional 175,500,000 Shares, representing approximately 72.383% of FinCanna's outstanding common shares on a conditionally partially converted basis, representing an increase of approximately 72.383% on a conditionally partially converted basis of the Shares held by 285 Ont.

The Shares and Debentures were acquired by 285 Ont for investment and tax planning purposes. 285 Ont may in the future dispose of some or all of the securities 285 Ont holds, depending on market conditions, tax considerations, reformulation of plans or other factors.

For more information or to obtain a copy of the early warning reports filed under National Instrument 62-103, please contact:

2852138 Ontario Inc.
Attention: Bob Simpson
Phone: 1-905-502-0100

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/149913