CANNA 8 INVESTMENT TRUST ANNOUNCES CHANGES TO BOARD AND MANAGEMENT

TORONTO, Aug. 22, 2024 /CNW/ - Canna 8 Investment Trust (TSXV: RCR.P) ("Canna 8" or the "Trust") announced today that Sundeep Cheema has resigned from the Board of Trustees.

The Trust would like to thank Mr. Cheema for his years of services and wishes him well in his future endeavors.

Following Mr. Cheema's resignation, the following individuals continue to serve as Trustees:

• Dean Parmar
• Nebojsa Dobrijevic
• Gopikannan Pillai
• Shant Poladian

In addition, Gopikannan Pilla has resigned today as Chief Operating Officer of the Trust for personal reasons but will continue to serve as a Trustee. This position is expected to remain vacant until further notice.

About the Trust:

Canna 8 is a capital pool company pursuant to the policies of the TSX Venture Exchange. Except as specifically contemplated in such policies, until the completion of its Qualifying Transaction, the Trust will not carry-on business, other than the identification and evaluation of companies, businesses or assets with a view to completing a proposed Qualifying Transaction. Investors are cautioned that trading in the securities of a capital pool company is considered highly speculative. For further information please see all relevant documents, filed on SEDAR+ at www.sedarplus.ca.

Notice on forward-looking statements:

This press release includes forward-looking statements regarding Canna 8 which may include, but is not limited to, statements with respect to vacancy of the office of Chief Operating Officer and matters concerning any Qualifying Transaction. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of management, and are based on assumptions and subject to risks and uncertainties (including the risk factors listed below). Although the management of the Trust believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the real estate industry, failure to obtain regulatory or unitholder approvals, market conditions, economic factors, the equity markets generally and risks associated with growth and competition. Although Canna 8 has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable securities laws, Canna 8 undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Canna 8 Investment Trust

For further information concerning Canna 8 Investment Trust, please contact: Dean Parmar, CEO and Trustee of Canna 8 Investment Trust, [email protected] or 780-499-7833