Cannara Announces a Long-Term International Cannabis Supply Agreement with Curaleaf International Limited

About this update from Cannara Biotech, Inc.

MONTREAL, July 14, 2026 (GLOBE NEWSWIRE) -- Cannara Biotech Inc. (" Cannara ", the " Company ", " us " or " we ") ( TSX: LOVE ) ( OTCQX: LOVFF ) ( FRA: 8CB0 ), a vertically integrated producer of premium-grade cannabis products at affordable prices with two mega facilities in Québec spanning over 1,600,000 sq. ft., is pleased to announce that it has entered into a long-term international supply agreement (the " Agreement ") with Curaleaf International Limited (" Curaleaf ") for the production and supply of bulk cannabis flower destined for international markets. The Agreement, if fully realized, has a potential aggregate contract value of up to C$21 million over the term of the Agreement, based on committed supply volumes and the terms and conditions of the Agreement. The Agreement represents Cannara's first long-term supply commitment for international markets. In connection with this opportunity, Cannara has activated two additional cultivation zones at its Valleyfield facility during fiscal Q3 2026, bringing its total zones in production to 14 out of 24 grow zones of 25,000 ft2 each. To meet anticipated commercial demand, the Company expects to activate four additional cultivation zones by the end of fiscal 2027, which would bring the total number of activated cultivation zones to 18 out of 24. Once complete, this expansion is projected to increase annual production capacity to 75,000 kg, enabling Cannara to reach its targeted production capacity approximately one year ahead of its original fiscal 2028 timeline. Curaleaf is a leading international provider of consumer cannabis products, with an established distribution network across Europe, the United Kingdom, Canada and Australasia. The Agreement provides Cannara with access to international medical cannabis markets through a commercial relationship with one of the sector's leading global operators, further validating the Company's cultivation platform, product quality and ability to scale. The Agreement is long-term, commencing August 1, 2026, with a provision for renewal upon mutual agreement. As part of the Agreement, Curaleaf will support Cannara's pursuit of EU-GMP certification of its processing center at the Valleyfield facility. In the interim, all cannabis flower supplied under the Agreement will be fully dried and processed under EU-GMP conditions at Curaleaf's EU-GMP certified facility in Canada prior to release into international medical markets. EU-GMP certification is widely recognized across European medical cannabis markets and is expected to further facilitate Cannara's ability to supply products into Europe.

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