Medcolcanna Organics Announces Final Approval for Listing of Common Shares on the NEO Exchange

Medcolcanna Organics Inc. (“

Medcolcanna

”, “

MCCN

” or the “

Company

”) (TSXV: MCCN), a Canadian integrated medical cannabis company with operations in Colombia, is pleased to announce that it has received final approval to have the common shares of the Company (“

Common Shares

”) listed on Neo Exchange Inc. (the “

NEO Exchange

”). Consequently, the Company has also submitted a request to the TSX Venture Exchange (the “

TSXV

”) to voluntarily delist the Common Shares from the TSXV. The Company anticipates the delisting of the Common Shares from the TSXV and the subsequent listing of the Common Shares on the NEO Exchange to occur on or about the week of October 12th, 2020, subject to satisfaction of customary conditions by the NEO Exchange and the TSXV. Company Management is excited with the prospect of listing the Common Shares on the NEO Exchange and the opportunities it provides to its investors, as the Company continues the ongoing development of its business operations, including pursuing operations in the United States as integral to its business and the value that it expects to provide to its shareholders. The Company will provide further updates in future press releases surrounding the status and timing of the transfer of the listing of its Common Shares.

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 [e-mail].

Additional information about Medcolcanna can be found on its web site at www.medcolcanna.comMedcolcanna Investor Relations Contact:

Chris Reid, CFOCarrera 49b # 93-62Bogotá, ColombiaPhone: [phone]Email: [e-mail]

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 forward-looking 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.

Neither the TSX Venture Exchange Inc. nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.