Red White & Bloom Brands provides update related to Aleafia Health

Red White & Bloom Brands is providing an update on matters relating to Aleafia Health. Following receipt of the approval and reverse vesting order from the Ontario Superior Court of Justice on October 31, 2023, RWB has continued to work with Aleafia Health and certain subsidiaries of Aleafia Health to implement the transactions contemplated by the previously announced stalking horse asset purchase and share subscription agreement, as amended and restated on October 24, 2023 among RWB, Aleafia Health and certain subsidiaries of Aleafia Health. As of November 22, 2023, the parties to the Amended Stalking Horse Agreement have satisfied substantially all of the conditions to closing set forth in the Amended Stalking Horse Agreement. The parties are continuing to collaboratively pursue, with the applicable government authorities, the remaining conditions required to obtain the required regulatory approvals. For this purpose, the parties have agreed to extend the outside date in the Amended Stalking Horse Agreement from November 22, 2023, to December 15, 2023, and currently anticipate closing the transactions contemplated under the Amended Stalking Horse Agreement by no later than December 15, 2023.