Eqalis Signs Supply Agreement for Australia

On 19 December 2022, Cannasouth Ltd (NZX:CBD) (the Company) announced that it had signed a binding term sheet with Bay of Plenty based Eqalis Group New Zealand Limited (Eqalis) for a 50:50 merger. Today, Eqalis has announced that it has signed an agreement with Australian pharmaceutical distribution company, Novachem, to bring Eqalis' medicinal cannabis products into the Australian market, as the company gears up for international export. The agreement will allow for the distribution of Eqalis' active pharmaceutical ingredients (API) and finished products, manufactured at their Bay of Plenty GMP certified facility, to Australian manufacturers, pharmacies, and patients. Export shipments are planned to begin in 2023 as soon as the Medicinal Cannabis Agency confirms Eqalis' pending applications for verification with the minimum quality standard. Eqalis' full media release is included with this announcement. -ENDS- For further information visit www.cannasouth.co.nz or contact: Mark Lucas CEO / Executive Director Email: mark.lucas@cannasouth.co.nz Mobile: 021 484 649 Colin Foster CFO / Company Secretary Email: colin.foster@cannasouth.co.nz Mobile: 027 577 1498 End CA:00407353 For:CBD Type:MKTUPDTE Time:2023-02-27 08:30:40